Shell Asset Management Co. increased its position in Scana Corp. (NYSE:SCG) by 3.6% during the second quarter, Holdings Channel reports. The fund owned 37,672 shares of the company’s stock after buying an additional 1,296 shares during the period. Shell Asset Management Co.’s holdings in Scana Corp. were worth $2,850,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in SCG. State Street Corp boosted its stake in shares of Scana Corp. by 6.7% in the first quarter. State Street Corp now owns 7,429,893 shares of the company’s stock worth $521,200,000 after buying an additional 469,496 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Scana Corp. by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,929,789 shares of the company’s stock worth $275,675,000 after buying an additional 34,076 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Scana Corp. by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,674,675 shares of the company’s stock worth $257,778,000 after buying an additional 170,306 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Scana Corp. by 3.0% in the first quarter. Geode Capital Management LLC now owns 1,185,549 shares of the company’s stock worth $83,002,000 after buying an additional 34,768 shares during the last quarter. Finally, Energy Income Partners LLC boosted its stake in shares of Scana Corp. by 36.2% in the first quarter. Energy Income Partners LLC now owns 611,512 shares of the company’s stock worth $42,898,000 after buying an additional 162,463 shares during the last quarter. 64.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Scana Corp. (NYSE:SCG) traded up 0.62% on Friday, reaching $74.99. The company had a trading volume of 1,016,483 shares. Scana Corp. has a 52-week low of $53.83 and a 52-week high of $76.41. The company’s 50-day moving average price is $72.05 and its 200-day moving average price is $71.06. The firm has a market capitalization of $10.72 billion, a price-to-earnings ratio of 20.30 and a beta of 0.22.
Scana Corp. (NYSE:SCG) last posted its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $905 million for the quarter, compared to analyst estimates of $986.95 million. Scana Corp. had a return on equity of 9.82% and a net margin of 12.88%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 EPS. On average, analysts predict that Scana Corp. will post $3.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Monday, September 12th will be paid a $0.575 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.30 annualized dividend and a yield of 3.07%. Scana Corp.’s dividend payout ratio (DPR) is presently 62.16%.
Several equities research analysts have recently weighed in on SCG shares. Zacks Investment Research raised Scana Corp. from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research report on Tuesday, August 16th. Morgan Stanley cut Scana Corp. from an “equal weight” rating to an “underweight” rating and set a $67.00 price objective for the company. in a research report on Wednesday, June 15th. Mizuho increased their price objective on Scana Corp. from $74.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, June 14th. Finally, Williams Capital reissued a “buy” rating on shares of Scana Corp. in a research report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Scana Corp. currently has an average rating of “Hold” and an average target price of $71.58.
Scana Corp. Company Profile
SCANA Corporation is a holding company. The Company, through its subsidiaries, is engaged in generation, transmission, distribution and sale of electricity, and the purchase, sale and transportation of natural gas in North Carolina and South Carolina. It operates through segments, including Electric Operations, Gas Distribution, Retail Gas Marketing, Energy Marketing and All Other.
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