Archford Capital Strategies LLC lessened its stake in Vectren Corp (NYSE:VVC) by 17.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,875 shares of the utilities provider’s stock after selling 2,435 shares during the quarter. Archford Capital Strategies LLC’s holdings in Vectren were worth $772,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of VVC. Macquarie Group Ltd. lifted its holdings in shares of Vectren by 7.8% in the 4th quarter. Macquarie Group Ltd. now owns 21,900 shares of the utilities provider’s stock valued at $138,000 after buying an additional 1,589 shares during the period. Assetmark Inc. increased its stake in shares of Vectren by 12,841.2% in the 4th quarter. Assetmark Inc. now owns 2,200 shares of the utilities provider’s stock valued at $143,000 after purchasing an additional 2,183 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Vectren in the 4th quarter valued at about $163,000. Telemus Capital LLC purchased a new position in shares of Vectren in the 4th quarter valued at about $175,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Vectren in the 3rd quarter valued at about $203,000. 64.13% of the stock is owned by institutional investors and hedge funds.
VVC stock opened at $63.19 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 0.94. Vectren Corp has a 52 week low of $57.07 and a 52 week high of $69.86. The firm has a market capitalization of $5,341.15, a PE ratio of 24.21, a P/E/G ratio of 3.54 and a beta of 0.67.
Vectren (NYSE:VVC) last announced its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.02). Vectren had a net margin of 8.13% and a return on equity of 11.91%. The business had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $620.00 million. During the same quarter in the prior year, the firm earned $0.84 EPS. Vectren’s revenue for the quarter was up 1.7% on a year-over-year basis. research analysts forecast that Vectren Corp will post 2.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.80 annualized dividend and a yield of 2.85%. Vectren’s dividend payout ratio (DPR) is currently 68.97%.
VVC has been the subject of several recent analyst reports. Guggenheim restated a “hold” rating and issued a $61.00 price target on shares of Vectren in a research note on Friday, February 23rd. Wells Fargo set a $58.00 price target on Vectren and gave the company a “hold” rating in a research note on Tuesday, February 13th. ValuEngine lowered Vectren from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Bank of America restated a “neutral” rating on shares of Vectren in a research note on Tuesday, February 27th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $64.75.
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Vectren 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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