ING Groep NV raised its stake in Scana Corp. (NYSE:SCG) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,231 shares of the company’s stock after buying an additional 230 shares during the period. ING Groep NV’s holdings in Scana Corp. were worth $623,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Scana Corp. during the fourth quarter valued at about $35,838,000. State Street Corp increased its position 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 valued at $521,200,000 after buying an additional 469,496 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Scana Corp. by 83.8% in the first quarter. JPMorgan Chase & Co. now owns 414,461 shares of the company’s stock valued at $29,074,000 after buying an additional 189,009 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Scana Corp. during the second quarter valued at about $13,313,000. Finally, Goldman Sachs Group Inc. increased its position 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 valued at $257,778,000 after buying an additional 170,306 shares during the last quarter. 64.84% of the stock is currently owned by institutional investors.
Shares of Scana Corp. (NYSE:SCG) traded up 0.09% during mid-day trading on Friday, hitting $69.17. 961,311 shares of the company traded hands. The firm has a 50-day moving average price of $71.76 and a 200 day moving average price of $71.37. Scana Corp. has a 52-week low of $55.63 and a 52-week high of $76.41. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 18.72 and a beta of 0.24.
Scana Corp. (NYSE:SCG) last issued its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.74. The company had revenue of $905 million for the quarter, compared to analysts’ expectations of $986.95 million. Scana Corp. had a net margin of 12.88% and a return on equity of 9.82%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. Equities research analysts anticipate that Scana Corp. will post $3.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Monday, September 12th were issued a dividend of $0.575 per share. The ex-dividend date was Thursday, September 8th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.33%. Scana Corp.’s dividend payout ratio (DPR) is 62.16%.
Several research analysts have issued reports on SCG shares. Zacks Investment Research raised shares of Scana Corp. from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research report on Wednesday, September 21st. 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. Williams Capital reissued a “buy” rating on shares of Scana Corp. in a research report on Monday, September 12th. Finally, Mizuho raised their price objective on shares of Scana Corp. from $74.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target 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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