Sabal Trust CO acquired a new position in Scana Corp. (NYSE:SCG) during the second quarter, Holdings Channel reports. The fund acquired 4,300 shares of the company’s stock, valued at approximately $325,000.
A number of other large investors have also made changes to their positions in SCG. Pennsylvania Trust Co increased its position in shares of Scana Corp. by 1.4% in the second quarter. Pennsylvania Trust Co now owns 2,924 shares of the company’s stock valued at $221,000 after buying an additional 40 shares in the last quarter. ING Groep NV increased its position in shares of Scana Corp. by 2.9% in the second quarter. ING Groep NV now owns 8,231 shares of the company’s stock worth $623,000 after buying an additional 230 shares during the period. Palladium Partners LLC increased its position in shares of Scana Corp. by 5.0% in the second quarter. Palladium Partners LLC now owns 6,299 shares of the company’s stock worth $477,000 after buying an additional 299 shares during the period. Somerset Trust Co increased its position in shares of Scana Corp. by 3.8% in the second quarter. Somerset Trust Co now owns 8,329 shares of the company’s stock worth $630,000 after buying an additional 303 shares during the period. Finally, Retirement Systems of Alabama increased its position in shares of Scana Corp. by 0.4% in the second quarter. Retirement Systems of Alabama now owns 72,861 shares of the company’s stock worth $5,513,000 after buying an additional 306 shares during the period. Institutional investors and hedge funds own 64.84% of the company’s stock.
Scana Corp. (NYSE:SCG) traded down 3.02% on Tuesday, reaching $69.37. 899,993 shares of the company’s stock traded hands. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 18.78 and a beta of 0.24. Scana Corp. has a 12-month low of $55.36 and a 12-month high of $76.41. The stock has a 50 day moving average price of $72.11 and a 200 day moving average price of $71.39.
Scana Corp. (NYSE:SCG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. Scana Corp. had a net margin of 12.88% and a return on equity of 9.82%. The firm had revenue of $905 million for the quarter, compared to the consensus estimate of $986.95 million. During the same quarter in the previous year, the firm earned $0.69 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. Analysts forecast that Scana Corp. will post $3.97 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Monday, September 12th were given a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Thursday, September 8th. Scana Corp.’s payout ratio is currently 62.16%.
A number of brokerages recently weighed in on SCG. Zacks Investment Research downgraded shares of Scana Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Williams Capital restated a “buy” rating on shares of Scana Corp. in a research report on Monday, September 12th. Mizuho increased their price objective on shares of Scana Corp. from $74.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, June 14th. Finally, Morgan Stanley downgraded shares of Scana Corp. from an “equal weight” rating to an “underweight” rating and set a $67.00 price objective on the stock. in a research report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus 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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