Stratos Wealth Partners LTD. Raises Stake in Vectren Corporation (NYSE:VVC)
Stratos Wealth Partners LTD. raised its position in Vectren Corporation (NYSE:VVC) by 2.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,518 shares of the utilities provider’s stock after buying an additional 84 shares during the period. Stratos Wealth Partners LTD.’s holdings in Vectren Corporation were worth $206,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its stake 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 during the period. Goldman Sachs Group Inc. boosted its stake 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 during the period. Vanguard Group Inc. boosted its stake 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 during the period. First Quadrant L P CA boosted its stake in shares of Vectren Corporation by 86.0% in the first quarter. First Quadrant L P CA now owns 526,223 shares of the utilities provider’s stock worth $30,842,000 after buying an additional 243,297 shares during the period. Finally, James Investment Research Inc. boosted its stake in shares of Vectren Corporation by 362.9% in the second quarter. James Investment Research Inc. now owns 185,455 shares of the utilities provider’s stock worth $10,838,000 after buying an additional 145,393 shares during the period. 64.57% of the stock is currently owned by institutional investors.
Shares of Vectren Corporation (VVC) opened at 60.13 on Friday. The firm’s 50 day moving average is $59.46 and its 200-day moving average is $58.53. The firm has a market capitalization of $4.99 billion, a PE ratio of 22.28 and a beta of 0.81. Vectren Corporation has a one year low of $46.52 and a one year high of $62.79.
Vectren Corporation (NYSE:VVC) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $630.70 million for the quarter, compared to the consensus estimate of $565.12 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The business’s revenue was up 18.2% compared to the same quarter last year. On average, equities research analysts predict that Vectren Corporation will post $2.62 earnings per share for the current fiscal year.
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. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.68 dividend on an annualized basis and a yield of 2.79%. Vectren Corporation’s dividend payout ratio is currently 62.22%.
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A number of analysts have weighed in on VVC shares. Citigroup Inc. increased their target price on shares of Vectren Corporation from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. Zacks Investment Research raised shares of Vectren Corporation from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Thursday, July 13th. Finally, BidaskClub raised shares of Vectren Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Vectren Corporation currently has a consensus rating of “Buy” and a consensus target price 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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