Trustmark National Bank Trust Department continued to hold its stake in shares of Vectren Corporation (NYSE:VVC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,994 shares of the utilities provider’s stock at the end of the first quarter. Trustmark National Bank Trust Department’s holdings in Vectren Corporation were worth $410,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. raised its stake in shares of Vectren Corporation by 79.7% in the third quarter. D. E. Shaw & Co. Inc. now owns 188,153 shares of the utilities provider’s stock worth $9,445,000 after buying an additional 83,473 shares during the last quarter. ETRADE Capital Management LLC increased its position in shares of Vectren Corporation by 52.4% in the third quarter. ETRADE Capital Management LLC now owns 11,500 shares of the utilities provider’s stock worth $577,000 after buying an additional 3,955 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Vectren Corporation during the fourth quarter worth approximately $2,041,000. Cadence Capital Management LLC purchased a new position in shares of Vectren Corporation during the fourth quarter worth approximately $297,000. Finally, Comerica Bank increased its position in shares of Vectren Corporation by 58.0% in the fourth quarter. Comerica Bank now owns 126,439 shares of the utilities provider’s stock worth $6,886,000 after buying an additional 46,427 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.
Shares of Vectren Corporation (NYSE:VVC) traded down 1.23% during mid-day trading on Tuesday, reaching $60.89. 107,730 shares of the company were exchanged. The firm has a market capitalization of $5.05 billion, a PE ratio of 23.06 and a beta of 0.78. Vectren Corporation has a 12 month low of $46.52 and a 12 month high of $62.79. The company’s 50 day moving average price is $60.44 and its 200 day moving average price is $56.71.
Vectren Corporation (NYSE:VVC) last posted its quarterly earnings data on Monday, May 8th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. Vectren Corporation had a net margin of 8.79% and a return on equity of 12.51%. The company had revenue of $624.50 million for the quarter, compared to the consensus estimate of $595.84 million. During the same period last year, the company earned $0.58 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. Equities analysts anticipate that Vectren Corporation will post $2.62 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Monday, May 15th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.68 annualized dividend and a dividend yield of 2.73%. Vectren Corporation’s dividend payout ratio is presently 63.64%.
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Several research firms have issued reports on VVC. BidaskClub downgraded shares of Vectren Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Citigroup Inc. increased their price target 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. Finally, Zacks Investment Research raised shares of Vectren Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $63.50.
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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