Scana Corporation (SCG) Stake Reduced by Wesbanco Bank Inc.
Wesbanco Bank Inc. lowered its position in Scana Corporation (NYSE:SCG) by 0.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 27,506 shares of the utilities provider’s stock after selling 149 shares during the period. Wesbanco Bank Inc.’s holdings in Scana Corporation were worth $1,843,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV bought a new position in shares of Scana Corporation during the first quarter worth about $112,000. Jolley Asset Management LLC boosted 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 worth $134,000 after buying an additional 400 shares during the period. Parallel Advisors LLC boosted 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 worth $145,000 after buying an additional 13 shares during the period. Pacer Advisors Inc. boosted 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 worth $159,000 after buying an additional 77 shares during the period. Finally, Focused Wealth Management Inc boosted its position in shares of Scana Corporation by 0.4% in the first quarter. Focused Wealth Management Inc now owns 3,182 shares of the utilities provider’s stock worth $208,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 66.64% of the company’s stock.
Shares of Scana Corporation (NYSE:SCG) opened at 59.77 on Thursday. The stock’s 50 day moving average price is $63.24 and its 200-day moving average price is $66.36. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 14.11 and a beta of 0.25. Scana Corporation has a 52-week low of $59.34 and a 52-week high of $75.92.
Scana Corporation (NYSE:SCG) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations 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 was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. On average, analysts forecast that Scana Corporation will post $4.17 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Monday, September 11th will be given a dividend of $0.6125 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.45 annualized dividend and a yield of 4.10%. Scana Corporation’s payout ratio is 57.68%.
A number of equities analysts have issued reports on SCG shares. BidaskClub upgraded Scana Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Gabelli lowered Scana Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Goldman Sachs Group, Inc. (The) raised 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 report on Thursday, July 20th. Mizuho raised Scana Corporation from an “underperform” rating to a “neutral” rating and set a $58.50 price target on the stock in a research report on Monday. Finally, Barclays PLC raised Scana Corporation from an “equal weight” rating to an “overweight” rating and raised 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, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $70.31.
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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