Vectren Corporation (VVC) Shares Sold by Cigna Investments Inc. New
Cigna Investments Inc. New reduced its stake in Vectren Corporation (NYSE:VVC) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,803 shares of the utilities provider’s stock after selling 100 shares during the period. Cigna Investments Inc. New’s holdings in Vectren Corporation were worth $1,566,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in VVC. FMR LLC acquired a new stake in shares of Vectren Corporation during the fourth quarter valued at about $306,000. Teachers Advisors LLC increased its stake in shares of Vectren Corporation by 42.9% in the fourth quarter. Teachers Advisors LLC now owns 124,570 shares of the utilities provider’s stock valued at $6,496,000 after buying an additional 37,425 shares in the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of Vectren Corporation during the first quarter valued at about $382,000. Louisiana State Employees Retirement System increased its stake in shares of Vectren Corporation by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 20,900 shares of the utilities provider’s stock valued at $1,225,000 after buying an additional 400 shares in the last quarter. Finally, First Financial Corp IN increased its stake in shares of Vectren Corporation by 4.2% in the first quarter. First Financial Corp IN now owns 84,007 shares of the utilities provider’s stock valued at $4,924,000 after buying an additional 3,374 shares in the last quarter. 64.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Vectren Corporation (VVC) opened at 61.41 on Wednesday. The stock has a market capitalization of $5.09 billion, a P/E ratio of 23.26 and a beta of 0.81. The stock’s 50 day moving average price is $59.48 and its 200-day moving average price is $58.30. Vectren Corporation has a 1-year low of $46.52 and a 1-year high of $62.79.
Vectren Corporation (NYSE:VVC) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $630.70 million for the quarter, compared to analyst estimates of $565.12 million. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 earnings per share. Equities research analysts anticipate that Vectren Corporation will post $2.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.74%. Vectren Corporation’s dividend payout ratio (DPR) is 62.22%.
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VVC has been the subject of several research analyst reports. Zacks Investment Research raised Vectren Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Citigroup Inc. increased their price objective on Vectren Corporation from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Finally, BidaskClub downgraded Vectren Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Vectren Corporation has a consensus rating of “Buy” and an average price target of $65.50.
Vectren Corporation Company 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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