Fjarde AP Fonden Fourth Swedish National Pension Fund Has $925,000 Position in Scana Corporation (SCG)
Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in Scana Corporation (NYSE:SCG) by 32.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,074 shares of the utilities provider’s stock after selling 9,367 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Scana Corporation were worth $925,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Scana Corporation by 2.3% during the second quarter. Vanguard Group Inc. now owns 13,887,779 shares of the utilities provider’s stock worth $930,620,000 after acquiring an additional 316,210 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Scana Corporation by 67.6% during the third quarter. Bank of New York Mellon Corp now owns 2,170,207 shares of the utilities provider’s stock worth $105,234,000 after acquiring an additional 875,095 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Scana Corporation by 27.7% during the second quarter. Artisan Partners Limited Partnership now owns 1,794,850 shares of the utilities provider’s stock worth $120,273,000 after acquiring an additional 389,431 shares in the last quarter. First Trust Advisors LP raised its stake in Scana Corporation by 1.5% during the third quarter. First Trust Advisors LP now owns 1,675,617 shares of the utilities provider’s stock worth $81,251,000 after acquiring an additional 24,156 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Scana Corporation by 6,220.2% during the second quarter. Janus Henderson Group PLC now owns 1,250,396 shares of the utilities provider’s stock worth $83,789,000 after acquiring an additional 1,230,612 shares in the last quarter. 68.73% of the stock is owned by institutional investors and hedge funds.
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Scana Corporation (NYSE SCG) traded up $0.09 during trading hours on Friday, hitting $43.49. The stock had a trading volume of 1,239,800 shares, compared to its average volume of 1,363,901. The company has a market capitalization of $6,202.38, a PE ratio of 10.69, a P/E/G ratio of 2.98 and a beta of 0.21. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.77 and a current ratio of 0.88. Scana Corporation has a 52 week low of $41.15 and a 52 week high of $74.99.
Scana Corporation (NYSE:SCG) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.01). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.17 billion. Scana Corporation had a return on equity of 10.05% and a net margin of 10.45%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.32 earnings per share. equities analysts forecast that Scana Corporation will post 4.17 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Tuesday, December 12th will be issued a dividend of $0.6125 per share. This represents a $2.45 annualized dividend and a dividend yield of 5.63%. The ex-dividend date of this dividend is Monday, December 11th. Scana Corporation’s dividend payout ratio (DPR) is currently 77.78%.
Several brokerages have commented on SCG. Morgan Stanley boosted their target price on Scana Corporation from $58.00 to $59.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Mizuho reissued an “underperform” rating and set a $59.50 target price (up previously from $57.00) on shares of Scana Corporation in a research note on Tuesday, August 1st. Guggenheim raised Scana Corporation from a “sell” rating to a “neutral” rating in a research note on Thursday, November 16th. They noted that the move was a valuation call. Barclays PLC raised Scana Corporation from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $65.00 to $73.00 in a research note on Tuesday, August 1st. Finally, Gabelli downgraded Scana Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $61.44.
Scana Corporation Company 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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