Camden National Bank grew its position in shares of Scana Corporation (NYSE:SCG) by 2.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 57,063 shares of the utilities provider’s stock after acquiring an additional 1,318 shares during the period. Camden National Bank’s holdings in Scana Corporation were worth $2,767,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Scana Corporation by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 13,887,779 shares of the utilities provider’s stock worth $930,620,000 after acquiring an additional 316,210 shares during the period. Thompson Siegel & Walmsley LLC grew its holdings in shares of Scana Corporation by 139.2% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,682,139 shares of the utilities provider’s stock worth $130,057,000 after acquiring an additional 1,560,863 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Scana Corporation by 67.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,170,207 shares of the utilities provider’s stock worth $105,234,000 after acquiring an additional 875,095 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Scana Corporation by 27.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,794,850 shares of the utilities provider’s stock worth $120,273,000 after acquiring an additional 389,431 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Scana Corporation by 1.5% during the 3rd quarter. First Trust Advisors LP now owns 1,675,617 shares of the utilities provider’s stock worth $81,251,000 after acquiring an additional 24,156 shares during the period. Hedge funds and other institutional investors own 68.73% of the company’s stock.
Shares of Scana Corporation (NYSE:SCG) traded up $0.09 on Thursday, reaching $43.49. The company’s stock had a trading volume of 1,239,800 shares, compared to its average volume of 1,363,901. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 1.12. Scana Corporation has a 1-year low of $41.15 and a 1-year high of $74.99. The stock has a market cap of $6,189.55, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 2.98 and a beta of 0.21.
Scana Corporation (NYSE:SCG) last issued its earnings results on Thursday, October 26th. The utilities provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.01). Scana Corporation had a net margin of 10.45% and a return on equity of 10.05%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the business posted $1.32 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. equities analysts expect that Scana Corporation will post 4.17 earnings per share for the current fiscal year.
The firm also recently announced 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 5.63%. Scana Corporation’s dividend payout ratio is 77.78%.
Several research firms recently weighed in on SCG. Morgan Stanley upped their price target on Scana Corporation from $58.00 to $59.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Mizuho restated an “underperform” rating and issued a $59.50 price target (up previously from $57.00) on shares of Scana Corporation in a research note on Tuesday, August 1st. Guggenheim upgraded Scana Corporation from a “sell” rating to a “neutral” rating in a research note on Thursday, November 16th. They noted that the move was a valuation call. Barclays PLC upgraded Scana Corporation from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $65.00 to $73.00 in a research note on Tuesday, August 1st. Finally, Edward Jones upgraded Scana Corporation from a “hold” rating to a “buy” rating in a research note on Monday, November 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $61.44.
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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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