The Manufacturers Life Insurance Company lowered its position in shares of Scana Corporation (NYSE:SCG) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 162,660 shares of the utilities provider’s stock after selling 6,954 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.11% of Scana Corporation worth $10,899,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jolley Asset Management LLC boosted its position in Scana Corporation by 25.1% during the second quarter. Jolley Asset Management LLC now owns 1,995 shares of the utilities provider’s stock worth $134,000 after acquiring an additional 400 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in Scana Corporation during the second quarter worth approximately $164,000. Pacer Advisors Inc. boosted its position in Scana Corporation by 8.3% during the second quarter. Pacer Advisors Inc. now owns 2,641 shares of the utilities provider’s stock worth $177,000 after acquiring an additional 203 shares during the last quarter. Sigma Planning Corp boosted its position in Scana Corporation by 0.3% during the second quarter. Sigma Planning Corp now owns 3,266 shares of the utilities provider’s stock worth $219,000 after acquiring an additional 10 shares during the last quarter. Finally, Pennsylvania Trust Co acquired a new stake in Scana Corporation during the second quarter worth approximately $220,000. Hedge funds and other institutional investors own 66.63% of the company’s stock.
Scana Corporation (NYSE:SCG) opened at 49.04 on Friday. The firm has a 50 day moving average of $53.72 and a 200-day moving average of $62.58. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 11.57 and a beta of 0.23. Scana Corporation has a one year low of $47.80 and a one year high of $74.99.
Scana Corporation (NYSE:SCG) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.11. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $931.67 million. During the same period in the previous year, the firm posted $0.74 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. Equities research analysts forecast that Scana Corporation will post $4.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Monday, September 11th were given a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend was Friday, September 8th. Scana Corporation’s payout ratio is presently 57.92%.
A number of brokerages recently issued reports on SCG. Zacks Investment Research lowered shares of Scana Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Mizuho restated an “underperform” rating and set a $59.50 target price (up previously from $57.00) on shares of Scana Corporation in a research report 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 report on Wednesday, October 4th. Barclays PLC upgraded shares of Scana Corporation from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $65.00 to $73.00 in a research report on Tuesday, August 1st. Finally, Guggenheim lowered shares of Scana Corporation from a “buy” rating to a “sell” rating in a research report on Friday, July 28th. Four analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $65.06.
Scana Corporation 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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