FMR LLC reduced its stake in shares of Scana Corporation (NYSE:SCG) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 905,057 shares of the utilities provider’s stock after selling 73,538 shares during the period. FMR LLC owned approximately 0.63% of Scana Corporation worth $59,145,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in SCG. Focused Wealth Management Inc raised its stake in shares of Scana Corporation by 0.4% in the first quarter. Focused Wealth Management Inc now owns 3,182 shares of the utilities provider’s stock valued at $208,000 after buying an additional 12 shares in the last quarter. Jolley Asset Management LLC raised its stake in shares of Scana Corporation by 3.2% in the first quarter. Jolley Asset Management LLC now owns 1,595 shares of the utilities provider’s stock valued at $104,000 after buying an additional 50 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Scana Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 2,438 shares of the utilities provider’s stock valued at $159,000 after buying an additional 77 shares in the last quarter. CENTRAL TRUST Co raised its stake in shares of Scana Corporation by 5.5% in the first quarter. CENTRAL TRUST Co now owns 1,534 shares of the utilities provider’s stock valued at $100,000 after buying an additional 80 shares in the last quarter. Finally, Advisor Partners LLC raised its stake in shares of Scana Corporation by 4.4% in the first quarter. Advisor Partners LLC now owns 3,386 shares of the utilities provider’s stock valued at $221,000 after buying an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 67.94% of the company’s stock.
Shares of Scana Corporation (NYSE SCG) traded down 6.63% during midday trading on Friday, hitting $61.29. The stock had a trading volume of 2,473,753 shares. The firm has a 50-day moving average price of $66.78 and a 200-day moving average price of $67.45. Scana Corporation has a 1-year low of $61.06 and a 1-year high of $75.92. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 14.86 and a beta of 0.26.
Scana Corporation (NYSE:SCG) last posted its quarterly earnings data on Thursday, April 27th. The utilities provider reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by $0.18. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.26 billion. Scana Corporation had a return on equity of 10.35% and a net margin of 13.93%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 earnings per share. On average, equities analysts anticipate that Scana Corporation will post $4.19 EPS for the current fiscal year.
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Several brokerages have commented on SCG. Guggenheim lowered Scana Corporation from a “buy” rating to a “sell” rating in a research note on Friday. Gabelli lowered Scana Corporation from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub raised Scana Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Goldman Sachs Group, Inc. (The) raised Scana Corporation from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $66.00 to $64.00 in a research report on Thursday, July 20th. Finally, Zacks Investment Research downgraded Scana Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $71.13.
In other news, VP Martin K. Phalen sold 42,023 shares of Scana Corporation stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $65.49, for a total value of $2,752,086.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.
About Scana Corporation
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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