Neuburgh Advisers LLC raised its stake in shares of Vectren Corporation (NYSE:VVC) by 17.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,424 shares of the utilities provider’s stock after buying an additional 800 shares during the period. Neuburgh Advisers LLC’s holdings in Vectren Corporation were worth $318,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sei Investments Co. raised its stake in shares of Vectren Corporation by 20.0% in the first quarter. Sei Investments Co. now owns 1,973 shares of the utilities provider’s stock worth $115,000 after buying an additional 329 shares during the period. GW Henssler & Associates Ltd. purchased a new stake in shares of Vectren Corporation during the first quarter worth approximately $202,000. Eqis Capital Management Inc. bought a new position in shares of Vectren Corporation during the first quarter worth about $228,000. Gideon Capital Advisors Inc. bought a new position in shares of Vectren Corporation during the fourth quarter worth about $206,000. Finally, Pacad Investment Ltd. boosted its position in shares of Vectren Corporation by 115.8% in the fourth quarter. Pacad Investment Ltd. now owns 4,100 shares of the utilities provider’s stock worth $214,000 after buying an additional 2,200 shares during the period. 64.87% of the stock is owned by hedge funds and other institutional investors.
Vectren Corporation (VVC) traded up 0.80% during midday trading on Friday, reaching $62.06. The company’s stock had a trading volume of 512,259 shares. Vectren Corporation has a 52-week low of $46.52 and a 52-week high of $62.79. The firm has a 50 day moving average of $60.37 and a 200 day moving average of $56.53. The firm has a market cap of $5.15 billion, a P/E ratio of 23.51 and a beta of 0.78.
Vectren Corporation (NYSE:VVC) last announced its quarterly earnings results on Monday, May 8th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. The business had revenue of $624.50 million for the quarter, compared to analyst estimates of $595.84 million. Vectren Corporation had a return on equity of 12.51% and a net margin of 8.79%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 earnings per share. Analysts anticipate that Vectren Corporation will post $2.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 15th were issued a $0.42 dividend. The ex-dividend date was Thursday, May 11th. This represents a $1.68 annualized dividend and a yield of 2.71%. Vectren Corporation’s payout ratio is currently 63.64%.
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A number of equities analysts have issued reports on VVC shares. Citigroup Inc. raised their target price on Vectren Corporation from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. BidaskClub cut Vectren Corporation from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Zacks Investment Research cut Vectren Corporation from a “buy” rating to a “hold” rating in a report on Saturday, February 25th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $63.50.
About Vectren Corporation
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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