BT Investment Management Ltd purchased a new stake in shares of Scana Corporation (NYSE:SCG) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 39,689 shares of the utilities provider’s stock, valued at approximately $2,660,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank grew its position in shares of Scana Corporation by 60.1% during the 2nd quarter. Amalgamated Bank now owns 14,963 shares of the utilities provider’s stock valued at $1,003,000 after purchasing an additional 5,615 shares in the last quarter. Captrust Financial Advisors purchased a new position in shares of Scana Corporation during the 2nd quarter valued at $496,000. Ameriprise Financial Inc. grew its position in shares of Scana Corporation by 5.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 91,602 shares of the utilities provider’s stock valued at $6,150,000 after purchasing an additional 4,416 shares in the last quarter. Icon Advisers Inc. Co. grew its position in shares of Scana Corporation by 21.7% during the 2nd quarter. Icon Advisers Inc. Co. now owns 34,800 shares of the utilities provider’s stock valued at $2,332,000 after purchasing an additional 6,200 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in shares of Scana Corporation by 2.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 301,099 shares of the utilities provider’s stock valued at $20,177,000 after purchasing an additional 6,359 shares in the last quarter. Hedge funds and other institutional investors own 66.66% of the company’s stock.
A number of research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Scana Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Mizuho reaffirmed an “underperform” rating and set a $59.50 price objective (up from $57.00) on shares of Scana Corporation in a report on Tuesday, August 1st. Barclays PLC raised shares of Scana Corporation from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $65.00 to $73.00 in a report on Tuesday, August 1st. Guggenheim downgraded shares of Scana Corporation from a “buy” rating to a “sell” rating in a report on Friday, July 28th. Finally, Morgan Stanley lifted their price objective on shares of Scana Corporation from $58.00 to $59.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $70.28.
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Shares of Scana Corporation (SCG) opened at 59.84 on Monday. The company has a market capitalization of $8.55 billion, a P/E ratio of 14.12 and a beta of 0.27. Scana Corporation has a 1-year low of $58.55 and a 1-year high of $75.92. The firm has a 50-day moving average of $61.35 and a 200 day moving average of $65.50.
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 analysts’ consensus estimates of $0.74 by $0.11. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $931.67 million. During the same period last year, the company posted $0.74 EPS. The business’s revenue was up 10.6% on a year-over-year basis. On average, analysts anticipate that Scana Corporation will post $4.19 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Monday, September 11th will be paid a $0.6125 dividend. The ex-dividend date is Friday, September 8th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.09%. Scana Corporation’s payout ratio is currently 57.92%.
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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