Gideon Capital Advisors Inc. increased its position in shares of Vectren Corp (NYSE:VVC) by 65.9% in the second quarter, HoldingsChannel.com reports. The firm owned 5,709 shares of the utilities provider’s stock after purchasing an additional 2,268 shares during the quarter. Gideon Capital Advisors Inc.’s holdings in Vectren were worth $408,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Dupont Capital Management Corp purchased a new position in shares of Vectren during the 2nd quarter worth about $3,708,000. FTB Advisors Inc. boosted its stake in shares of Vectren by 5.9% during the 1st quarter. FTB Advisors Inc. now owns 46,957 shares of the utilities provider’s stock worth $3,008,000 after purchasing an additional 2,622 shares during the period. First Financial Bank Trust Division purchased a new position in shares of Vectren during the 2nd quarter worth about $225,000. State of Alaska Department of Revenue boosted its stake in shares of Vectren by 187.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 55,560 shares of the utilities provider’s stock worth $3,969,000 after purchasing an additional 36,260 shares during the period. Finally, Creative Planning boosted its stake in shares of Vectren by 8.6% during the 2nd quarter. Creative Planning now owns 12,089 shares of the utilities provider’s stock worth $864,000 after purchasing an additional 953 shares during the period. 64.84% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on VVC shares. Citigroup cut shares of Vectren from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research report on Wednesday, April 25th. Zacks Investment Research cut shares of Vectren from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $66.00.
Vectren stock opened at $71.50 on Monday. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 3.56 and a beta of 0.52. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.71 and a quick ratio of 0.58. Vectren Corp has a 1 year low of $58.00 and a 1 year high of $71.74.
Vectren (NYSE:VVC) last released its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. The company had revenue of $644.00 million during the quarter, compared to analysts’ expectations of $688.00 million. Vectren had a net margin of 7.72% and a return on equity of 12.33%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. research analysts expect that Vectren Corp will post 2.87 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Wednesday, August 15th will be given a $0.45 dividend. The ex-dividend date is Tuesday, August 14th. This represents a $1.80 annualized dividend and a yield of 2.52%. Vectren’s dividend payout ratio (DPR) is 69.23%.
Vectren Corporation provides energy delivery services to residential, commercial, and industrial and other contract customers. The company offers natural gas distribution and transportation services, and electric transmission and distribution services; and owns and operates coal-fired, natural gas or oil-fired, and landfill gas electric generating facilities with an installed generating capacity of 1,248 megawatts.
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