QS Investors LLC Purchases 29,981 Shares of Scana Corporation (SCG)
QS Investors LLC lifted its position in shares of Scana Corporation (NYSE:SCG) by 229.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,066 shares of the utilities provider’s stock after acquiring an additional 29,981 shares during the quarter. QS Investors LLC’s holdings in Scana Corporation were worth $2,886,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCG. BlackRock Inc. boosted its holdings in shares of Scana Corporation by 3,558.5% during the 1st quarter. BlackRock Inc. now owns 12,263,023 shares of the utilities provider’s stock valued at $801,389,000 after acquiring an additional 11,927,826 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Scana Corporation by 833.9% during the 2nd quarter. LSV Asset Management now owns 1,241,196 shares of the utilities provider’s stock valued at $83,172,000 after acquiring an additional 1,108,296 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Scana Corporation by 1,365.8% during the 2nd quarter. Nordea Investment Management AB now owns 1,100,102 shares of the utilities provider’s stock valued at $73,718,000 after acquiring an additional 1,025,052 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Scana Corporation by 106.6% during the 2nd quarter. First Trust Advisors LP now owns 1,651,461 shares of the utilities provider’s stock valued at $110,664,000 after acquiring an additional 852,243 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Scana Corporation by 127.7% during the 1st quarter. Morgan Stanley now owns 1,473,057 shares of the utilities provider’s stock valued at $96,264,000 after acquiring an additional 826,008 shares in the last quarter. 66.66% of the stock is currently owned by institutional investors.
Scana Corporation (NYSE SCG) opened at 48.43 on Friday. Scana Corporation has a one year low of $47.80 and a one year high of $74.99. The firm has a market capitalization of $6.92 billion, a P/E ratio of 11.43 and a beta of 0.23. The firm’s 50-day moving average price is $57.24 and its 200 day moving average price is $63.95.
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, beating the Zacks’ consensus estimate of $0.74 by $0.11. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $931.67 million. During the same period last year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that Scana Corporation will post $4.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Monday, September 11th were paid a dividend of $0.6125 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 5.06%. Scana Corporation’s dividend payout ratio (DPR) is currently 57.92%.
Several equities research analysts recently weighed in on the company. Morgan Stanley reissued an “underweight” rating and set a $45.00 price objective on shares of Scana Corporation in a report on Wednesday. Williams Capital downgraded Scana Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 29th. Zacks Investment Research raised Scana Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Mizuho raised Scana Corporation from an “underperform” rating to a “neutral” rating and set a $58.50 price objective on the stock in a report on Monday, August 28th. Finally, Barclays PLC raised Scana Corporation from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $65.00 to $73.00 in a report on Tuesday, August 1st. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $65.06.
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About Scana Corporation
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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