SCANA Co. (SCG) Stake Reduced by Korea Investment CORP
Korea Investment CORP cut its stake in shares of SCANA Co. (NYSE:SCG) by 48.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,300 shares of the utilities provider’s stock after selling 18,260 shares during the period. Korea Investment CORP’s holdings in SCANA were worth $1,261,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. First Midwest Bank Trust Division boosted its stake in shares of SCANA by 33.4% in the third quarter. First Midwest Bank Trust Division now owns 43,554 shares of the utilities provider’s stock valued at $3,152,000 after buying an additional 10,894 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of SCANA by 0.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 209,385 shares of the utilities provider’s stock worth $15,344,000 after buying an additional 1,382 shares during the last quarter. World Asset Management Inc boosted its stake in shares of SCANA by 2.3% in the third quarter. World Asset Management Inc now owns 14,753 shares of the utilities provider’s stock worth $1,068,000 after buying an additional 332 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of SCANA by 1.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 287,526 shares of the utilities provider’s stock worth $20,808,000 after buying an additional 3,111 shares during the last quarter. Finally, Elkfork Partners LLC bought a new stake in shares of SCANA during the fourth quarter worth about $982,000. 65.18% of the stock is owned by institutional investors and hedge funds.
SCANA Co. (NYSE:SCG) traded up 0.34% on Friday, reaching $65.21. The company’s stock had a trading volume of 176,270 shares. SCANA Co. has a 12 month low of $64.20 and a 12 month high of $76.41. The company has a 50-day moving average price of $65.87 and a 200 day moving average price of $69.18. The company has a market cap of $9.32 billion, a P/E ratio of 15.81 and a beta of 0.21.
SCANA (NYSE:SCG) last announced its earnings results on Thursday, April 27th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by $0.18. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.26 billion. SCANA had a net margin of 13.77% and a return on equity of 10.71%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.23 earnings per share. On average, equities research analysts anticipate that SCANA Co. will post $4.21 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Monday, June 12th will be given a dividend of $0.6125 per share. This represents a $2.45 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Thursday, June 8th. SCANA’s dividend payout ratio is 57.79%.
SCG has been the subject of a number of recent analyst reports. Zacks Investment Research raised SCANA from a “sell” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Thursday, February 9th. Barclays PLC reiterated an “equal weight” rating and set a $67.00 price target (down from $70.00) on shares of SCANA in a report on Sunday, April 23rd. Mizuho lowered SCANA from a “buy” rating to a “neutral” rating and cut their price target for the stock from $80.00 to $68.00 in a report on Tuesday, February 14th. Finally, Macquarie lowered SCANA from an “outperform” rating to a “neutral” rating and set a $75.00 price target for the company. in a report on Tuesday, January 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $72.17.
In other news, VP Martin K. Phalen sold 42,023 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $65.49, for a total transaction of $2,752,086.27. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.40% of the stock is currently owned by corporate insiders.
SCANA Company 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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