First Citizens Bank & Trust Co. cut its position in Scana Corp. (NYSE:SCG) by 3.4% during the second quarter, Holdings Channel reports. The institutional investor owned 10,976 shares of the company’s stock after selling 382 shares during the period. First Citizens Bank & Trust Co.’s holdings in Scana Corp. were worth $830,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the company. State Street Corp raised 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 period. JPMorgan Chase & Co. raised 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 period. Bank of Montreal Can purchased a new position in shares of Scana Corp. during the second quarter valued at approximately $13,313,000. Goldman Sachs Group Inc. raised 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 period. Finally, Energy Income Partners LLC raised its position 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 valued at $42,898,000 after buying an additional 162,463 shares during the period. Institutional investors and hedge funds own 64.86% of the company’s stock.
Shares of Scana Corp. (NYSE:SCG) traded up 1.58% during midday trading on Thursday, reaching $70.03. The company had a trading volume of 358,867 shares. The stock has a 50-day moving average of $71.44 and a 200 day moving average of $71.38. The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of 18.96 and a beta of 0.24. Scana Corp. has a 52 week low of $55.85 and a 52 week high of $76.41.
Scana Corp. (NYSE:SCG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.74 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.74. Scana Corp. had a return on equity of 9.82% and a net margin of 12.88%. The business had revenue of $905 million for the quarter, compared to the consensus estimate of $986.95 million. During the same period in the previous year, the business earned $0.69 earnings per share. The business’s revenue was down 6.4% on a year-over-year basis. On average, analysts anticipate that Scana Corp. will post $3.97 earnings per share for the current year.
The firm 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. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $2.30 annualized dividend and a dividend yield of 3.34%. Scana Corp.’s payout ratio is 62.16%.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered Scana Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Morgan Stanley lowered 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. Finally, Williams Capital reiterated 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, three have given a hold rating and three have given a buy rating to the company. Scana Corp. currently has an average rating of “Hold” and a consensus 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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