Vectren (VVC) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Vectren (NYSE:VVC) from a hold rating to a buy rating in a research report report published on Friday morning. Zacks Investment Research currently has $73.00 price objective on the utilities provider’s stock.
According to Zacks, “Vectren Corporation is an energy holding company headquartered in Evansville, Ind. Vectren’s energy delivery subsidiaries provide gas and/or electricity to the customers in adjoining service territories that cover nearly two-thirds of Indiana and west central Ohio. Vectren’s nonutility subsidiaries and affiliates currently offer energy-related products and services to customers throughout the U.S. These include infrastructure services, energy services, coal mining and energy marketing. “
Several other equities analysts have also recently weighed in on VVC. Guggenheim reissued a hold rating and set a $61.00 price target on shares of Vectren in a report on Friday, February 23rd. Bank of America reissued a neutral rating on shares of Vectren in a report on Tuesday, February 27th. Finally, Wells Fargo set a $58.00 price target on Vectren and gave the company a hold rating in a report on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Vectren currently has an average rating of Hold and a consensus target price of $66.75.
Vectren (NYSE:VVC) last issued its earnings results on Tuesday, February 20th. The utilities provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.02). The business had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $620.00 million. Vectren had a net margin of 8.13% and a return on equity of 11.91%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 earnings per share. equities research analysts expect that Vectren will post 2.87 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in VVC. BlackRock Inc. lifted its holdings in shares of Vectren by 6.4% during the 4th quarter. BlackRock Inc. now owns 8,338,163 shares of the utilities provider’s stock valued at $542,147,000 after buying an additional 503,213 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Vectren by 90.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,041,443 shares of the utilities provider’s stock valued at $67,715,000 after buying an additional 493,212 shares during the period. Wells Fargo & Company MN raised its holdings in Vectren by 193.3% in the 4th quarter. Wells Fargo & Company MN now owns 370,336 shares of the utilities provider’s stock worth $24,078,000 after purchasing an additional 244,084 shares during the period. APG Asset Management N.V. raised its holdings in Vectren by 419.0% in the 4th quarter. APG Asset Management N.V. now owns 215,400 shares of the utilities provider’s stock worth $11,663,000 after purchasing an additional 173,900 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in Vectren by 249.3% in the 4th quarter. Allianz Asset Management GmbH now owns 231,606 shares of the utilities provider’s stock worth $15,059,000 after purchasing an additional 165,307 shares during the period. 64.12% of the stock is currently owned by hedge funds and other institutional investors.
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Vectren Company Profile
Vectren Corporation provides energy delivery services to residential, commercial, and industrial and other contract customers. The company offers natural gas distribution and transportation services, and electric transmission and distribution services; and owns and operates coal-fired, natural gas or oil-fired, and landfill gas electric generating facilities with an installed generating capacity of 1,248 megawatts.
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