Retirement Systems of Alabama increased its stake in Vectren Corp. (NYSE:VVC) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 106,815 shares of the company’s stock after buying an additional 85 shares during the period. Retirement Systems of Alabama’s holdings in Vectren Corp. were worth $5,626,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. M&T Bank Corp bought a new stake in shares of Vectren Corp. during the first quarter valued at approximately $200,000. Oakbrook Investments LLC bought a new stake in shares of Vectren Corp. during the second quarter valued at approximately $233,000. LS Investment Advisors LLC increased its stake in shares of Vectren Corp. by 73.7% in the second quarter. LS Investment Advisors LLC now owns 4,974 shares of the company’s stock valued at $262,000 after buying an additional 2,111 shares during the period. Creative Planning increased its stake in shares of Vectren Corp. by 15.9% in the second quarter. Creative Planning now owns 5,723 shares of the company’s stock valued at $301,000 after buying an additional 784 shares during the period. Finally, Prudential PLC bought a new stake in shares of Vectren Corp. during the first quarter valued at approximately $293,000. 62.90% of the stock is owned by hedge funds and other institutional investors.
Vectren Corp. (NYSE:VVC) traded up 0.68% during trading on Wednesday, hitting $47.46. The stock had a trading volume of 533,853 shares. Vectren Corp. has a 1-year low of $39.43 and a 1-year high of $53.33. The stock’s 50-day moving average price is $49.42 and its 200-day moving average price is $50.23. The company has a market capitalization of $3.93 billion, a P/E ratio of 21.23 and a beta of 0.60.
Vectren Corp. (NYSE:VVC) last posted its earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The business earned $533.70 million during the quarter, compared to the consensus estimate of $585.40 million. Vectren Corp. had a return on equity of 10.99% and a net margin of 8.06%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 earnings per share. Analysts expect that Vectren Corp. will post $2.47 earnings per share for the current year.
Several brokerages have recently commented on VVC. Zacks Investment Research raised Vectren Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, June 16th. Citigroup Inc. increased their price objective on Vectren Corp. from $44.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th.
About Vectren Corp.
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).