Scana Corporation (SCG) Sets New 12-Month Low at $48.15
Scana Corporation (NYSE:SCG)’s share price reached a new 52-week low on Tuesday . The company traded as low as $48.15 and last traded at $48.21, with a volume of 1,253,771 shares. The stock had previously closed at $48.58.
SCG has been the topic of several recent analyst reports. Williams Capital downgraded shares of Scana Corporation from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research upgraded shares of Scana Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Mizuho raised shares of Scana Corporation from an “underperform” rating to a “neutral” rating and set a $58.50 target price for the company in a research note on Monday, August 28th. Morgan Stanley boosted their target price on shares of Scana Corporation from $58.00 to $59.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Finally, Barclays PLC upgraded shares of Scana Corporation from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $65.00 to $73.00 in a research report on Tuesday, August 1st. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $68.06.
The stock has a 50 day moving average of $58.39 and a 200 day moving average of $64.32. The firm has a market cap of $6.94 billion, a P/E ratio of 11.46 and a beta of 0.23.
Scana Corporation (NYSE:SCG) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $931.67 million. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. During the same quarter in the previous year, the business posted $0.74 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts forecast that Scana Corporation will post $4.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Monday, September 11th were given a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date was Friday, September 8th. Scana Corporation’s dividend payout ratio is presently 57.92%.
Several institutional investors have recently added to or reduced their stakes in the business. WFG Advisors LP grew its holdings in shares of Scana Corporation by 60.6% during the second quarter. WFG Advisors LP now owns 1,747 shares of the utilities provider’s stock worth $117,000 after buying an additional 659 shares in the last quarter. Jolley Asset Management LLC raised its position in shares of Scana Corporation by 25.1% in the second quarter. Jolley Asset Management LLC now owns 1,995 shares of the utilities provider’s stock valued at $134,000 after buying an additional 400 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Scana Corporation by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,235 shares of the utilities provider’s stock valued at $145,000 after buying an additional 13 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Scana Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 2,438 shares of the utilities provider’s stock valued at $159,000 after buying an additional 77 shares during the last quarter. Finally, Fiduciary Trust Co. acquired a new position in shares of Scana Corporation in the second quarter valued at approximately $164,000. 66.66% of the stock is currently owned by institutional investors.
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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