Sentry Investment Management LLC grew its stake in Scana Corporation (NYSE:SCG) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,102 shares of the utilities provider’s stock after acquiring an additional 117 shares during the quarter. Sentry Investment Management LLC’s holdings in Scana Corporation were worth $744,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Scana Corporation by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 13,887,779 shares of the utilities provider’s stock valued at $930,620,000 after acquiring an additional 316,210 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Scana Corporation by 27.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,794,850 shares of the utilities provider’s stock valued at $120,273,000 after acquiring an additional 389,431 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Scana Corporation by 106.6% in the 2nd quarter. First Trust Advisors LP now owns 1,651,461 shares of the utilities provider’s stock valued at $110,664,000 after acquiring an additional 852,243 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Scana Corporation by 6,220.2% in the 2nd quarter. Janus Henderson Group PLC now owns 1,250,396 shares of the utilities provider’s stock valued at $83,789,000 after acquiring an additional 1,230,612 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of Scana Corporation by 833.9% in the 2nd quarter. LSV Asset Management now owns 1,241,196 shares of the utilities provider’s stock valued at $83,172,000 after acquiring an additional 1,108,296 shares during the last quarter. 66.63% of the stock is owned by institutional investors.
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A number of research firms recently issued reports on SCG. Morgan Stanley reissued an “underweight” rating and set a $45.00 target price on shares of Scana Corporation in a research note on Wednesday, October 4th. Williams Capital cut Scana Corporation from a “hold” rating to a “sell” rating in a research note on Friday, September 29th. Zacks Investment Research raised Scana Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Mizuho raised Scana Corporation from an “underperform” rating to a “neutral” rating and set a $58.50 target price for the company in a research note on Monday, August 28th. Finally, Barclays PLC raised Scana Corporation from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $65.00 to $73.00 in a research note on Tuesday, August 1st. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $65.06.
Shares of Scana Corporation (NYSE SCG) opened at 49.04 on Friday. The company has a market capitalization of $7.01 billion, a PE ratio of 11.57 and a beta of 0.23. The company’s 50-day moving average price is $53.72 and its 200-day moving average price is $62.58. Scana Corporation has a 1-year low of $47.80 and a 1-year high of $74.99.
Scana Corporation (NYSE:SCG) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $931.67 million. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. On average, equities analysts expect that Scana Corporation will post $4.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Monday, September 11th were issued a dividend of $0.6125 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.45 annualized dividend and a dividend yield of 5.00%. Scana Corporation’s dividend payout ratio is 57.92%.
Scana Corporation 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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