Scana Corporation (SCG) Stake Boosted by Retirement Systems of Alabama
Retirement Systems of Alabama boosted its position in Scana Corporation (NYSE:SCG) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 69,293 shares of the utilities provider’s stock after buying an additional 209 shares during the period. Retirement Systems of Alabama’s holdings in Scana Corporation were worth $4,643,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Strs Ohio increased its stake in shares of Scana Corporation by 18.8% in the first quarter. Strs Ohio now owns 26,916 shares of the utilities provider’s stock worth $1,758,000 after buying an additional 4,257 shares during the last quarter. Shell Asset Management Co. increased its stake in shares of Scana Corporation by 4.3% in the first quarter. Shell Asset Management Co. now owns 12,615 shares of the utilities provider’s stock worth $824,000 after buying an additional 523 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Scana Corporation by 11.0% in the first quarter. Janney Montgomery Scott LLC now owns 28,384 shares of the utilities provider’s stock worth $1,855,000 after buying an additional 2,817 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Scana Corporation by 46.4% in the first quarter. First Citizens Bank & Trust Co. now owns 51,593 shares of the utilities provider’s stock worth $3,372,000 after buying an additional 16,363 shares during the last quarter. Finally, GW Henssler & Associates Ltd. increased its stake in shares of Scana Corporation by 4.2% in the first quarter. GW Henssler & Associates Ltd. now owns 64,457 shares of the utilities provider’s stock worth $4,212,000 after buying an additional 2,592 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Scana Corporation (NYSE SCG) opened at 60.83 on Friday. The stock has a market capitalization of $8.69 billion, a P/E ratio of 14.36 and a beta of 0.25. The company has a 50-day moving average of $64.08 and a 200-day moving average of $66.68. Scana Corporation has a 52 week low of $60.00 and a 52 week high of $75.92.
Scana Corporation (NYSE:SCG) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $931.67 million. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. On average, analysts anticipate that Scana Corporation will post $4.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Monday, September 11th will be issued a dividend of $0.6125 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.45 annualized dividend and a dividend yield of 4.03%. Scana Corporation’s dividend payout ratio (DPR) is 57.68%.
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A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Scana Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Mizuho reissued an “underperform” rating and issued a $63.00 price target on shares of Scana Corporation in a report on Friday, July 7th. Barclays PLC reissued an “equal weight” rating and issued a $67.00 price target (down from $70.00) on shares of Scana Corporation in a report on Sunday, April 23rd. Guggenheim downgraded shares of Scana Corporation from a “buy” rating to a “sell” rating in a report on Friday, July 28th. Finally, Gabelli downgraded shares of Scana Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price 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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