Brokerages Anticipate Vectren Corporation (VVC) to Post $0.80 Earnings Per Share
Shares of Vectren Corporation (NYSE:VVC) have 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 analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. Vectren Corporation’s rating score has improved by 6.6% from 90 days ago as a result of a number of analysts’ ratings changes.
Analysts have set a 12 month consensus target price of $61.50 for the company and are forecasting that the company will post $0.80 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Vectren Corporation an industry rank of 164 out of 265 based on the ratings given to its competitors.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Vectren Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. BidaskClub raised shares of Vectren Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd.
Vectren Corporation (NYSE VVC) opened at $67.38 on Tuesday. The company has a market cap of $5,516.34, a PE ratio of 24.52, a price-to-earnings-growth ratio of 4.48 and a beta of 0.84. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.70. Vectren Corporation has a 52 week low of $47.08 and a 52 week high of $68.84.
Vectren Corporation (NYSE:VVC) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The company had revenue of $691.20 million for the quarter, compared to analysts’ expectations of $615.00 million. Vectren Corporation had a net margin of 8.49% and a return on equity of 12.51%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. equities research analysts forecast that Vectren Corporation will post 2.62 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.67%. This is a boost from Vectren Corporation’s previous quarterly dividend of $0.42. Vectren Corporation’s payout ratio is currently 61.99%.
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In other news, Director Derrick Burks bought 1,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was bought at an average cost of $65.60 per share, for a total transaction of $65,600.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at approximately $65,600. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.14% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in VVC. State Street Corp boosted its holdings in shares of Vectren Corporation by 14.6% in the second quarter. State Street Corp now owns 5,808,728 shares of the utilities provider’s stock worth $339,461,000 after buying an additional 740,825 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Vectren Corporation by 86.4% in the second quarter. Principal Financial Group Inc. now owns 1,320,557 shares of the utilities provider’s stock worth $77,173,000 after buying an additional 612,201 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Vectren Corporation in the third quarter worth about $31,702,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Vectren Corporation by 1,761.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 348,171 shares of the utilities provider’s stock worth $20,347,000 after buying an additional 329,471 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Vectren Corporation in the third quarter worth about $20,101,000. Institutional investors own 62.60% of the company’s stock.
Vectren Corporation Company Profile
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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