Dimensional Fund Advisors LP boosted its position in Vectren Corporation (NYSE:VVC) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403,222 shares of the utilities provider’s stock after buying an additional 25,317 shares during the period. Dimensional Fund Advisors LP owned approximately 0.49% of Vectren Corporation worth $23,632,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc raised its position in shares of Vectren Corporation by 30.0% in the first quarter. IFP Advisors Inc now owns 7,427 shares of the utilities provider’s stock worth $435,000 after buying an additional 1,715 shares during the period. Russell Investments Group Ltd. raised its position in shares of Vectren Corporation by 11.7% in the first quarter. Russell Investments Group Ltd. now owns 43,505 shares of the utilities provider’s stock worth $2,550,000 after buying an additional 4,552 shares during the period. First Quadrant L P CA raised its position in shares of Vectren Corporation by 86.0% in the first quarter. First Quadrant L P CA now owns 526,223 shares of the utilities provider’s stock worth $30,842,000 after buying an additional 243,297 shares during the period. Glen Harbor Capital Management LLC raised its position in shares of Vectren Corporation by 17.3% in the first quarter. Glen Harbor Capital Management LLC now owns 7,458 shares of the utilities provider’s stock worth $437,000 after buying an additional 1,100 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Vectren Corporation by 23.0% in the first quarter. ProShare Advisors LLC now owns 173,718 shares of the utilities provider’s stock worth $10,182,000 after buying an additional 32,503 shares during the period. 64.45% of the stock is currently owned by institutional investors.
Vectren Corporation (NYSE:VVC) opened at 60.91 on Friday. Vectren Corporation has a one year low of $46.52 and a one year high of $62.79. The stock has a market cap of $5.05 billion, a PE ratio of 22.57 and a beta of 0.81. The company’s 50 day moving average is $59.63 and its 200 day moving average is $58.75.
Vectren Corporation (NYSE:VVC) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $630.70 million for the quarter, compared to analysts’ expectations of $565.12 million. Vectren Corporation had a net margin of 8.66% and a return on equity of 12.65%. Vectren Corporation’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 earnings per share. On average, equities research analysts expect that Vectren Corporation will post $2.62 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, August 11th. This represents a $1.68 annualized dividend and a yield of 2.76%. Vectren Corporation’s payout ratio is presently 62.22%.
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A number of equities analysts have recently issued reports on VVC shares. Citigroup Inc. increased their price objective on shares of Vectren Corporation from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. BidaskClub upgraded shares of Vectren Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, Zacks Investment Research upgraded shares of Vectren Corporation from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Thursday, July 13th. One research 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 has a consensus rating of “Hold” and an average price target of $65.50.
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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