JPMorgan Chase & Co. Acquires 17,754 Shares of Scana Corp. (SCG)
JPMorgan Chase & Co. boosted its position in Scana Corp. (NYSE:SCG) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 432,215 shares of the company’s stock after buying an additional 17,754 shares during the period. JPMorgan Chase & Co. owned 0.30% of Scana Corp. worth $32,703,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in SCG. Cribstone Capital Management LLC bought a new stake in Scana Corp. during the second quarter valued at $102,000. Schaper Benz & Wise Investment Counsel Inc. WI bought a new stake in Scana Corp. during the second quarter valued at $209,000. Financial Architects Inc increased its stake in Scana Corp. by 438.8% in the second quarter. Financial Architects Inc now owns 2,850 shares of the company’s stock valued at $215,000 after buying an additional 2,321 shares during the period. Pennsylvania Trust Co increased its stake in Scana Corp. by 1.4% in the second quarter. Pennsylvania Trust Co now owns 2,924 shares of the company’s stock valued at $221,000 after buying an additional 40 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Scana Corp. by 2.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,449 shares of the company’s stock valued at $235,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 64.97% of the company’s stock.
Shares of Scana Corp. (NYSE:SCG) traded up 0.855% during trading on Monday, reaching $72.535. 525,182 shares of the company’s stock traded hands. The stock has a 50-day moving average of $72.43 and a 200-day moving average of $70.71. Scana Corp. has a 1-year low of $51.79 and a 1-year high of $76.41. The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of 19.636 and a beta of 0.22.
Scana Corp. (NYSE:SCG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $905 million for the quarter, compared to the consensus estimate of $986.95 million. Scana Corp. had a net margin of 12.88% and a return on equity of 9.82%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 earnings per share. On average, equities analysts predict that Scana Corp. will post $3.97 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Monday, September 12th will be paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Thursday, September 8th. Scana Corp.’s payout ratio is 62.16%.
SCG has been the subject of several research reports. Zacks Investment Research upgraded shares of Scana Corp. from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a report on Tuesday, August 16th. Williams Capital reiterated a “buy” rating on shares of Scana Corp. in a report on Monday, September 12th. Morgan Stanley downgraded shares of Scana Corp. from an “equal weight” rating to an “underweight” rating and set a $67.00 target price for the company. in a report on Wednesday, June 15th. Finally, Mizuho lifted their target price on shares of Scana Corp. from $74.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Scana Corp. currently has an average rating of “Hold” and an average price target of $71.58.
About Scana Corp.
SCANA Corporation is a holding company. The Company, through its subsidiaries, is engaged in generation, transmission, distribution and sale of electricity, and the purchase, sale and transportation of natural gas in North Carolina and South Carolina. It operates through segments, including Electric Operations, Gas Distribution, Retail Gas Marketing, Energy Marketing and All Other.
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