Scana Corporation (SCG) Stake Cut by Tokio Marine Asset Management Co. Ltd.
Tokio Marine Asset Management Co. Ltd. decreased its stake in shares of Scana Corporation (NYSE:SCG) by 6.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,286 shares of the utilities provider’s stock after selling 245 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Scana Corporation were worth $215,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Scana Corporation by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,193 shares of the utilities provider’s stock worth $600,000 after buying an additional 31 shares during the last quarter. Jolley Asset Management LLC increased its position in shares of Scana Corporation by 3.2% in the first quarter. Jolley Asset Management LLC now owns 1,595 shares of the utilities provider’s stock worth $104,000 after buying an additional 50 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Scana Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 2,438 shares of the utilities provider’s stock worth $159,000 after buying an additional 77 shares in the last quarter. CENTRAL TRUST Co increased its position in shares of Scana Corporation by 5.5% in the first quarter. CENTRAL TRUST Co now owns 1,534 shares of the utilities provider’s stock worth $100,000 after buying an additional 80 shares in the last quarter. Finally, Advisor Partners LLC increased its position in shares of Scana Corporation by 4.4% in the first quarter. Advisor Partners LLC now owns 3,386 shares of the utilities provider’s stock worth $221,000 after buying an additional 142 shares in the last quarter. Institutional investors own 69.32% of the company’s stock.
Scana Corporation (NYSE:SCG) traded up 1.74% during midday trading on Friday, hitting $71.22. The stock had a trading volume of 1,575,187 shares. The company’s 50 day moving average is $66.87 and its 200 day moving average is $68.81. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 17.27 and a beta of 0.26. Scana Corporation has a 1-year low of $64.20 and a 1-year high of $76.41.
Scana Corporation (NYSE:SCG) last released its earnings results on Thursday, April 27th. The utilities provider reported $1.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.37 by $0.18. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Scana Corporation had a net margin of 13.93% and a return on equity of 10.35%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 earnings per share. On average, equities analysts anticipate that Scana Corporation will post $4.20 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Monday, June 12th will be paid a $0.6125 dividend. This represents a $2.45 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Thursday, June 8th. Scana Corporation’s payout ratio is 59.22%.
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A number of analysts have weighed in on SCG shares. Zacks Investment Research cut Scana Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. Barclays PLC reissued an “equal weight” rating and set a $67.00 price objective (down previously from $70.00) on shares of Scana Corporation in a research report on Sunday, April 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Scana Corporation presently has a consensus rating of “Hold” and a consensus target price of $73.20.
In related news, VP Martin K. Phalen sold 42,023 shares of the company’s stock in a transaction that occurred on 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 can be accessed through this hyperlink. Corporate insiders own 0.37% of the company’s stock.
Scana Corporation 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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