BNP Paribas Arbitrage SA Raises Holdings in Vectren Corporation (VVC)
BNP Paribas Arbitrage SA boosted its position in Vectren Corporation (NYSE:VVC) by 192.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,850 shares of the utilities provider’s stock after buying an additional 109,849 shares during the quarter. BNP Paribas Arbitrage SA owned approximately 0.20% of Vectren Corporation worth $10,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in VVC. State Street Corp boosted its stake in shares of Vectren Corporation by 14.6% during the second 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 period. Principal Financial Group Inc. raised its holdings in shares of Vectren Corporation by 86.4% during the second quarter. Principal Financial Group Inc. now owns 1,320,557 shares of the utilities provider’s stock valued at $77,173,000 after acquiring an additional 612,201 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Vectren Corporation by 1,761.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 348,171 shares of the utilities provider’s stock valued at $20,347,000 after acquiring an additional 329,471 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Vectren Corporation during the third quarter valued at approximately $20,101,000. Finally, Vanguard Group Inc. raised its holdings in shares of Vectren Corporation by 2.5% during the second quarter. Vanguard Group Inc. now owns 7,553,087 shares of the utilities provider’s stock valued at $441,403,000 after acquiring an additional 182,550 shares in the last quarter. 62.60% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Vectren Corporation from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. BidaskClub upgraded Vectren Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.50.
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Vectren Corporation (VVC) traded up $0.82 on Wednesday, reaching $68.20. The company’s stock had a trading volume of 353,400 shares, compared to its average volume of 389,150. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.70. The company has a market capitalization of $5,592.70, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 4.54 and a beta of 0.84. Vectren Corporation has a twelve month low of $47.44 and a twelve month high of $68.84.
Vectren Corporation (NYSE:VVC) last posted its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $691.20 million during the quarter, compared to the consensus estimate of $615.00 million. Vectren Corporation had a return on equity of 12.51% and a net margin of 8.49%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. sell-side analysts predict that Vectren Corporation will post 2.62 EPS for the current fiscal year.
The business also recently announced 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. This is a boost from Vectren Corporation’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Tuesday, November 14th. Vectren Corporation’s dividend payout ratio is currently 61.99%.
In related news, Director Derrick Burks bought 1,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were purchased at an average cost of $65.60 per share, with a total value of $65,600.00. Following the completion of the purchase, 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 the SEC website. Corporate insiders own 0.14% of the company’s stock.
Vectren Corporation 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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