Vectren Corporation (NYSE:VVC) declared a quarterly dividend on Thursday, August 3rd, RTT News reports. Investors of record on Tuesday, August 15th will be paid a dividend of 0.42 per share by the utilities provider on Friday, September 1st. This represents a $1.68 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, August 11th.
Vectren Corporation has increased its dividend payment by an average of 4.4% per year over the last three years and has raised its dividend annually for the last 57 consecutive years. Vectren Corporation has a payout ratio of 64.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Vectren Corporation to earn $2.80 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 60.0%.
Vectren Corporation (NYSE VVC) traded down 1.00% on Friday, reaching $60.13. The company had a trading volume of 415,450 shares. Vectren Corporation has a 12 month low of $46.52 and a 12 month high of $62.79. The stock has a 50 day moving average of $59.46 and a 200 day moving average of $58.53. The firm has a market capitalization of $4.99 billion, a PE ratio of 22.28 and a beta of 0.81.
Vectren Corporation (NYSE:VVC) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Vectren Corporation had a net margin of 8.66% and a return on equity of 12.65%. The firm had revenue of $630.70 million during the quarter, compared to analyst estimates of $565.12 million. During the same quarter in the previous year, the business earned $0.39 EPS. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, analysts anticipate that Vectren Corporation will post $2.62 EPS for the current year.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Vectren Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub cut shares of Vectren Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Citigroup Inc. boosted their price target on shares of Vectren Corporation from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $65.50.
Vectren Corporation 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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