Guggenheim Capital LLC cut its position in shares of Vectren Corp (NYSE:VVC) by 31.9% during the fourth quarter, Holdings Channel reports. The fund owned 53,194 shares of the company’s stock after selling 24,929 shares during the period. Guggenheim Capital LLC’s holdings in Vectren Corp were worth $2,775,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in VVC. State Street Corp boosted its position in shares of Vectren Corp by 10.7% in the fourth quarter. State Street Corp now owns 5,398,641 shares of the company’s stock worth $281,545,000 after buying an additional 520,743 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its position in shares of Vectren Corp by 2.3% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,591,040 shares of the company’s stock worth $79,870,000 after buying an additional 36,225 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Vectren Corp by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 1,428,103 shares of the company’s stock worth $71,689,000 after buying an additional 13,065 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Vectren Corp by 3.7% in the third quarter. First Trust Advisors LP now owns 1,141,699 shares of the company’s stock worth $57,313,000 after buying an additional 40,251 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Vectren Corp during the third quarter worth approximately $54,647,000. Institutional investors own 61.77% of the company’s stock.
Vectren Corp (NYSE:VVC) opened at 58.46 on Wednesday. Vectren Corp has a 52 week low of $46.52 and a 52 week high of $58.59. The company has a market capitalization of $4.85 billion, a PE ratio of 22.93 and a beta of 0.70. The stock has a 50 day moving average price of $56.28 and a 200-day moving average price of $52.12.
Vectren Corp (NYSE:VVC) last released its quarterly earnings data on Wednesday, February 22nd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. Vectren Corp had a net margin of 8.80% and a return on equity of 12.16%. The business earned $699 million during the quarter, compared to analyst estimates of $618.60 million. During the same period in the previous year, the business earned $0.79 EPS. Vectren Corp’s revenue was up 15.7% compared to the same quarter last year. On average, equities analysts predict that Vectren Corp will post $2.63 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, February 13th. This represents a $1.68 dividend on an annualized basis and a yield of 2.87%. Vectren Corp’s dividend payout ratio is 67.20%.
A number of research analysts have recently commented on VVC shares. Guggenheim upgraded Vectren Corp from a “neutral” rating to a “buy” rating in a research note on Monday, January 9th. KeyCorp upgraded Vectren Corp from a “sector weight” rating to an “overweight” rating in a research note on Thursday, January 12th. Zacks Investment Research cut Vectren Corp from a “hold” rating to a “sell” rating in a research note on Thursday, March 23rd. Finally, Citigroup Inc upgraded Vectren Corp from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $57.00.
Vectren Corp 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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