HL Financial Services LLC lowered its position in shares of Scana Corporation (NYSE:SCG) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,632 shares of the utilities provider’s stock after selling 225 shares during the period. HL Financial Services LLC’s holdings in Scana Corporation were worth $377,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Scana Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,571,569 shares of the utilities provider’s stock worth $886,902,000 after buying an additional 479,888 shares during the last quarter. BlackRock Inc. raised its position in Scana Corporation by 3,558.5% in the first quarter. BlackRock Inc. now owns 12,263,023 shares of the utilities provider’s stock worth $801,389,000 after buying an additional 11,927,826 shares during the last quarter. Morgan Stanley raised its position in Scana Corporation by 127.7% in the first quarter. Morgan Stanley now owns 1,473,057 shares of the utilities provider’s stock worth $96,264,000 after buying an additional 826,008 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in Scana Corporation during the first quarter worth $91,844,000. Finally, Geode Capital Management LLC raised its position in Scana Corporation by 10.0% in the first quarter. Geode Capital Management LLC now owns 1,403,205 shares of the utilities provider’s stock worth $91,567,000 after buying an additional 127,422 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.
Shares of Scana Corporation (NYSE SCG) opened at 61.81 on Tuesday. Scana Corporation has a 12 month low of $60.00 and a 12 month high of $75.92. The firm has a 50-day moving average of $64.89 and a 200 day moving average of $66.85. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 14.59 and a beta of 0.25.
Scana Corporation (NYSE:SCG) last issued 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 firm had revenue of $1 billion for the quarter, compared to analyst estimates of $931.67 million. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. Scana Corporation’s revenue for the quarter 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. On average, analysts expect that Scana Corporation will post $4.14 earnings per share 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 given a $0.6125 dividend. The ex-dividend date is Friday, September 8th. This represents a $2.45 dividend on an annualized basis and a yield of 3.96%. Scana Corporation’s dividend payout ratio is currently 57.68%.
SCG has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Scana Corporation from $70.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 11th. BidaskClub lowered shares of Scana Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) raised shares of Scana Corporation from a “sell” rating to a “neutral” rating and dropped their price target for the company from $66.00 to $64.00 in a research report on Thursday, July 20th. Mizuho reissued an “underperform” rating and set a $63.00 price target on shares of Scana Corporation in a research report on Friday, July 7th. Finally, Gabelli lowered shares of Scana Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Scana Corporation has a consensus rating of “Hold” and a consensus 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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