State of Wisconsin Investment Board cut its stake in shares of SCANA Co. (NYSE:SCG) by 28.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 155,412 shares of the utilities provider’s stock after selling 61,590 shares during the quarter. State of Wisconsin Investment Board’s holdings in SCANA were worth $6,182,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in SCG. SeaCrest Wealth Management LLC acquired a new position in SCANA during the 4th quarter worth about $109,000. Willingdon Wealth Management acquired a new position in SCANA during the 3rd quarter worth about $112,000. Dupont Capital Management Corp lifted its holdings in SCANA by 241.1% during the 4th quarter. Dupont Capital Management Corp now owns 2,985 shares of the utilities provider’s stock worth $119,000 after buying an additional 2,110 shares during the period. Amica Retiree Medical Trust lifted its holdings in SCANA by 219.1% during the 3rd quarter. Amica Retiree Medical Trust now owns 2,693 shares of the utilities provider’s stock worth $131,000 after buying an additional 1,849 shares during the period. Finally, First Allied Advisory Services Inc. acquired a new position in SCANA during the 4th quarter worth about $201,000. 64.10% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on SCG. Zacks Investment Research downgraded SCANA from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 2nd. ValuEngine downgraded SCANA from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Mizuho reaffirmed a “hold” rating and set a $46.50 target price on shares of SCANA in a report on Thursday, January 11th. Guggenheim raised SCANA from a “sell” rating to a “neutral” rating in a report on Thursday, November 16th. They noted that the move was a valuation call. Finally, UBS Group started coverage on SCANA in a research note on Friday, February 2nd. They issued a “sell” rating and a $38.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. SCANA has a consensus rating of “Hold” and a consensus price target of $52.06.
SCANA (NYSE:SCG) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. SCANA had a positive return on equity of 10.61% and a negative net margin of 2.70%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 EPS. sell-side analysts predict that SCANA Co. will post 3.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Monday, March 12th will be paid a $0.6125 dividend. This represents a $2.45 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date is Friday, March 9th. SCANA’s dividend payout ratio is -295.18%.
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SCANA Company Profile
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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