Vectren Corporation (NYSE:VVC) saw a large increase in short interest in the month of September. As of September 29th, there was short interest totalling 1,016,032 shares, an increase of 63.4% from the September 15th total of 621,631 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average trading volume of 387,625 shares, the short-interest ratio is presently 2.6 days.

In related news, Director Derrick Burks purchased 1,000 shares of Vectren Corporation stock in a transaction dated Thursday, September 28th. The stock was bought at an average cost of $65.60 per share, with a total value of $65,600.00. Following the purchase, the director now owns 1,000 shares in the company, valued at approximately $65,600. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Vectren Corporation by 4,556.1% in the 1st quarter. BlackRock Inc. now owns 7,579,951 shares of the utilities provider’s stock valued at $444,258,000 after purchasing an additional 7,417,154 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Vectren Corporation by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,553,087 shares of the utilities provider’s stock valued at $441,403,000 after purchasing an additional 182,550 shares during the last quarter. State Street Corp boosted its stake in shares of Vectren Corporation by 14.6% in the 2nd quarter. State Street Corp now owns 5,808,728 shares of the utilities provider’s stock valued at $339,461,000 after purchasing an additional 740,825 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Vectren Corporation by 0.4% in 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 purchasing an additional 5,569 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Vectren Corporation by 86.4% in 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 purchasing an additional 612,201 shares during the last quarter. 63.11% of the stock is currently owned by institutional investors.

Shares of Vectren Corporation (NYSE VVC) opened at 68.10 on Friday. Vectren Corporation has a 1-year low of $46.52 and a 1-year high of $68.30. The company’s 50-day moving average is $66.39 and its 200 day moving average is $61.82. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 25.23 and a beta of 0.81.

Vectren Corporation (NYSE:VVC) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $630.70 million for 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 company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. On average, analysts expect that Vectren Corporation will post $2.63 EPS for the current fiscal year.

VVC has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Vectren Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. BidaskClub lowered shares of Vectren Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 1st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $65.50.

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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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