Prudential Financial Inc. Acquires 676,055 Shares of Scana Corporation (SCG)
Prudential Financial Inc. grew its holdings in shares of Scana Corporation (NYSE:SCG) by 183.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,044,106 shares of the utilities provider’s stock after buying an additional 676,055 shares during the quarter. Prudential Financial Inc. owned 0.73% of Scana Corporation worth $50,629,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank raised its position in Scana Corporation by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 48,327 shares of the utilities provider’s stock worth $3,238,000 after purchasing an additional 9,840 shares during the period. Federated Investors Inc. PA raised its position in Scana Corporation by 264,341.0% in the 2nd quarter. Federated Investors Inc. PA now owns 161,309 shares of the utilities provider’s stock worth $10,809,000 after purchasing an additional 161,248 shares during the period. Aberdeen Asset Management PLC UK raised its position in Scana Corporation by 23.2% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 48,016 shares of the utilities provider’s stock worth $3,218,000 after purchasing an additional 9,028 shares during the period. Tandem Investment Advisors Inc. raised its position in Scana Corporation by 4.8% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 70,569 shares of the utilities provider’s stock worth $4,729,000 after purchasing an additional 3,222 shares during the period. Finally, American Century Companies Inc. raised its position in Scana Corporation by 22.6% in the 2nd quarter. American Century Companies Inc. now owns 234,866 shares of the utilities provider’s stock worth $15,738,000 after purchasing an additional 43,225 shares during the period. Hedge funds and other institutional investors own 67.02% of the company’s stock.
Scana Corporation (NYSE SCG) opened at $43.94 on Friday. The company has a market cap of $6,360.69, a P/E ratio of 10.96, a PEG ratio of 3.04 and a beta of 0.21. Scana Corporation has a 1 year low of $41.15 and a 1 year high of $74.99. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.41 and a current ratio of 0.88.
Scana Corporation (NYSE:SCG) last issued its earnings results on Thursday, October 26th. The utilities provider reported $1.16 EPS for the quarter, missing the Zacks’ 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 Corporation had a return on equity of 10.05% and a net margin of 10.45%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business posted $1.32 earnings per share. research analysts anticipate that Scana Corporation will post 4.19 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Tuesday, December 12th will be given a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend is Monday, December 11th. Scana Corporation’s dividend payout ratio (DPR) is presently 77.78%.
SCG has been the topic of a number of recent analyst reports. Bank of America Corporation initiated coverage on shares of Scana Corporation in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $49.00 price objective on the stock. Goldman Sachs Group, Inc. (The) raised shares of Scana Corporation from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $66.00 to $64.00 in a research report on Thursday, July 20th. Mizuho raised shares of Scana Corporation from an “underperform” rating to a “neutral” rating and set a $58.50 price objective on the stock in a research report on Monday, August 28th. Zacks Investment Research raised shares of Scana Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, Williams Capital reduced their price objective on shares of Scana Corporation from $70.00 to $50.00 and set a “hold” rating on the stock in a research report on Wednesday, September 27th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target 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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