Bank of Montreal Can Acquires Shares of 175,969 Scana Corp. (SCG)
Bank of Montreal Can bought a new stake in Scana Corp. (NYSE:SCG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 175,969 shares of the company’s stock, valued at approximately $13,313,000. Bank of Montreal Can owned about 0.12% of Scana Corp. as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Scana Corp. during the fourth quarter valued at approximately $35,838,000. State Street Corp boosted its position in shares of Scana Corp. by 6.7% in the first quarter. State Street Corp now owns 7,429,893 shares of the company’s stock valued at $521,200,000 after buying an additional 469,496 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Scana Corp. by 83.8% in the first quarter. JPMorgan Chase & Co. now owns 414,461 shares of the company’s stock valued at $29,074,000 after buying an additional 189,009 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Scana Corp. by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,674,675 shares of the company’s stock valued at $257,778,000 after buying an additional 170,306 shares in the last quarter. Finally, Energy Income Partners LLC boosted its position in shares of Scana Corp. by 36.2% in the first quarter. Energy Income Partners LLC now owns 611,512 shares of the company’s stock valued at $42,898,000 after buying an additional 162,463 shares in the last quarter. 64.84% of the stock is currently owned by institutional investors.
Scana Corp. (NYSE:SCG) traded down 0.47% during mid-day trading on Friday, hitting $72.37. 913,786 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $72.16 and its 200-day moving average price is $71.31. The stock has a market cap of $10.34 billion, a PE ratio of 19.59 and a beta of 0.22. Scana Corp. has a 12 month low of $55.36 and a 12 month high of $76.41.
Scana Corp. (NYSE:SCG) last released its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.74. The firm had revenue of $905 million for the quarter, compared to analysts’ expectations of $986.95 million. Scana Corp. had a net margin of 12.88% and a return on equity of 9.82%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 earnings per share. Equities analysts expect that Scana Corp. will post $3.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Monday, September 12th were paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Thursday, September 8th. Scana Corp.’s payout ratio is 62.16%.
Several research analysts have recently commented on SCG shares. Zacks Investment Research raised shares of Scana Corp. from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Wednesday, September 21st. Morgan Stanley cut shares of Scana Corp. from an “equal weight” rating to an “underweight” rating and set a $67.00 target price on the stock. in a report on Wednesday, June 15th. Williams Capital reaffirmed a “buy” rating on shares of Scana Corp. in a report on Monday, September 12th. Finally, Mizuho raised their target price on shares of Scana Corp. from $74.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $71.58.
Scana Corp. Company Profile
SCANA Corporation is a holding company. The Company, through its subsidiaries, is engaged in generation, transmission, distribution and sale of electricity, and the purchase, sale and transportation of natural gas in North Carolina and South Carolina. It operates through segments, including Electric Operations, Gas Distribution, Retail Gas Marketing, Energy Marketing and All Other.
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