Analysts Set $61.50 Price Target for Vectren Corporation (VVC)
Vectren Corporation (NYSE:VVC) has been given an average broker rating score of 2.67 (Hold) from the six analysts that provide coverage for the company, Zacks Investment Research reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. Vectren Corporation’s rating score has improved by 6.6% in the last three months as a result of a number of analysts’ ratings changes.
Brokerages have set a one year consensus price target of $61.50 for the company and are predicting that the company will post $0.68 earnings per share for the current quarter, according to Zacks. Zacks has also given Vectren Corporation an industry rank of 102 out of 265 based on the ratings given to its competitors.
Several equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Vectren Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. BidaskClub upgraded shares of Vectren Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd.
Shares of Vectren Corporation (NYSE:VVC) traded down 0.23% during midday trading on Friday, reaching $65.80. The firm has a market capitalization of $5.46 billion, a PE ratio of 24.38 and a beta of 0.81. The firm has a 50-day moving average price of $65.92 and a 200 day moving average price of $61.26. Vectren Corporation has a 52-week low of $46.52 and a 52-week high of $68.30.
Vectren Corporation (NYSE:VVC) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $630.70 million during the quarter, compared to analyst estimates of $565.12 million. Vectren Corporation had a net margin of 8.66% and a return on equity of 12.65%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. On average, equities analysts expect that Vectren Corporation will post $2.63 EPS for the current year.
In other news, Director Derrick Burks purchased 1,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was acquired at an average cost of $65.60 per share, with a total value of $65,600.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at approximately $65,600. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Vectren Corporation by 4,556.1% during the 1st quarter. BlackRock Inc. now owns 7,579,951 shares of the utilities provider’s stock worth $444,258,000 after purchasing an additional 7,417,154 shares during the period. Vanguard Group Inc. lifted its position in shares of Vectren Corporation by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,553,087 shares of the utilities provider’s stock valued at $441,403,000 after buying an additional 182,550 shares in the last quarter. State Street Corp lifted its position in shares of Vectren Corporation by 14.6% during the 2nd quarter. State Street Corp now owns 5,808,728 shares of the utilities provider’s stock valued at $339,461,000 after buying an additional 740,825 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Vectren Corporation by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,553,855 shares of the utilities provider’s stock valued at $90,808,000 after buying an additional 5,569 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Vectren Corporation by 86.4% during the 2nd quarter. Principal Financial Group Inc. now owns 1,320,557 shares of the utilities provider’s stock valued at $77,173,000 after buying an additional 612,201 shares in the last quarter. 63.11% of the stock is owned by hedge funds and other institutional investors.
About Vectren Corporation
Vectren Corporation (Vectren) is an energy holding company. The Company segregates its operations into groups, including the Utility Group, the Nonutility Group, and Corporate and Other. The Company’s subsidiary, Vectren Utility Holdings, Inc (Utility Holdings or VUHI), serves as the intermediate holding company for three public utilities: Indiana Gas Company, Inc (Indiana Gas), Southern Indiana Gas and Electric Company (SIGECO) and Vectren Energy Delivery of Ohio, Inc (VEDO).
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