Vectren Corp. (VVC) Trading Down 2.6%
Vectren Corp. (NYSE:VVC)’s share price fell 2.6% during mid-day trading on Friday . The stock traded as low as $48.77 and last traded at $48.80, with a volume of 276,266 shares trading hands. The stock had previously closed at $50.12.
Several brokerages recently issued reports on VVC. Zacks Investment Research raised shares of Vectren Corp. from a “sell” rating to a “hold” rating in a report on Friday, June 3rd. Citigroup Inc. lifted their price target on shares of Vectren Corp. from $44.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Finally, US Capital Advisors downgraded shares of Vectren Corp. from an “overweight” rating to a “hold” rating in a report on Thursday, May 19th.
The firm has a 50-day moving average price of $51.05 and a 200 day moving average price of $49.69. The company has a market capitalization of $4.04 billion and a P/E ratio of 21.82.
Vectren Corp. (NYSE:VVC) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The business had revenue of $533.70 million for the quarter, compared to analysts’ expectations of $585.40 million. Vectren Corp.’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 EPS. On average, analysts anticipate that Vectren Corp. will post $2.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 15th will be issued a $0.40 dividend. The ex-dividend date is Thursday, August 11th. This represents a $1.60 annualized dividend and a dividend yield of 3.28%.
A hedge fund recently raised its stake in Vectren Corp. stock. Bank of Montreal Can increased its stake in shares of Vectren Corp. (NYSE:VVC) by 495.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,652 shares of the company’s stock after buying an additional 34,656 shares during the period. Bank of Montreal Can owned about 0.05% of Vectren Corp. worth $1,766,000 as of its most recent SEC filing.
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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