Meiji Yasuda Life Insurance Co acquired a new stake in shares of Scana Corporation (NYSE:SCG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,600 shares of the utilities provider’s stock, valued at approximately $241,000.
Other large investors also recently added to or reduced their stakes in the company. Jolley Asset Management LLC boosted its position in Scana Corporation by 25.1% during the 2nd quarter. Jolley Asset Management LLC now owns 1,995 shares of the utilities provider’s stock worth $134,000 after acquiring an additional 400 shares during the period. Parallel Advisors LLC boosted its position in Scana Corporation by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,235 shares of the utilities provider’s stock worth $145,000 after acquiring an additional 13 shares during the period. Pacer Advisors Inc. boosted its position in Scana Corporation by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 2,438 shares of the utilities provider’s stock worth $159,000 after acquiring an additional 77 shares during the period. Bridgeworth LLC acquired a new position in Scana Corporation during the 1st quarter worth $210,000. Finally, Focused Wealth Management Inc lifted its holdings 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 valued at $208,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 66.66% of the company’s stock.
Scana Corporation (NYSE:SCG) opened at 55.22 on Friday. Scana Corporation has a 52-week low of $55.15 and a 52-week high of $75.92. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 13.03 and a beta of 0.27. The company’s 50-day moving average price is $61.10 and its 200 day moving average price is $65.28.
Scana Corporation (NYSE:SCG) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.85 EPS for the quarter, beating the Zacks’ 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 net margin of 13.99% and a return on equity of 10.50%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Equities analysts predict that Scana Corporation will post $4.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Monday, September 11th will be given a dividend of $0.6125 per share. The ex-dividend date is Friday, September 8th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.44%. Scana Corporation’s dividend payout ratio (DPR) is presently 57.92%.
Several brokerages have recently weighed in on SCG. Zacks Investment Research lowered Scana Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Mizuho restated an “underperform” rating and issued a $59.50 price objective (up previously from $57.00) on shares of Scana Corporation in a report on Tuesday, August 1st. Barclays PLC upgraded Scana Corporation from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $65.00 to $73.00 in a report on Tuesday, August 1st. Guggenheim lowered Scana Corporation from a “buy” rating to a “sell” rating in a report on Friday, July 28th. Finally, Morgan Stanley boosted their target price on Scana Corporation from $58.00 to $59.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $70.28.
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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