AHL Partners LLP acquired a new position in Scana Corporation (NYSE:SCG) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 31,293 shares of the utilities provider’s stock, valued at approximately $2,097,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Scana Corporation by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 13,887,779 shares of the utilities provider’s stock worth $930,620,000 after purchasing an additional 316,210 shares during the period. BlackRock Inc. raised its holdings in shares of Scana Corporation by 3,558.5% in the 1st quarter. BlackRock Inc. now owns 12,263,023 shares of the utilities provider’s stock worth $801,389,000 after purchasing an additional 11,927,826 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of Scana Corporation by 27.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,794,850 shares of the utilities provider’s stock worth $120,273,000 after purchasing an additional 389,431 shares during the period. First Trust Advisors LP raised its holdings in shares of Scana Corporation by 106.6% in the 2nd quarter. First Trust Advisors LP now owns 1,651,461 shares of the utilities provider’s stock worth $110,664,000 after purchasing an additional 852,243 shares during the period. Finally, Morgan Stanley raised its holdings in shares of Scana Corporation by 127.7% in the 1st quarter. Morgan Stanley now owns 1,473,057 shares of the utilities provider’s stock worth $96,264,000 after purchasing an additional 826,008 shares during the period. Institutional investors own 66.66% of the company’s stock.
SCG has been the topic of a number of research reports. Morgan Stanley cut their price objective on Scana Corporation from $70.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, July 11th. Williams Capital cut their price objective on Scana Corporation from $70.00 to $50.00 and set a “hold” rating on the stock in a report on Wednesday, September 27th. BidaskClub downgraded Scana Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) upgraded Scana Corporation from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $66.00 to $64.00 in a report on Thursday, July 20th. Finally, Mizuho restated an “underperform” rating and issued a $63.00 price objective on shares of Scana Corporation in a report on Friday, July 7th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $65.06.
Shares of Scana Corporation (NYSE SCG) opened at 49.60 on Friday. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 11.71 and a beta of 0.23. The stock has a 50 day moving average price of $55.61 and a 200-day moving average price of $63.30. Scana Corporation has a 1-year low of $47.80 and a 1-year high of $74.99.
Scana Corporation (NYSE:SCG) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $931.67 million. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts expect that Scana Corporation will post $4.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Monday, September 11th were given a $0.6125 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.94%. Scana Corporation’s dividend payout ratio is currently 57.92%.
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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