Scana Corporation (SCG) Stake Lessened by Fmr LLC
Fmr LLC trimmed its position in shares of Scana Corporation (NYSE:SCG) by 4.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 865,214 shares of the utilities provider’s stock after selling 39,843 shares during the quarter. Fmr LLC owned 0.61% of Scana Corporation worth $57,978,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Federated Investors Inc. PA increased its stake in shares of Scana Corporation by 264,341.0% during the second quarter. Federated Investors Inc. PA now owns 161,309 shares of the utilities provider’s stock worth $10,809,000 after acquiring an additional 161,248 shares during the period. Aberdeen Asset Management PLC UK increased its stake in shares of Scana Corporation by 23.2% during the second quarter. Aberdeen Asset Management PLC UK now owns 48,016 shares of the utilities provider’s stock worth $3,218,000 after acquiring an additional 9,028 shares during the period. American Century Companies Inc. increased its stake in shares of Scana Corporation by 22.6% during the second quarter. American Century Companies Inc. now owns 234,866 shares of the utilities provider’s stock worth $15,738,000 after acquiring an additional 43,225 shares during the period. BlueCrest Capital Management Ltd increased its stake in shares of Scana Corporation by 331.7% during the first quarter. BlueCrest Capital Management Ltd now owns 18,260 shares of the utilities provider’s stock worth $1,193,000 after acquiring an additional 14,030 shares during the period. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in shares of Scana Corporation during the second quarter worth about $2,767,000. Institutional investors and hedge funds own 66.63% of the company’s stock.
Shares of Scana Corporation (SCG) opened at 49.85 on Monday. The stock has a market cap of $7.12 billion, a P/E ratio of 11.77 and a beta of 0.23. Scana Corporation has a 12-month low of $47.80 and a 12-month high of $74.99. The company’s 50-day moving average is $55.17 and its 200-day moving average is $63.14.
Scana Corporation (NYSE:SCG) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The firm had revenue of $1 billion for 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%. Scana Corporation’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $0.74 EPS. On average, analysts expect that Scana Corporation will post $4.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Monday, September 11th were paid a $0.6125 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.45 annualized dividend and a dividend yield of 4.91%. Scana Corporation’s dividend payout ratio is currently 57.92%.
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SCG has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Scana Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Mizuho reiterated an “underperform” rating and set a $63.00 price target on shares of Scana Corporation in a research note on Friday, July 7th. Morgan Stanley dropped their price target on shares of Scana Corporation from $70.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 11th. Zacks Investment Research lowered shares of Scana Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Scana Corporation from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $66.00 to $64.00 in a research note on Thursday, July 20th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $65.06.
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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