SCANA Co. (NYSE:SCG)’s share price shot up 0% on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $40.10 and last traded at $39.93. 2,590,000 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 2,470,000 shares. The stock had previously closed at $39.93.
The utilities provider reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. SCANA had a net margin of 10.45% and a return on equity of 10.05%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Monday, March 12th will be paid a $0.6125 dividend. This represents a $2.45 annualized dividend and a dividend yield of 6.14%. SCANA’s dividend payout ratio (DPR) is 77.53%.
Several institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its position in shares of SCANA by 38.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 11,926 shares of the utilities provider’s stock worth $474,000 after purchasing an additional 3,312 shares during the last quarter. OLD Republic International Corp lifted its position in shares of SCANA by 139.8% during the 4th quarter. OLD Republic International Corp now owns 790,800 shares of the utilities provider’s stock worth $31,458,000 after purchasing an additional 461,000 shares during the last quarter. Sawtooth Solutions LLC purchased a new stake in shares of SCANA during the 4th quarter worth $938,000. Sterling Capital Management LLC purchased a new stake in shares of SCANA during the 4th quarter worth $775,000. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of SCANA during the 4th quarter worth $1,755,000. 64.10% of the stock is owned by institutional investors and hedge funds.
The firm has a market cap of $5,690.00, a PE ratio of 12.64, a PEG ratio of 3.42 and a beta of 0.20. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 1.12.
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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