State Treasurer State of Michigan reduced its stake in Vectren Corp (NYSE:VVC) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 70,860 shares of the utilities provider’s stock after selling 1,100 shares during the quarter. State Treasurer State of Michigan’s holdings in Vectren were worth $5,101,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Sound Income Strategies LLC raised its holdings in Vectren by 50,000.0% in the 4th quarter. Sound Income Strategies LLC now owns 501 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 500 shares during the period. Virtus ETF Advisers LLC bought a new position in Vectren in the 3rd quarter worth $140,000. First Hawaiian Bank bought a new position in Vectren in the 3rd quarter worth $173,000. Jane Street Group LLC bought a new position in Vectren in the 3rd quarter worth $238,000. Finally, Cerebellum GP LLC raised its holdings in Vectren by 36.3% in the 4th quarter. Cerebellum GP LLC now owns 3,541 shares of the utilities provider’s stock worth $255,000 after purchasing an additional 944 shares during the period. 52.83% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research cut Vectren from a “hold” rating to a “sell” rating in a report on Friday, November 30th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $66.00.
Shares of Vectren stock opened at $72.38 on Friday. Vectren Corp has a one year low of $58.00 and a one year high of $72.40. The firm has a market capitalization of $7.32 billion, a P/E ratio of 27.84, a P/E/G ratio of 3.95 and a beta of 0.33. The company has a current ratio of 0.69, a quick ratio of 0.55 and a debt-to-equity ratio of 1.06.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 14th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, February 13th. This represents a $1.92 dividend on an annualized basis and a yield of 2.65%. Vectren’s dividend payout ratio is currently 73.85%.
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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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