Shares of Vectren Corp (NYSE:VVC) reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $72.20 and last traded at $72.17, with a volume of 57065 shares trading hands. The stock had previously closed at $72.10.
The newly announced dividend which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 14th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Wednesday, February 13th. Vectren’s dividend payout ratio (DPR) is presently 73.85%.
Separately, Zacks Investment Research raised shares of Vectren from a “sell” rating to a “hold” rating in a research note on Friday, November 23rd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Vectren has an average rating of “Hold” and a consensus price target of $66.00.
Vectren (NYSE:VVC) last posted its quarterly earnings data on Monday, November 5th. The utilities provider reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.13). Vectren had a net margin of 7.37% and a return on equity of 12.10%. The business had revenue of $665.00 million during the quarter, compared to analysts’ expectations of $707.00 million. During the same period in the previous year, the business posted $0.75 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. Analysts anticipate that Vectren Corp will post 2.87 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Vectren by 1.8% in the third quarter. Vanguard Group Inc. now owns 8,540,495 shares of the utilities provider’s stock valued at $610,560,000 after acquiring an additional 147,510 shares in the last quarter. Vanguard Group Inc raised its holdings in Vectren by 1.8% in the third quarter. Vanguard Group Inc now owns 8,540,495 shares of the utilities provider’s stock valued at $610,560,000 after acquiring an additional 147,510 shares in the last quarter. BlackRock Inc. raised its holdings in Vectren by 0.8% in the third quarter. BlackRock Inc. now owns 7,282,393 shares of the utilities provider’s stock valued at $520,618,000 after acquiring an additional 57,577 shares in the last quarter. Alpine Associates Management Inc. raised its holdings in Vectren by 181.2% in the third quarter. Alpine Associates Management Inc. now owns 1,799,971 shares of the utilities provider’s stock valued at $128,680,000 after acquiring an additional 1,159,783 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Vectren by 1.2% in the third quarter. Renaissance Technologies LLC now owns 1,446,900 shares of the utilities provider’s stock valued at $103,439,000 after acquiring an additional 16,700 shares in the last quarter. 64.35% of the stock is owned by institutional investors and hedge funds.
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About Vectren (NYSE:VVC)
Vectren Corporation provides energy delivery services to residential, commercial, and industrial and other contract customers. The company offers natural gas distribution and transportation services, and electric transmission and distribution services; and owns and operates coal-fired, natural gas or oil-fired, and landfill gas electric generating facilities with an installed generating capacity of 1,248 megawatts.
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