Credit Suisse AG cut its position in Scana Corporation (NYSE:SCG) by 12.1% during the first quarter, according to its most recent Form 13F filing with the 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 approximately 0.13% of Scana Corporation worth $12,281,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. CENTRAL TRUST Co boosted its stake in shares of Scana Corporation by 5.5% in the first quarter. CENTRAL TRUST Co now owns 1,534 shares of the utilities provider’s stock worth $100,000 after buying an additional 80 shares in the last quarter. Jolley Asset Management LLC boosted its stake in shares of Scana Corporation by 3.2% in the first quarter. Jolley Asset Management LLC now owns 1,595 shares of the utilities provider’s stock worth $104,000 after buying an additional 50 shares in the last quarter. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Scana Corporation during the first quarter worth about $112,000. Cribstone Capital Management LLC boosted its stake in shares of Scana Corporation by 113.7% in the first quarter. Cribstone Capital Management LLC now owns 1,842 shares of the utilities provider’s stock worth $120,000 after buying an additional 980 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake 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 in the last quarter. Hedge funds and other institutional investors own 69.30% of the company’s stock.
Scana Corporation (NYSE SCG) opened at 63.78 on Wednesday. The firm’s 50-day moving average is $67.99 and its 200-day moving average is $68.66. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 15.46 and a beta of 0.26. Scana Corporation has a 52-week low of $63.30 and a 52-week high of $75.92.
Scana Corporation (NYSE:SCG) last announced its earnings results on Thursday, April 27th. The utilities provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.37 by $0.18. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.26 billion. Scana Corporation had a return on equity of 10.35% and a net margin of 13.93%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 EPS. Analysts forecast that Scana Corporation will post $4.21 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, July 1st. Investors of record on Monday, June 12th were issued a dividend of $0.6125 per share. This represents a $2.45 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Thursday, June 8th. Scana Corporation’s payout ratio is 59.22%.
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A number of equities research analysts recently issued reports on SCG shares. BidaskClub upgraded shares of Scana Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Barclays PLC reissued an “equal weight” rating and set a $67.00 target price (down previously from $70.00) on shares of Scana Corporation in a research report on Sunday, April 23rd. Zacks Investment Research lowered 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 set a $63.00 target price on shares of Scana Corporation in a research report on Friday, July 7th. Finally, Morgan Stanley cut their target price on shares of Scana Corporation from $70.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $71.33.
In related news, VP Martin K. Phalen sold 42,023 shares of Scana Corporation stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $65.49, for a total transaction of $2,752,086.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.
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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