Public Sector Pension investment Board Sells 16,800 Shares of Scana Corporation (SCG)
Public Sector Pension investment Board cut its holdings in Scana Corporation (NYSE:SCG) by 51.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,658 shares of the utilities provider’s stock after selling 16,800 shares during the period. Public Sector Pension investment Board’s holdings in Scana Corporation were worth $1,049,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in SCG. Jolley Asset Management LLC grew its stake in Scana Corporation by 25.1% in the 2nd quarter. Jolley Asset Management LLC now owns 1,995 shares of the utilities provider’s stock valued at $134,000 after acquiring an additional 400 shares during the last quarter. Parallel Advisors LLC increased its holdings in Scana Corporation by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,235 shares of the utilities provider’s stock valued at $145,000 after acquiring an additional 13 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Scana Corporation by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 2,438 shares of the utilities provider’s stock valued at $159,000 after acquiring an additional 77 shares in the last quarter. Fiduciary Trust Co. purchased a new position in Scana Corporation during the 2nd quarter valued at about $164,000. Finally, Bridgeworth LLC purchased a new position in Scana Corporation during the 1st quarter valued at about $210,000. Institutional investors and hedge funds own 66.66% of the company’s stock.
Scana Corporation (NYSE:SCG) opened at 48.49 on Monday. The stock has a 50 day moving average of $61.10 and a 200-day moving average of $65.28. Scana Corporation has a 52-week low of $48.32 and a 52-week high of $74.99. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 11.44 and a beta of 0.23.
Scana Corporation (NYSE:SCG) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The firm 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 business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 EPS. On average, analysts expect that Scana Corporation will post $4.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Monday, September 11th were given a $0.6125 dividend. This represents a $2.45 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend was Friday, September 8th. Scana Corporation’s dividend payout ratio is 57.92%.
SCG has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Scana Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) raised shares of Scana Corporation from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $66.00 to $64.00 in a research note 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 for the company in a research note on Monday, August 28th. Williams Capital cut their price objective on Scana Corporation from $70.00 to $50.00 and set a “hold” rating for the company in a research report on Wednesday, September 27th. Finally, BidaskClub upgraded Scana Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $68.06.
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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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