UMB Bank N A MO Has $1.06 Million Position in Scana Corporation (NYSE:SCG)
UMB Bank N A MO cut its stake in shares of Scana Corporation (NYSE:SCG) by 5.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,884 shares of the utilities provider’s stock after selling 855 shares during the period. UMB Bank N A MO’s holdings in Scana Corporation were worth $1,064,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. increased its position in shares of Scana Corporation by 3,558.5% in the first quarter. BlackRock Inc. now owns 12,263,023 shares of the utilities provider’s stock valued at $801,389,000 after buying an additional 11,927,826 shares during the period. Artisan Partners Limited Partnership acquired a new position in shares of Scana Corporation during the first quarter valued at $91,844,000. First Trust Advisors LP increased its position in shares of Scana Corporation by 106.6% in the second quarter. First Trust Advisors LP now owns 1,651,461 shares of the utilities provider’s stock valued at $110,664,000 after buying an additional 852,243 shares during the period. Morgan Stanley increased its position in shares of Scana Corporation by 127.7% in the first quarter. Morgan Stanley now owns 1,473,057 shares of the utilities provider’s stock valued at $96,264,000 after buying an additional 826,008 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Scana Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,571,569 shares of the utilities provider’s stock valued at $886,902,000 after buying an additional 479,888 shares during the period. Institutional investors own 67.56% of the company’s stock.
Shares of Scana Corporation (NYSE:SCG) opened at 60.69 on Friday. The stock’s 50 day moving average is $65.11 and its 200 day moving average is $66.94. The stock has a market capitalization of $8.67 billion, a PE ratio of 14.32 and a beta of 0.25. Scana Corporation has a 52 week low of $60.00 and a 52 week high of $75.92.
Scana Corporation (NYSE:SCG) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $931.67 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. Analysts anticipate that Scana Corporation will post $4.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Monday, September 11th will be given a $0.6125 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.45 dividend on an annualized basis and a yield of 4.04%. Scana Corporation’s payout ratio is 57.68%.
Several research analysts have weighed in on SCG shares. Zacks Investment Research downgraded Scana Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) upgraded Scana Corporation from a “sell” rating to a “neutral” rating and cut their price target for the company from $66.00 to $64.00 in a report on Thursday, July 20th. Mizuho reiterated an “underperform” rating and issued a $63.00 price target on shares of Scana Corporation in a report on Friday, July 7th. BidaskClub upgraded Scana Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Finally, Guggenheim cut shares of Scana Corporation from a “buy” rating to a “sell” rating in a research note on Friday, July 28th. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $70.44.
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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