Scana Corporation (NYSE:SCG) Shares Sold by Credit Suisse AG

Credit Suisse AG cut its position in shares of Scana Corporation (NYSE:SCG) by 12.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,917 shares of the utilities provider’s stock after selling 25,794 shares during the period. Credit Suisse AG owned 0.13% of Scana Corporation worth $12,281,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlueCrest Capital Management Ltd increased its stake in shares of Scana Corporation by 331.7% in the first quarter. BlueCrest Capital Management Ltd now owns 18,260 shares of the utilities provider’s stock worth $1,193,000 after buying an additional 14,030 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of Scana Corporation by 20.8% in the first quarter. OppenheimerFunds Inc. now owns 7,837 shares of the utilities provider’s stock worth $512,000 after buying an additional 1,349 shares in the last quarter. Pensionfund DSM Netherlands increased its stake in shares of Scana Corporation by 4.0% in the first quarter. Pensionfund DSM Netherlands now owns 41,600 shares of the utilities provider’s stock worth $2,719,000 after buying an additional 1,600 shares in the last quarter. Koch Industries Inc. purchased a new stake in shares of Scana Corporation during the first quarter worth about $263,000. Finally, Franklin Resources Inc. increased its stake in shares of Scana Corporation by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 8,753 shares of the utilities provider’s stock worth $641,000 after buying an additional 385 shares in the last quarter. Institutional investors own 67.55% of the company’s stock.

Shares of Scana Corporation (SCG) traded down 2.37% during midday trading on Friday, reaching $63.79. 1,758,337 shares of the company traded hands. Scana Corporation has a 12 month low of $60.00 and a 12 month high of $75.92. The company has a 50 day moving average of $66.63 and a 200 day moving average of $67.30. The firm has a market capitalization of $9.12 billion, a P/E ratio of 15.46 and a beta of 0.25.

Scana Corporation (NYSE:SCG) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The business had revenue of $1 billion for 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 10.55%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. On average, equities research analysts predict that Scana Corporation will post $4.14 earnings per share for the current fiscal 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 issued a dividend of $0.6125 per share. This represents a $2.45 annualized dividend and a yield of 3.84%. Scana Corporation’s dividend payout ratio is currently 57.68%.

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A number of brokerages have recently issued reports on SCG. BidaskClub raised shares of Scana Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research cut shares of Scana Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. Mizuho reissued an “underperform” rating and issued a $63.00 price target on shares of Scana Corporation in a research report on Friday, July 7th. Barclays PLC reissued an “equal weight” rating and issued a $67.00 price target (down previously from $70.00) on shares of Scana Corporation in a research report on Sunday, April 23rd. Finally, Guggenheim cut shares of Scana Corporation from a “buy” rating to a “sell” rating in a research report on Friday, July 28th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Scana Corporation presently has a consensus rating of “Hold” and a consensus price target of $71.44.

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.

Institutional Ownership by Quarter for Scana Corporation (NYSE:SCG)

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