Scana Corporation Sees Unusually Large Options Volume (SCG)
Scana Corporation (NYSE:SCG) was the target of some unusual options trading on Monday. Stock investors acquired 6,094 put options on the company. This is an increase of Infinity compared to the average daily volume of 0 put options.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WFG Advisors LP grew its stake in Scana Corporation by 60.6% during the 2nd quarter. WFG Advisors LP now owns 1,747 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 659 shares in the last quarter. Jolley Asset Management LLC grew its stake in Scana Corporation by 25.1% during the 2nd quarter. Jolley Asset Management LLC now owns 1,995 shares of the utilities provider’s stock worth $134,000 after purchasing an additional 400 shares in the last quarter. Willingdon Wealth Management acquired a new position in Scana Corporation during the 3rd quarter worth $112,000. Fiduciary Trust Co. acquired a new position in Scana Corporation during the 2nd quarter worth $164,000. Finally, Pacer Advisors Inc. grew its stake in Scana Corporation by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,641 shares of the utilities provider’s stock worth $177,000 after purchasing an additional 203 shares in the last quarter. 67.02% of the stock is owned by hedge funds and other institutional investors.
Scana Corporation (SCG) opened at $43.23 on Thursday. Scana Corporation has a one year low of $41.15 and a one year high of $74.99. The company has a market capitalization of $6,260.86, a price-to-earnings ratio of 10.79, a P/E/G ratio of 2.99 and a beta of 0.21. The company has a current ratio of 0.54, a quick ratio of 0.41 and a debt-to-equity ratio of 1.11.
Scana Corporation (NYSE:SCG) last released its earnings results on Thursday, October 26th. The utilities provider reported $1.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.01). Scana Corporation had a return on equity of 10.05% and a net margin of 10.45%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm earned $1.32 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. analysts anticipate that Scana Corporation will post 4.19 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Tuesday, December 12th will be paid a dividend of $0.6125 per share. The ex-dividend date of this dividend is Monday, December 11th. This represents a $2.45 annualized dividend and a yield of 5.67%. Scana Corporation’s payout ratio is 77.78%.
A number of equities research analysts have recently weighed in on SCG shares. Zacks Investment Research cut Scana Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) raised Scana Corporation from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $66.00 to $64.00 in a research note on Thursday, July 20th. Mizuho raised Scana Corporation from an “underperform” rating to a “neutral” rating and set a $58.50 price objective for the company in a research note on Monday, August 28th. Bank of America Corporation started coverage on Scana Corporation in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $49.00 price objective for the company. Finally, Williams Capital dropped their price objective on Scana Corporation from $70.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, September 27th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $61.44.
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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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