BlueCrest Capital Management Ltd acquired a new position in Vectren Corp (NYSE:VVC) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 19,594 shares of the utilities provider’s stock, valued at approximately $1,274,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Assetmark Inc. lifted its stake in Vectren by 12,841.2% in the fourth quarter. Assetmark Inc. now owns 2,200 shares of the utilities provider’s stock valued at $143,000 after buying an additional 2,183 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in Vectren in the fourth quarter valued at $163,000. Telemus Capital LLC bought a new stake in Vectren in the fourth quarter valued at $175,000. Boothbay Fund Management LLC bought a new stake in Vectren in the third quarter valued at $203,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in Vectren in the fourth quarter valued at $208,000. 63.98% of the stock is owned by hedge funds and other institutional investors.
Shares of Vectren Corp (NYSE VVC) opened at $60.85 on Tuesday. Vectren Corp has a one year low of $55.95 and a one year high of $69.86. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 0.94. The firm has a market cap of $5,041.37, a PE ratio of 23.31, a P/E/G ratio of 3.34 and a beta of 0.67.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Thursday, February 15th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Wednesday, February 14th. Vectren’s dividend payout ratio is currently 68.97%.
A number of equities research analysts have issued reports on the company. Wells Fargo & Co set a $58.00 target price on Vectren and gave the company a “hold” rating in a research note on Tuesday, February 13th. ValuEngine cut Vectren from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Guggenheim reiterated a “hold” rating and issued a $61.00 target price on shares of Vectren in a research note on Friday, February 23rd. Citigroup raised their target price on Vectren from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 20th. Finally, Bank of America reiterated a “neutral” rating on shares of Vectren in a research note on Tuesday, February 27th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $64.75.
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Vectren 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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