Legal & General Group Plc Has $54.20 Million Position in SCANA Co. (SCG)
Legal & General Group Plc lifted its position in SCANA Co. (NYSE:SCG) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,117,658 shares of the utilities provider’s stock after purchasing an additional 59,907 shares during the quarter. Legal & General Group Plc owned about 0.78% of SCANA worth $54,199,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Sigma Planning Corp grew its holdings in shares of SCANA by 0.3% in the second quarter. Sigma Planning Corp now owns 3,266 shares of the utilities provider’s stock valued at $219,000 after purchasing an additional 10 shares during the period. Polaris Greystone Financial Group LLC grew its holdings in shares of SCANA by 0.8% in the second quarter. Polaris Greystone Financial Group LLC now owns 4,665 shares of the utilities provider’s stock valued at $313,000 after purchasing an additional 35 shares during the period. CIBC Asset Management Inc grew its holdings in shares of SCANA by 0.3% in the second quarter. CIBC Asset Management Inc now owns 13,836 shares of the utilities provider’s stock valued at $927,000 after purchasing an additional 44 shares during the period. Shell Asset Management Co. grew its holdings in shares of SCANA by 0.4% in the second quarter. Shell Asset Management Co. now owns 12,668 shares of the utilities provider’s stock valued at $849,000 after purchasing an additional 53 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in shares of SCANA by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the utilities provider’s stock valued at $596,000 after purchasing an additional 100 shares during the period. 66.78% of the stock is owned by hedge funds and other institutional investors.
Shares of SCANA Co. (NYSE:SCG) traded down $0.83 during mid-day trading on Wednesday, reaching $43.50. 2,111,000 shares of the company’s stock traded hands, compared to its average volume of 1,393,543. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $6,322.18, a price-to-earnings ratio of 10.89, a PEG ratio of 3.04 and a beta of 0.20. SCANA Co. has a one year low of $41.15 and a one year high of $74.99.
SCANA (NYSE:SCG) last announced its 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 company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. SCANA had a return on equity of 10.05% and a net margin of 10.45%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business earned $1.32 EPS. sell-side analysts anticipate that SCANA Co. will post 4.17 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Tuesday, December 12th will be paid a dividend of $0.6125 per share. This represents a $2.45 annualized dividend and a yield of 5.63%. The ex-dividend date is Monday, December 11th. SCANA’s dividend payout ratio (DPR) is presently 77.78%.
SCG has been the subject of a number of analyst reports. Edward Jones raised shares of SCANA from a “hold” rating to a “buy” rating in a report on Monday, November 13th. Mizuho raised shares of SCANA from an “underperform” rating to a “neutral” rating and set a $58.50 price objective for the company in a report on Monday, August 28th. Zacks Investment Research raised shares of SCANA from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Morgan Stanley increased their target price on shares of SCANA from $58.00 to $59.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Finally, Bank of America started coverage on shares of SCANA in a research note on Tuesday, October 24th. They set a “neutral” rating and a $49.00 target price for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $61.44.
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SCANA 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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