BidaskClub upgraded shares of Vectren Corporation (NYSE:VVC) from a sell rating to a hold rating in a research note published on Friday.

Several other research firms have also recently weighed in on VVC. Citigroup Inc. increased their target price on shares of Vectren Corporation from $58.00 to $66.00 and gave the company a buy rating in a research note on Tuesday, May 9th. Zacks Investment Research upgraded shares of Vectren Corporation from a sell rating to a hold rating in a research note on Wednesday, April 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $65.50.

Shares of Vectren Corporation (VVC) traded down 0.23% during mid-day trading on Friday, reaching $60.36. The company’s stock had a trading volume of 12,769 shares. The company has a 50 day moving average price of $59.53 and a 200 day moving average price of $58.25. Vectren Corporation has a 12 month low of $46.52 and a 12 month high of $62.79. The stock has a market capitalization of $5.01 billion, a P/E ratio of 22.86 and a beta of 0.81.

Vectren Corporation (NYSE:VVC) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. Vectren Corporation had a net margin of 8.66% and a return on equity of 12.65%. The business had revenue of $630.70 million during the quarter, compared to analysts’ expectations of $565.12 million. During the same quarter last year, the company earned $0.39 earnings per share. The firm’s revenue was up 18.2% on a year-over-year basis. On average, equities research analysts anticipate that Vectren Corporation will post $2.63 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Friday, August 11th. Vectren Corporation’s dividend payout ratio is 62.22%.

A number of hedge funds and other institutional investors have recently made changes to their positions in VVC. BlackRock Inc. boosted its position in shares of Vectren Corporation by 4,556.1% in the first quarter. BlackRock Inc. now owns 7,579,951 shares of the utilities provider’s stock worth $444,258,000 after buying an additional 7,417,154 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Vectren Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 7,370,537 shares of the utilities provider’s stock worth $431,988,000 after buying an additional 276,427 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Vectren Corporation by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,553,855 shares of the utilities provider’s stock worth $90,808,000 after buying an additional 5,569 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Vectren Corporation by 119.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,190,162 shares of the utilities provider’s stock worth $69,755,000 after buying an additional 647,315 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in shares of Vectren Corporation by 15.1% in the first quarter. Epoch Investment Partners Inc. now owns 1,046,236 shares of the utilities provider’s stock worth $61,320,000 after buying an additional 137,179 shares in the last quarter. Hedge funds and other institutional investors own 64.57% of the company’s stock.

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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