Zacks: Brokerages Set $56.33 Target Price for Vectren Corp (VVC)

Vectren Corp (NYSE:VVC) has been given a consensus broker rating score of 2.86 (Hold) from the seven analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a strong buy recommendation to the company.

Brokers have set a twelve-month consensus price objective of $56.33 for the company and are expecting that the company will post $0.44 EPS for the current quarter, according to Zacks. Zacks has also given Vectren Corp an industry rank of 67 out of 265 based on the ratings given to its competitors.

A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Vectren Corp from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Thursday. BidaskClub downgraded shares of Vectren Corp from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Finally, Citigroup Inc. increased their price objective on shares of Vectren Corp from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th.

Shares of Vectren Corp (NYSE VVC) traded up 0.83% during midday trading on Tuesday, reaching $58.54. 235,054 shares of the company traded hands. Vectren Corp has a 12 month low of $46.52 and a 12 month high of $62.79. The firm has a market capitalization of $4.86 billion, a P/E ratio of 22.17 and a beta of 0.81. The company has a 50 day moving average of $60.59 and a 200 day moving average of $57.17.

Vectren Corp (NYSE:VVC) last posted its quarterly earnings data on Monday, May 8th. The utilities provider reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. Vectren Corp had a net margin of 8.87% and a return on equity of 12.49%. The firm had revenue of $624.50 million for the quarter, compared to the consensus estimate of $595.84 million. During the same period in the prior year, the firm posted $0.58 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts predict that Vectren Corp will post $2.62 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of VVC. Eqis Capital Management Inc. increased its position in Vectren Corp by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 3,921 shares of the utilities provider’s stock worth $229,000 after buying an additional 25 shares during the period. James Investment Research Inc. increased its position in Vectren Corp by 362.9% in the second quarter. James Investment Research Inc. now owns 185,455 shares of the utilities provider’s stock worth $10,838,000 after buying an additional 145,393 shares during the period. Meeder Asset Management Inc. increased its position in Vectren Corp by 1,231.6% in the second quarter. Meeder Asset Management Inc. now owns 55,168 shares of the utilities provider’s stock worth $3,224,000 after buying an additional 51,025 shares during the period. State of Alaska Department of Revenue increased its position in Vectren Corp by 6.7% in the second quarter. State of Alaska Department of Revenue now owns 5,538 shares of the utilities provider’s stock worth $323,000 after buying an additional 348 shares during the period. Finally, Capstone Asset Management Co. increased its position in Vectren Corp by 1.4% in the second quarter. Capstone Asset Management Co. now owns 7,236 shares of the utilities provider’s stock worth $423,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 64.46% of the company’s stock.

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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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