Legg Mason Asset Management Japan Co. Ltd. Invests $610,000 in Scana Corporation (SCG) Stock
Legg Mason Asset Management Japan Co. Ltd. purchased a new position in Scana Corporation (NYSE:SCG) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,100 shares of the utilities provider’s stock, valued at approximately $610,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Federated Investors Inc. PA increased its stake in Scana Corporation by 264,341.0% in the 2nd quarter. Federated Investors Inc. PA now owns 161,309 shares of the utilities provider’s stock worth $10,809,000 after purchasing an additional 161,248 shares in the last quarter. BlueCrest Capital Management Ltd increased its stake in Scana Corporation by 331.7% in the 1st quarter. BlueCrest Capital Management Ltd now owns 18,260 shares of the utilities provider’s stock worth $1,193,000 after purchasing an additional 14,030 shares in the last quarter. American Century Companies Inc. increased its stake in Scana Corporation by 22.6% in the 2nd quarter. American Century Companies Inc. now owns 234,866 shares of the utilities provider’s stock worth $15,738,000 after purchasing an additional 43,225 shares in the last quarter. Aberdeen Asset Management PLC UK increased its stake in Scana Corporation by 23.2% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 48,016 shares of the utilities provider’s stock worth $3,218,000 after purchasing an additional 9,028 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in Scana Corporation in the 2nd quarter worth about $2,767,000. 66.66% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on SCG. Zacks Investment Research cut Scana Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Mizuho reissued an “underperform” rating and issued a $59.50 price target (up previously from $57.00) on shares of Scana Corporation in a research note on Tuesday, August 1st. Barclays PLC raised Scana Corporation from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $65.00 to $73.00 in a research note on Tuesday, August 1st. Guggenheim cut Scana Corporation from a “buy” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Morgan Stanley lifted their price target on Scana Corporation from $58.00 to $59.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $68.06.
Scana Corporation (NYSE SCG) traded down 2.4403% during trading on Thursday, reaching $49.9701. The company’s stock had a trading volume of 1,031,716 shares. The firm has a market cap of $7.14 billion, a P/E ratio of 11.7937 and a beta of 0.27. The stock’s 50 day moving average is $61.10 and its 200-day moving average is $65.28. Scana Corporation has a 52 week low of $49.50 and a 52 week high of $75.92.
Scana Corporation (NYSE:SCG) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $931.67 million. During the same period in the prior year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts forecast that Scana Corporation will post $4.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Monday, September 11th will be issued a $0.6125 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.45 annualized dividend and a dividend yield of 4.78%. Scana Corporation’s dividend payout ratio (DPR) is currently 57.92%.
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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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