Cigna Investments Inc. New cut its stake in shares of Vectren Corporation (NYSE:VVC) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,803 shares of the utilities provider’s stock after selling 100 shares during the period. Cigna Investments Inc. New’s holdings in Vectren Corporation were worth $1,566,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Global X Management Co. LLC raised its position in Vectren Corporation by 220.7% in the second quarter. Global X Management Co. LLC now owns 2,630 shares of the utilities provider’s stock valued at $154,000 after buying an additional 1,810 shares during the last quarter. TD Asset Management Inc. raised its position in Vectren Corporation by 5.7% in the second quarter. TD Asset Management Inc. now owns 8,551 shares of the utilities provider’s stock valued at $500,000 after buying an additional 463 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in Vectren Corporation by 2.4% in the second quarter. Stratos Wealth Partners LTD. now owns 3,518 shares of the utilities provider’s stock valued at $206,000 after buying an additional 84 shares during the last quarter. Sei Investments Co. raised its position in Vectren Corporation by 674.3% in the second quarter. Sei Investments Co. now owns 15,276 shares of the utilities provider’s stock valued at $893,000 after buying an additional 13,303 shares during the last quarter. Finally, Texas Permanent School Fund raised its position in Vectren Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 60,565 shares of the utilities provider’s stock valued at $3,539,000 after buying an additional 529 shares during the last quarter. Institutional investors and hedge funds own 64.45% of the company’s stock.
Shares of Vectren Corporation (VVC) traded up 0.53% during trading on Friday, hitting $60.91. 204,850 shares of the stock traded hands. Vectren Corporation has a 12 month low of $46.52 and a 12 month high of $62.79. The company has a 50 day moving average price of $59.63 and a 200 day moving average price of $58.75. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 22.57 and a beta of 0.81.
Vectren Corporation (NYSE:VVC) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The business had revenue of $630.70 million during 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%. The business’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 company earned $0.39 earnings per share. Analysts anticipate that Vectren Corporation will post $2.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a $0.42 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.68 annualized dividend and a yield of 2.76%. Vectren Corporation’s dividend payout ratio (DPR) is presently 62.22%.
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Several equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Vectren Corporation from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub upgraded shares of Vectren Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Finally, Citigroup Inc. boosted their target price on shares of Vectren Corporation from $58.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Vectren Corporation currently has a consensus rating of “Hold” and an average target price 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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