Vectren Corporation (NYSE:VVC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Vectren Corp., through its regulated subsidiaries Indiana Gas and SIGECO, offers gas and/or electricity to customers in adjoining service areas that cover nearly two-thirds of Indiana. Vectren’s non-regulated subsidiaries currently offer energy-related products and services, including energy marketing, fiber-optic based communication services, and utility related services including materials management, debt collections, locating, meter reading and trenching services to customers throughout the surrounding region. (PRESS RELEASE) “
Separately, BidaskClub raised Vectren Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $65.50.
Shares of Vectren Corporation (NYSE:VVC) traded down 1.19% during mid-day trading on Tuesday, reaching $67.30. The company’s stock had a trading volume of 65,143 shares. The firm has a market capitalization of $5.58 billion, a P/E ratio of 24.94 and a beta of 0.81. The company’s 50-day moving average is $62.72 and its 200 day moving average is $59.96. Vectren Corporation has a 1-year low of $46.52 and a 1-year high of $68.08.
Vectren Corporation (NYSE:VVC) last released 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 return on equity of 12.65% and a net margin of 8.66%. The company had revenue of $630.70 million during the quarter, compared to analysts’ expectations of $565.12 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, analysts expect that Vectren Corporation will post $2.62 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This story was first reported by Stock Observer and is the property of of Stock Observer. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this story can be viewed at https://www.thestockobserver.com/2017/09/12/vectren-corporation-vvc-rating-increased-to-hold-at-zacks-investment-research.html.
A number of institutional investors have recently added to or reduced their stakes in VVC. Russell Investments Group Ltd. increased its stake in Vectren Corporation by 11.7% in the first quarter. Russell Investments Group Ltd. now owns 43,505 shares of the utilities provider’s stock valued at $2,550,000 after purchasing an additional 4,552 shares during the last quarter. Wells Fargo & Company MN increased its stake in Vectren Corporation by 117.5% in the first quarter. Wells Fargo & Company MN now owns 73,057 shares of the utilities provider’s stock valued at $4,282,000 after purchasing an additional 39,474 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Vectren Corporation in the first quarter valued at $3,341,000. Great West Life Assurance Co. Can increased its stake in Vectren Corporation by 4.7% in the first quarter. Great West Life Assurance Co. Can now owns 48,870 shares of the utilities provider’s stock valued at $2,863,000 after purchasing an additional 2,175 shares during the last quarter. Finally, Eqis Capital Management Inc. acquired a new position in Vectren Corporation in the first quarter valued at $228,000. Hedge funds and other institutional investors own 63.83% of the company’s stock.
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).
Receive News & Ratings for Vectren Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vectren Corporation and related companies with MarketBeat.com's FREE daily email newsletter.