Advisors Asset Management Inc. Sells 454 Shares of Scana Corporation (SCG)
Advisors Asset Management Inc. lowered its stake in Scana Corporation (NYSE:SCG) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,320 shares of the utilities provider’s stock after selling 454 shares during the period. Advisors Asset Management Inc.’s holdings in Scana Corporation were worth $1,697,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd raised its position in shares of Scana Corporation by 331.7% in the first quarter. BlueCrest Capital Management Ltd now owns 18,260 shares of the utilities provider’s stock worth $1,193,000 after buying an additional 14,030 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Scana Corporation during the second quarter worth about $2,767,000. OppenheimerFunds Inc. raised its position in shares of Scana Corporation by 20.8% in the first quarter. OppenheimerFunds Inc. now owns 7,837 shares of the utilities provider’s stock worth $512,000 after buying an additional 1,349 shares during the last quarter. Koch Industries Inc. acquired a new position in shares of Scana Corporation during the first quarter worth about $263,000. Finally, Fulton Bank N.A. acquired a new position in shares of Scana Corporation during the second quarter worth about $344,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Scana Corporation (NYSE SCG) opened at 60.08 on Friday. The company’s 50 day moving average price is $63.24 and its 200 day moving average price is $66.36. Scana Corporation has a 52-week low of $59.34 and a 52-week high of $75.92. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 14.18 and a beta of 0.25.
Scana Corporation (NYSE:SCG) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $931.67 million. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 earnings per share. Analysts forecast that Scana Corporation will post $4.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Monday, September 11th will be given a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Friday, September 8th. Scana Corporation’s dividend payout ratio is currently 57.68%.
A number of equities analysts have issued reports on the company. Zacks Investment Research lowered Scana Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Mizuho reaffirmed an “underperform” rating and issued a $59.50 target price (up from $57.00) on shares of Scana Corporation in a research report on Tuesday, August 1st. Barclays PLC raised Scana Corporation from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $65.00 to $73.00 in a research report on Tuesday, August 1st. Guggenheim lowered Scana Corporation from a “buy” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Morgan Stanley upped their target price on Scana Corporation from $58.00 to $59.00 and gave the company an “underweight” rating in a research report on Thursday, August 10th. 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 company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $70.44.
About Scana Corporation
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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