Vectren Corp (NYSE:VVC) has been given an average recommendation of “Hold” by the six analysts that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation. The average 1 year target price among brokers that have covered the stock in the last year is $63.67.
Separately, Zacks Investment Research upgraded shares of Vectren from a “sell” rating to a “hold” rating in a research report on Saturday.
VVC stock opened at $71.60 on Friday. Vectren has a 12 month low of $58.00 and a 12 month high of $71.96. The firm has a market capitalization of $5.97 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 3.58 and a beta of 0.38. The company has a quick ratio of 0.55, a current ratio of 0.69 and a debt-to-equity ratio of 1.06.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 15th will be given a $0.48 dividend. This is an increase from Vectren’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.92 annualized dividend and a yield of 2.68%. Vectren’s dividend payout ratio is 73.85%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Zions Bancorporation acquired a new position in Vectren in the 2nd quarter valued at $107,000. Virtus ETF Advisers LLC acquired a new position in Vectren in the 3rd quarter valued at $140,000. Centaurus Financial Inc. acquired a new position in Vectren in the 2nd quarter valued at $163,000. First Hawaiian Bank acquired a new position in Vectren in the 3rd quarter valued at $173,000. Finally, CIBC Asset Management Inc acquired a new position in Vectren in the 2nd quarter valued at $204,000. Hedge funds and other institutional investors own 65.70% of the company’s stock.
Vectren Corporation provides energy delivery services to residential, commercial, and industrial and other contract customers. The company offers natural gas distribution and transportation services, and electric transmission and distribution services; and owns and operates coal-fired, natural gas or oil-fired, and landfill gas electric generating facilities with an installed generating capacity of 1,248 megawatts.
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