South State Corp trimmed its position in shares of Scana Corporation (NYSE:SCG) by 9.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,241 shares of the utilities provider’s stock after selling 1,580 shares during the quarter. South State Corp’s holdings in Scana Corporation were worth $1,021,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of SCG. BlackRock Inc. raised its position in shares of Scana Corporation by 3,558.5% during the first 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 acquired a new position in shares of Scana Corporation during the first quarter worth approximately $91,844,000. LSV Asset Management raised its position in shares of Scana Corporation by 833.9% during the second quarter. LSV Asset Management now owns 1,241,196 shares of the utilities provider’s stock worth $83,172,000 after purchasing an additional 1,108,296 shares during the period. First Trust Advisors LP raised its position in shares of Scana Corporation by 106.6% during the second 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 position in shares of Scana Corporation by 127.7% during the first 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. 66.70% of the stock is currently owned by institutional investors.
Shares of Scana Corporation (NYSE:SCG) traded down 0.60% on Tuesday, reaching $59.27. The company’s stock had a trading volume of 182,113 shares. The stock has a 50-day moving average of $62.06 and a 200 day moving average of $65.77. The company has a market cap of $8.47 billion, a price-to-earnings ratio of 13.99 and a beta of 0.27. Scana Corporation has a 52-week low of $58.55 and a 52-week high of $75.92.
Scana Corporation (NYSE:SCG) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 analyst estimates of $931.67 million. During the same quarter in the previous year, the company posted $0.74 earnings per share. Scana Corporation’s revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts forecast that Scana Corporation will post $4.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Monday, September 11th will be issued a dividend of $0.6125 per share. This represents a $2.45 annualized dividend and a yield of 4.11%. The ex-dividend date is Friday, September 8th. Scana Corporation’s dividend payout ratio is presently 57.92%.
A number of equities analysts have recently weighed in on the company. BidaskClub raised Scana Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Mizuho reiterated an “underperform” rating and set a $63.00 price target on shares of Scana Corporation in a report on Friday, July 7th. Guggenheim downgraded Scana Corporation from a “buy” rating to a “sell” rating in a report on Friday, July 28th. Gabelli downgraded Scana Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Goldman Sachs Group, Inc. (The) upgraded Scana Corporation from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $66.00 to $64.00 in a report on Thursday, July 20th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Scana Corporation currently has an average rating of “Hold” and an average target price of $70.31.
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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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