Reaves W H & Co. Inc. trimmed its stake in Scana Corporation (NYSE:SCG) by 20.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 770,036 shares of the utilities provider’s stock after selling 202,978 shares during the period. Reaves W H & Co. Inc. owned 0.54% of Scana Corporation worth $37,340,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in SCG. WFG Advisors LP grew its stake in Scana Corporation by 60.6% during the 2nd quarter. WFG Advisors LP now owns 1,747 shares of the utilities provider’s stock worth $117,000 after buying an additional 659 shares during the last quarter. Fiduciary Trust Co. purchased a new position in Scana Corporation during the 2nd quarter worth $164,000. Pacer Advisors Inc. grew its stake in Scana Corporation by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,641 shares of the utilities provider’s stock worth $177,000 after buying an additional 203 shares during the last quarter. BB&T Investment Services Inc. purchased a new position in Scana Corporation during the 2nd quarter worth $195,000. Finally, Gofen & Glossberg LLC IL purchased a new position in Scana Corporation during the 2nd quarter worth $201,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.
Scana Corporation (NYSE SCG) traded up $0.61 during trading on Friday, reaching $45.00. The company’s stock had a trading volume of 5,329,800 shares, compared to its average volume of 1,351,383. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 1.12. The stock has a market cap of $6,430.00, a P/E ratio of 10.91, a PEG ratio of 3.04 and a beta of 0.21. Scana Corporation has a twelve month low of $41.15 and a twelve month high of $74.99.
Scana Corporation (NYSE:SCG) last posted its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.01). The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Scana Corporation had a net margin of 10.45% and a return on equity of 10.05%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 EPS. analysts expect that Scana Corporation will post 4.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Tuesday, December 12th will be paid a dividend of $0.6125 per share. The ex-dividend date of this dividend is Monday, December 11th. This represents a $2.45 annualized dividend and a yield of 5.44%. Scana Corporation’s payout ratio is presently 77.53%.
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Several research analysts recently weighed in on the company. Mizuho restated an “underperform” rating and set a $59.50 target price (up from $57.00) on shares of Scana Corporation in a research note on Tuesday, August 1st. Morgan Stanley restated an “underweight” rating and set a $45.00 target price on shares of Scana Corporation in a research note on Wednesday, October 4th. Edward Jones upgraded Scana Corporation from a “hold” rating to a “buy” rating in a research note on Monday. Guggenheim upgraded Scana Corporation from a “sell” rating to a “neutral” rating in a research note on Thursday. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Scana Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $61.44.
Scana Corporation 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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