Candriam Luxembourg S.C.A. bought a new position in shares of Vectren Corp (NYSE:VVC) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 31,500 shares of the utilities provider’s stock, valued at approximately $2,252,000.

A number of other institutional investors and hedge funds have also made changes to their positions in VVC. Renaissance Technologies LLC raised its holdings in shares of Vectren by 5.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,430,200 shares of the utilities provider’s stock worth $102,188,000 after acquiring an additional 72,000 shares during the period. Water Island Capital LLC purchased a new position in shares of Vectren during the 2nd quarter worth $51,108,000. Gabelli Funds LLC raised its holdings in shares of Vectren by 4.8% during the 3rd quarter. Gabelli Funds LLC now owns 714,273 shares of the utilities provider’s stock worth $51,063,000 after acquiring an additional 32,654 shares during the period. Alpine Associates Management Inc. purchased a new position in shares of Vectren during the 2nd quarter worth $45,774,000. Finally, Arrowgrass Capital Partners US LP purchased a new position in shares of Vectren during the 2nd quarter worth $40,598,000. 65.70% of the stock is currently owned by institutional investors.

Separately, Zacks Investment Research upgraded Vectren from a “sell” rating to a “hold” rating in a report on Saturday, November 17th. Six equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $66.00.

NYSE VVC opened at $71.74 on Thursday. Vectren Corp has a 52 week low of $58.00 and a 52 week high of $71.96. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.55 and a current ratio of 0.69. The firm has a market cap of $5.95 billion, a PE ratio of 27.59, a P/E/G ratio of 3.57 and a beta of 0.38.

Vectren (NYSE:VVC) last posted its quarterly earnings results on Monday, November 5th. The utilities provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.13). Vectren had a return on equity of 12.10% and a net margin of 7.37%. The company had revenue of $665.00 million for the quarter, compared to analysts’ expectations of $707.00 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The firm’s revenue was down 3.8% on a year-over-year basis. Sell-side analysts expect that Vectren Corp will post 2.87 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Wednesday, November 14th. This is a positive change from Vectren’s previous quarterly dividend of $0.45. Vectren’s payout ratio is currently 73.85%.

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About Vectren

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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Institutional Ownership by Quarter for Vectren (NYSE:VVC)

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