Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $1.33 Million Stake in Scana Corporation (SCG)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its stake in Scana Corporation (NYSE:SCG) by 11.0% during the second quarter, Holdings Channel reports. The firm owned 19,914 shares of the utilities provider’s stock after selling 2,454 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Scana Corporation were worth $1,334,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SCG. Schwab Charles Investment Management Inc. raised its stake in Scana Corporation by 8.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 666,020 shares of the utilities provider’s stock valued at $44,630,000 after buying an additional 50,523 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Scana Corporation by 150.7% in the second quarter. Canada Pension Plan Investment Board now owns 351,538 shares of the utilities provider’s stock worth $23,557,000 after buying an additional 211,328 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of Scana Corporation by 6.4% in the second quarter. Global X Management Co. LLC now owns 6,688 shares of the utilities provider’s stock worth $448,000 after buying an additional 401 shares during the last quarter. Advisor Partners LLC raised its stake in shares of Scana Corporation by 8.2% in the second quarter. Advisor Partners LLC now owns 3,663 shares of the utilities provider’s stock worth $245,000 after buying an additional 277 shares during the last quarter. Finally, Tdam USA Inc. raised its stake in shares of Scana Corporation by 9.4% in the second quarter. Tdam USA Inc. now owns 7,214 shares of the utilities provider’s stock worth $488,000 after buying an additional 620 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

Shares of Scana Corporation (NYSE SCG) opened at 60.83 on Friday. Scana Corporation has a one year low of $60.00 and a one year high of $75.92. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 14.36 and a beta of 0.25. The company’s 50 day moving average is $64.08 and its 200-day moving average is $66.68.

Scana Corporation (NYSE:SCG) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.11. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $931.67 million. During the same quarter in the previous year, the company earned $0.74 EPS. Scana Corporation’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts expect that Scana Corporation will post $4.19 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors 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 dividend on an annualized basis and a dividend yield of 4.03%. Scana Corporation’s payout ratio is presently 57.68%.

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A number of equities research analysts recently commented on the stock. BidaskClub upgraded shares of Scana Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Mizuho restated an “underperform” rating and set a $63.00 price objective on shares of Scana Corporation in a report on Friday, July 7th. Barclays PLC restated an “equal weight” rating and set a $67.00 price objective (down from $70.00) on shares of Scana Corporation in a report on Sunday, April 23rd. Guggenheim lowered shares of Scana Corporation from a “buy” rating to a “sell” rating in a report on Friday, July 28th. Finally, Gabelli lowered shares of Scana Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Five research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $70.44.

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

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