Oppenheimer & Co. Inc. boosted its holdings in shares of Scana Corporation (NYSE:SCG) by 0.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,339 shares of the utilities provider’s stock after acquiring an additional 109 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Scana Corporation were worth $1,497,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in SCG. Jolley Asset Management LLC lifted its holdings in shares of Scana Corporation by 25.1% during the 2nd quarter. Jolley Asset Management LLC now owns 1,995 shares of the utilities provider’s stock valued at $134,000 after buying an additional 400 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Scana Corporation by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,235 shares of the utilities provider’s stock valued at $145,000 after buying an additional 13 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Scana Corporation by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 2,438 shares of the utilities provider’s stock valued at $159,000 after buying an additional 77 shares during the last quarter. Focused Wealth Management Inc lifted its holdings in shares of Scana Corporation by 0.4% during the 1st 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 last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Scana Corporation during the 1st quarter valued at about $209,000. Institutional investors and hedge funds own 66.70% of the company’s stock.
Scana Corporation (NYSE SCG) traded down 0.07% during mid-day trading on Friday, hitting $59.58. The stock had a trading volume of 233,890 shares. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 14.06 and a beta of 0.27. The stock’s 50 day moving average price is $61.52 and its 200 day moving average price is $65.57. Scana Corporation has a one year low of $58.55 and a one year high of $75.92.
Scana Corporation (NYSE:SCG) last released its 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 return on equity of 10.50% and a net margin of 13.99%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Analysts forecast that Scana Corporation will post $4.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Monday, September 11th will be paid a $0.6125 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.45 dividend on an annualized basis and a yield of 4.11%. Scana Corporation’s dividend payout ratio is presently 57.92%.
SCG has been the subject of several research reports. Morgan Stanley reduced their price target on Scana Corporation from $70.00 to $67.00 and set an “underweight” rating for the company in a report on Tuesday, July 11th. BidaskClub downgraded Scana Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) raised Scana Corporation from a “sell” rating to a “neutral” rating and cut their price objective for the company from $66.00 to $64.00 in a research note on Thursday, July 20th. Mizuho reissued an “underperform” rating and issued a $63.00 price objective on shares of Scana Corporation in a research note on Friday, July 7th. Finally, Gabelli downgraded Scana Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $70.31.
Scana Corporation 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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