Sumitomo Mitsui Trust Holdings Inc. Reduces Stake in Scana Corporation (SCG)
Sumitomo Mitsui Trust Holdings Inc. lowered its position in Scana Corporation (NYSE:SCG) by 0.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 402,123 shares of the utilities provider’s stock after selling 757 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.28% of Scana Corporation worth $26,946,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in SCG. Massmutual Trust Co. FSB ADV bought a new stake in shares of Scana Corporation during the first quarter worth $112,000. 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 worth $134,000 after buying an additional 400 shares during the period. 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 worth $145,000 after buying an additional 13 shares during the period. 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 worth $159,000 after buying an additional 77 shares during the period. Finally, Focused Wealth Management Inc raised 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. Institutional investors and hedge funds own 66.64% of the company’s stock.
Scana Corporation (NYSE:SCG) opened at 59.75 on Thursday. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 14.10 and a beta of 0.25. Scana Corporation has a one year low of $59.34 and a one year high of $75.92. The company has a 50-day moving average price of $63.24 and a 200-day moving average price of $66.36.
Scana Corporation (NYSE:SCG) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 net margin of 13.99% and a return on equity of 10.50%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 earnings per share. Equities research analysts anticipate that Scana Corporation will post $4.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Monday, September 11th will be paid a dividend of $0.6125 per share. This represents a $2.45 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Friday, September 8th. Scana Corporation’s payout ratio is currently 57.68%.
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A number of equities analysts recently issued reports on SCG shares. BidaskClub raised 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 report on Friday, July 28th. Goldman Sachs Group, Inc. (The) raised Scana Corporation from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $66.00 to $64.00 in a report on Thursday, July 20th. Mizuho raised Scana Corporation from an “underperform” rating to a “neutral” rating and set a $58.50 price objective for the company in a report on Monday. Finally, Barclays PLC raised Scana Corporation from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $65.00 to $73.00 in a report on Tuesday, August 1st. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $70.31.
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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