Pensionfund Sabic continued to hold its stake in shares of SCANA Co. (NYSE:SCG) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,000 shares of the utilities provider’s stock at the end of the first quarter. Pensionfund Sabic’s holdings in SCANA were worth $1,372,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of SCG. Macquarie Group Ltd. increased its stake in shares of SCANA by 7.2% in the fourth quarter. Macquarie Group Ltd. now owns 47,600 shares of the utilities provider’s stock valued at $3,488,000 after buying an additional 3,200 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of SCANA during the fourth quarter valued at about $339,000. Kentucky Retirement Systems purchased a new stake in shares of SCANA during the fourth quarter valued at about $760,000. Teachers Advisors LLC increased its stake in shares of SCANA by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 164,723 shares of the utilities provider’s stock valued at $12,071,000 after buying an additional 7,699 shares during the period. Finally, Norges Bank purchased a new stake in shares of SCANA during the fourth quarter valued at about $57,064,000. 65.18% of the stock is owned by institutional investors.
SCANA Co. (NYSE:SCG) traded down 0.50% during trading on Thursday, reaching $66.28. 534,079 shares of the company’s stock were exchanged. SCANA Co. has a 52-week low of $64.20 and a 52-week high of $76.41. The stock’s 50-day moving average price is $67.16 and its 200-day moving average price is $69.84. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 15.93 and a beta of 0.21.
SCANA (NYSE:SCG) last posted its quarterly earnings data on Thursday, February 16th. The utilities provider reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by $0.05. The business earned $1.06 billion during the quarter, compared to analyst estimates of $1.29 billion. SCANA had a return on equity of 10.71% and a net margin of 13.77%. During the same period in the prior year, the firm posted $0.69 EPS. Equities analysts expect that SCANA Co. will post $4.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, April 1st. Shareholders of record on Friday, March 10th were paid a $0.6125 dividend. The ex-dividend date was Wednesday, March 8th. This represents a $2.45 dividend on an annualized basis and a yield of 3.68%. This is a positive change from SCANA’s previous quarterly dividend of $0.58. SCANA’s payout ratio is currently 57.79%.
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A number of research firms have recently weighed in on SCG. Mizuho downgraded shares of SCANA from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $80.00 to $68.00 in a research report on Tuesday, February 14th. Macquarie downgraded shares of SCANA from an “outperform” rating to a “neutral” rating and set a $75.00 price target for the company. in a research report on Tuesday, January 24th. Zacks Investment Research downgraded shares of SCANA from a “buy” rating to a “hold” rating in a research report on Monday, February 20th. Finally, Barclays PLC reissued a “hold” rating and set a $70.00 price target on shares of SCANA in a research report on Sunday, February 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. SCANA presently has a consensus rating of “Hold” and an average price target of $72.67.
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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