HL Financial Services LLC lowered its position in Vectren Corporation (NYSE:VVC) by 4.3% during the second quarter, Holdings Channel reports. The institutional investor owned 17,002 shares of the utilities provider’s stock after selling 773 shares during the period. HL Financial Services LLC’s holdings in Vectren Corporation were worth $993,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in VVC. BlackRock Inc. boosted its position in 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 in the last quarter. Vanguard Group Inc. raised 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 last quarter. Bank of New York Mellon Corp raised its stake in shares of Vectren Corporation by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 1,548,286 shares of the utilities provider’s stock worth $90,744,000 after buying an additional 65,214 shares during the last quarter. Goldman Sachs Group Inc. raised 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 last quarter. Finally, Epoch Investment Partners Inc. raised its stake in shares of Vectren Corporation by 15.1% in the first quarter. Epoch Investment Partners Inc. now owns 1,046,236 shares of the utilities provider’s stock worth $61,320,000 after buying an additional 137,179 shares during the last quarter. 64.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Vectren Corporation (NYSE VVC) opened at 61.16 on Friday. Vectren Corporation has a one year low of $46.52 and a one year high of $62.79. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 22.66 and a beta of 0.81. The company’s 50-day moving average is $59.46 and its 200-day moving average is $58.49.
Vectren Corporation (NYSE:VVC) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The company had revenue of $630.70 million during the quarter, compared to analyst estimates of $565.12 million. Vectren Corporation had a net margin of 8.66% and a return on equity of 12.65%. Vectren Corporation’s revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. On average, equities analysts predict that Vectren Corporation will post $2.62 EPS for the current year.
The business also recently announced 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. This represents a $1.68 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Friday, August 11th. Vectren Corporation’s dividend payout ratio (DPR) is presently 62.22%.
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A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Vectren Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. BidaskClub lowered shares of Vectren Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Citigroup Inc. lifted their price objective on shares of Vectren Corporation from $58.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target 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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