Colonial Trust Advisors Acquires 8,782 Shares of Scana Corporation (SCG)
Colonial Trust Advisors raised its holdings in Scana Corporation (NYSE:SCG) by 85.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,088 shares of the utilities provider’s stock after purchasing an additional 8,782 shares during the period. Colonial Trust Advisors’ holdings in Scana Corporation were worth $1,279,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Janus Henderson Group PLC boosted its holdings in Scana Corporation by 6,220.2% in the 2nd quarter. Janus Henderson Group PLC now owns 1,250,396 shares of the utilities provider’s stock valued at $83,789,000 after purchasing an additional 1,230,612 shares during the period. Horizon Investment Services LLC boosted its holdings in Scana Corporation by 11.5% in the 2nd quarter. Horizon Investment Services LLC now owns 9,795 shares of the utilities provider’s stock valued at $656,000 after purchasing an additional 1,012 shares during the period. Cambria Investment Management L.P. bought a new stake in Scana Corporation in the 2nd quarter valued at about $5,146,000. Castleton Investment Management LLC bought a new stake in Scana Corporation in the 2nd quarter valued at about $4,123,000. Finally, AHL Partners LLP bought a new stake in Scana Corporation in the 2nd quarter valued at about $2,097,000. 66.66% of the stock is owned by hedge funds and other institutional investors.
Shares of Scana Corporation (SCG) traded down 0.87% during trading on Thursday, hitting $48.00. 528,383 shares of the stock traded hands. The stock has a 50-day moving average of $57.63 and a 200 day moving average of $64.06. Scana Corporation has a 1-year low of $47.80 and a 1-year high of $74.99. The company has a market cap of $6.86 billion, a P/E ratio of 11.33 and a beta of 0.23.
Scana Corporation (NYSE:SCG) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 EPS for the quarter, beating 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 analyst estimates of $931.67 million. During the same period last year, the business earned $0.74 earnings per share. Scana Corporation’s revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts predict that Scana Corporation will post $4.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Monday, September 11th were given a $0.6125 dividend. The ex-dividend date was Friday, September 8th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 5.06%. Scana Corporation’s dividend payout ratio (DPR) is currently 57.92%.
A number of research firms have issued reports on SCG. Zacks Investment Research downgraded shares of Scana Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Mizuho reissued an “underperform” rating and issued a $59.50 price objective (up previously from $57.00) on shares of Scana Corporation in a report on Tuesday, August 1st. Morgan Stanley reissued an “underweight” rating and issued a $45.00 price objective on shares of Scana Corporation in a report on Wednesday. Barclays PLC raised shares of Scana Corporation from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $65.00 to $73.00 in a report on Tuesday, August 1st. Finally, Guggenheim downgraded shares of Scana Corporation from a “buy” rating to a “sell” rating in a report on Friday, July 28th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $65.06.
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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