BNP Paribas Arbitrage SA Cuts Stake in Scana Corp. (SCG)
BNP Paribas Arbitrage SA cut its position in Scana Corp. (NYSE:SCG) by 40.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,961 shares of the company’s stock after selling 31,251 shares during the period. BNP Paribas Arbitrage SA’s holdings in Scana Corp. were worth $3,399,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Eqis Capital Management Inc. raised its stake in shares of Scana Corp. by 17.9% in the third quarter. Eqis Capital Management Inc. now owns 8,965 shares of the company’s stock worth $649,000 after buying an additional 1,363 shares in the last quarter. LVM Capital Management Ltd. MI raised its stake in shares of Scana Corp. by 17.5% in the third quarter. LVM Capital Management Ltd. MI now owns 185,860 shares of the company’s stock worth $10,001,000 after buying an additional 27,630 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Scana Corp. during the second quarter worth approximately $437,000. Kentucky Retirement Systems acquired a new stake in shares of Scana Corp. during the second quarter worth approximately $919,000. Finally, Mason Street Advisors LLC acquired a new stake in shares of Scana Corp. during the second quarter worth approximately $1,456,000. 64.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of Scana Corp. (NYSE:SCG) traded down 0.06% during trading on Tuesday, hitting $72.45. 683,349 shares of the stock traded hands. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 18.20 and a beta of 0.22. The stock has a 50 day moving average price of $70.58 and a 200-day moving average price of $71.76. Scana Corp. has a 1-year low of $56.50 and a 1-year high of $76.41.
Scana Corp. (NYSE:SCG) last announced its quarterly earnings data on Thursday, October 27th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. The company earned $1.09 billion during the quarter, compared to the consensus estimate of $1.36 billion. Scana Corp. had a net margin of 13.77% and a return on equity of 10.71%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 EPS. Equities analysts forecast that Scana Corp. will post $4.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Monday, December 12th will be given a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 3.17%. The ex-dividend date is Thursday, December 8th. Scana Corp.’s payout ratio is currently 57.79%.
Several analysts have issued reports on the stock. Guggenheim assumed coverage on shares of Scana Corp. in a research report on Thursday, November 3rd. They set a “buy” rating and a $78.00 price target on the stock. Mizuho dropped their price target on shares of Scana Corp. from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 28th. Zacks Investment Research lowered shares of Scana Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Finally, Williams Capital reaffirmed a “buy” rating on shares of Scana Corp. in a research report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $73.75.
About Scana Corp.
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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