DNB Asset Management AS Acquires 2,000 Shares of SCANA Co. (SCG)

DNB Asset Management AS grew its position in shares of SCANA Co. (NYSE:SCG) by 13.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,199 shares of the utilities provider’s stock after buying an additional 2,000 shares during the quarter. DNB Asset Management AS’s holdings in SCANA were worth $669,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. People s United Financial Inc. bought a new stake in SCANA during the second quarter worth about $13,802,000. Pinebridge Investments L.P. grew its stake in SCANA by 258.2% during the second quarter. Pinebridge Investments L.P. now owns 3,457 shares of the utilities provider’s stock worth $134,000 after buying an additional 2,492 shares during the last quarter. Whittier Trust Co. grew its stake in SCANA by 53.4% during the second quarter. Whittier Trust Co. now owns 3,835 shares of the utilities provider’s stock worth $206,000 after buying an additional 1,335 shares during the last quarter. NEXT Financial Group Inc bought a new stake in shares of SCANA during the third quarter valued at approximately $168,000. Finally, Cerebellum GP LLC bought a new stake in shares of SCANA during the third quarter valued at approximately $197,000. 69.82% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently commented on the stock. Mizuho cut shares of SCANA from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 7th. ValuEngine raised shares of SCANA from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research raised shares of SCANA from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. UBS Group decreased their price target on shares of SCANA from $36.00 to $35.00 and set a “sell” rating on the stock in a research note on Friday, August 10th. Finally, Wolfe Research reissued an “outperform” rating on shares of SCANA in a research note on Thursday, September 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $40.08.

SCG opened at $40.89 on Friday. SCANA Co. has a one year low of $33.61 and a one year high of $49.40. The company has a current ratio of 0.76, a quick ratio of 0.61 and a debt-to-equity ratio of 1.14. The company has a market cap of $5.72 billion, a PE ratio of 9.74, a P/E/G ratio of 3.55 and a beta of 0.12.

SCANA (NYSE:SCG) last released its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.08. SCANA had a negative net margin of 5.50% and a positive return on equity of 10.57%. The business had revenue of $843.00 million for the quarter, compared to analysts’ expectations of $858.45 million. During the same period in the prior year, the firm earned $0.85 earnings per share. SCANA’s revenue was down 15.8% compared to the same quarter last year. As a group, equities analysts anticipate that SCANA Co. will post 3.23 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Monday, September 10th were issued a $0.1237 dividend. The ex-dividend date was Friday, September 7th. This represents a $0.49 annualized dividend and a yield of 1.21%. SCANA’s dividend payout ratio is currently 11.67%.

SCANA Company Profile

SCANA Corporation, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity to retail and wholesale customers in the United States. The company owns nuclear, coal, hydro, natural gas, oil, biomass, and solar generating facilities. It also purchases, sells, and transports natural gas; and offers energy-related services.

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Institutional Ownership by Quarter for SCANA (NYSE:SCG)

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