Sii Investments Inc. WI maintained its stake in Vectren Corporation (NYSE:VVC) during the first quarter, Holdings Channel reports. The fund owned 9,122 shares of the utilities provider’s stock at the end of the first quarter. Sii Investments Inc. WI’s holdings in Vectren Corporation were worth $535,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. World Asset Management Inc boosted its stake in Vectren Corporation by 0.8% in the first quarter. World Asset Management Inc now owns 5,686 shares of the utilities provider’s stock valued at $333,000 after buying an additional 46 shares in the last quarter. FormulaFolio Investments LLC boosted its stake in Vectren Corporation by 0.9% in the first quarter. FormulaFolio Investments LLC now owns 6,329 shares of the utilities provider’s stock valued at $371,000 after buying an additional 55 shares in the last quarter. Hendley & Co. Inc. boosted its stake in Vectren Corporation by 0.4% in the fourth quarter. Hendley & Co. Inc. now owns 17,880 shares of the utilities provider’s stock valued at $932,000 after buying an additional 80 shares in the last quarter. AMG Funds LLC boosted its stake in Vectren Corporation by 1.1% in the first quarter. AMG Funds LLC now owns 12,318 shares of the utilities provider’s stock valued at $722,000 after buying an additional 131 shares in the last quarter. Finally, Capital One National Association boosted its stake in Vectren Corporation by 2.5% in the first quarter. Capital One National Association now owns 7,198 shares of the utilities provider’s stock valued at $422,000 after buying an additional 175 shares in the last quarter. 64.87% of the stock is owned by hedge funds and other institutional investors.
Vectren Corporation (VVC) traded up 0.80% during midday trading on Friday, hitting $62.06. 512,259 shares of the stock traded hands. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 23.51 and a beta of 0.78. The firm’s 50-day moving average is $60.32 and its 200-day moving average is $56.44. Vectren Corporation has a 52-week low of $46.52 and a 52-week high of $62.79.
Vectren Corporation (NYSE:VVC) last issued its earnings results on Monday, May 8th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.02. The company had revenue of $624.50 million for the quarter, compared to analysts’ expectations of $595.84 million. Vectren Corporation had a net margin of 8.79% and a return on equity of 12.51%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 EPS. Analysts predict that Vectren Corporation will post $2.62 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 15th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Thursday, May 11th. Vectren Corporation’s payout ratio is 63.64%.
Several equities research analysts have recently commented on the stock. BidaskClub cut shares of Vectren Corporation from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup Inc. raised their target price on shares of Vectren Corporation from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Finally, Zacks Investment Research raised shares of Vectren Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $63.50.
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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