Nisa Investment Advisors LLC raised its stake in Scana Corporation (NYSE:SCG) by 51.0% during the second quarter, Holdings Channel reports. The institutional investor owned 7,400 shares of the utilities provider’s stock after buying an additional 2,500 shares during the period. Nisa Investment Advisors LLC’s holdings in Scana Corporation were worth $496,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TNB Financial boosted its position in Scana Corporation by 1.5% in the second quarter. TNB Financial now owns 4,247 shares of the utilities provider’s stock valued at $285,000 after buying an additional 63 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Scana Corporation by 2.5% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 8,215 shares of the utilities provider’s stock valued at $550,000 after buying an additional 200 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Scana Corporation by 508.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 22,042 shares of the utilities provider’s stock valued at $1,477,000 after buying an additional 18,421 shares in the last quarter. Somerset Trust Co boosted its position in Scana Corporation by 3.0% in the second quarter. Somerset Trust Co now owns 9,102 shares of the utilities provider’s stock valued at $609,000 after buying an additional 265 shares in the last quarter. Finally, Creative Planning boosted its position in Scana Corporation by 7.2% in the second quarter. Creative Planning now owns 9,935 shares of the utilities provider’s stock valued at $666,000 after buying an additional 667 shares in the last quarter. 67.56% of the stock is owned by institutional investors and hedge funds.
Shares of Scana Corporation (NYSE:SCG) traded down 1.44% during mid-day trading on Thursday, hitting $61.80. The company had a trading volume of 516,816 shares. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 14.59 and a beta of 0.25. Scana Corporation has a 52-week low of $60.00 and a 52-week high of $75.92. The stock’s 50-day moving average is $65.60 and its 200-day moving average is $67.05.
Scana Corporation (NYSE:SCG) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $931.67 million. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. Equities analysts forecast that Scana Corporation will post $4.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Monday, September 11th will be paid a $0.6125 dividend. The ex-dividend date is Friday, September 8th. This represents a $2.45 dividend on an annualized basis and a yield of 3.91%. Scana Corporation’s dividend payout ratio (DPR) is 57.68%.
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Several research firms have recently issued reports on SCG. Mizuho reaffirmed an “underperform” rating and set a $59.50 price objective (up from $57.00) on shares of Scana Corporation in a research report on Tuesday, August 1st. Barclays PLC raised Scana Corporation from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $65.00 to $73.00 in a research report on Tuesday, August 1st. Guggenheim cut Scana Corporation from a “buy” rating to a “sell” rating in a research report on Friday, July 28th. Gabelli cut Scana Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, BidaskClub raised Scana Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Scana Corporation presently has a consensus rating of “Hold” and an average target price of $71.44.
About Scana Corporation
SCANA Corporation is a holding company. The Company, through its subsidiaries, is engaged in the generation, transmission, distribution and sale of electricity in South Carolina. The Company operates through segments, including Electric Operations, Gas Distribution, Gas Marketing and All Other. The Company is engaged in the purchase, transmission and sale of natural gas in North Carolina and South Carolina.
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