Renaissance Technologies LLC lifted its position in shares of Vectren Corp (NYSE:VVC) by 14.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,057,400 shares of the utilities provider’s stock after purchasing an additional 132,700 shares during the period. Renaissance Technologies LLC’s holdings in Vectren were worth $68,752,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Aurora Investment Counsel purchased a new stake in shares of Vectren during the 4th quarter worth about $1,136,000. Dalton Greiner Hartman Maher & Co. grew its holdings in shares of Vectren by 3.4% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 307,877 shares of the utilities provider’s stock worth $20,018,000 after purchasing an additional 10,015 shares during the period. Davidson Kempner Capital Management LP purchased a new stake in shares of Vectren during the 3rd quarter worth about $6,807,000. Janus Henderson Group PLC grew its holdings in shares of Vectren by 4.2% during the 3rd quarter. Janus Henderson Group PLC now owns 160,410 shares of the utilities provider’s stock worth $10,550,000 after purchasing an additional 6,400 shares during the period. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Vectren by 3.4% during the 3rd quarter. Great West Life Assurance Co. Can now owns 50,954 shares of the utilities provider’s stock worth $3,360,000 after purchasing an additional 1,672 shares during the period. Institutional investors and hedge funds own 63.98% of the company’s stock.
A number of brokerages have recently issued reports on VVC. ValuEngine cut Vectren from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Citigroup boosted their target price on Vectren from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 20th. Guggenheim cut Vectren from a “buy” rating to a “neutral” rating in a report on Tuesday, January 2nd. Bank of America reiterated a “neutral” rating on shares of Vectren in a report on Tuesday, February 27th. Finally, Wells Fargo & Co set a $58.00 target price on Vectren and gave the stock a “hold” rating in a report on Tuesday, February 13th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Vectren currently has an average rating of “Hold” and an average target price of $64.75.
Vectren (NYSE:VVC) last released its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.02). The company had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $620.00 million. Vectren had a return on equity of 11.91% and a net margin of 8.13%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 EPS. equities analysts forecast that Vectren Corp will post 2.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Wednesday, February 14th. Vectren’s dividend payout ratio is presently 68.97%.
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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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