Scana Corporation (SCG) Holdings Increased by OxFORD Asset Management LLP
OxFORD Asset Management LLP grew its holdings in Scana Corporation (NYSE:SCG) by 74.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,001 shares of the utilities provider’s stock after purchasing an additional 20,460 shares during the period. OxFORD Asset Management LLP’s holdings in Scana Corporation were worth $3,217,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted 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 worth $801,389,000 after buying an additional 11,927,826 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of Scana Corporation during the first quarter valued at $91,844,000. LSV Asset Management grew its holdings in shares of Scana Corporation by 833.9% during the second quarter. LSV Asset Management now owns 1,241,196 shares of the utilities provider’s stock valued at $83,172,000 after buying an additional 1,108,296 shares in the last quarter. Nordea Investment Management AB raised its position in Scana Corporation by 1,365.8% during the second quarter. Nordea Investment Management AB now owns 1,100,102 shares of the utilities provider’s stock valued at $73,718,000 after buying an additional 1,025,052 shares during the period. Finally, First Trust Advisors LP raised its position in Scana Corporation by 106.6% during 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. Institutional investors own 66.66% of the company’s stock.
Scana Corporation (SCG) opened at 48.49 on Monday. The firm has a 50-day moving average price of $61.10 and a 200 day moving average price of $65.28. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 11.44 and a beta of 0.23. Scana Corporation has a 12 month low of $48.32 and a 12 month high of $74.99.
Scana Corporation (NYSE:SCG) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $931.67 million. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $0.74 earnings per share. On average, equities analysts forecast that Scana Corporation will post $4.19 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Monday, September 11th were paid a $0.6125 dividend. This represents a $2.45 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend was Friday, September 8th. Scana Corporation’s payout ratio is presently 57.92%.
Several equities research analysts recently issued reports on SCG shares. Zacks Investment Research downgraded Scana Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Mizuho reaffirmed an “underperform” rating and set a $59.50 target price (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 target price for the company from $65.00 to $73.00 in a research note on Tuesday, August 1st. Guggenheim downgraded Scana Corporation from a “buy” rating to a “sell” rating in a 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 report on Thursday, August 10th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Scana Corporation has an average rating of “Hold” and a consensus target price of $68.06.
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Scana Corporation 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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