Guggenheim Lowers Vectren (VVC) to Neutral

Guggenheim lowered shares of Vectren (NYSE:VVC) from a buy rating to a neutral rating in a research note published on Tuesday morning, Marketbeat Ratings reports.

Several other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of Vectren from a buy rating to a hold rating in a research report on Friday, December 1st. Citigroup lifted their price objective on shares of Vectren from $66.00 to $75.00 and gave the stock a buy rating in a research report on Monday, November 20th. Finally, Zacks Investment Research raised shares of Vectren from a sell rating to a hold rating in a research report on Thursday, October 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $70.00.

Shares of Vectren (VVC) opened at $62.89 on Tuesday. The stock has a market cap of $5,316.30, a price-to-earnings ratio of 23.21, a PEG ratio of 3.80 and a beta of 0.83. Vectren has a 1 year low of $51.75 and a 1 year high of $69.86. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.70.

Vectren (NYSE:VVC) last released its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The business had revenue of $691.20 million during the quarter, compared to analysts’ expectations of $615.00 million. Vectren had a net margin of 8.49% and a return on equity of 12.51%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. research analysts anticipate that Vectren will post 2.62 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Schroder Investment Management Group lifted its position in Vectren by 5.2% in the second quarter. Schroder Investment Management Group now owns 1,018,360 shares of the utilities provider’s stock valued at $59,757,000 after acquiring an additional 50,768 shares during the last quarter. Balyasny Asset Management LLC lifted its position in Vectren by 132.3% in the second quarter. Balyasny Asset Management LLC now owns 12,774 shares of the utilities provider’s stock valued at $747,000 after acquiring an additional 7,274 shares during the last quarter. Eaton Vance Management lifted its position in Vectren by 42.3% in the second quarter. Eaton Vance Management now owns 11,271 shares of the utilities provider’s stock valued at $659,000 after acquiring an additional 3,351 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in Vectren by 3.4% in the third quarter. Great West Life Assurance Co. Can now owns 50,954 shares of the utilities provider’s stock valued at $3,360,000 after acquiring an additional 1,672 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its position in Vectren by 112.7% in the second quarter. Riverhead Capital Management LLC now owns 12,825 shares of the utilities provider’s stock valued at $749,000 after acquiring an additional 6,795 shares during the last quarter. 63.97% of the stock is owned by hedge funds and other institutional investors.

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About Vectren

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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