Chevy Chase Trust Holdings Inc. lowered its stake in shares of Scana Corporation (NYSE:SCG) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,272 shares of the utilities provider’s stock after selling 281 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.09% of Scana Corporation worth $8,394,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its stake in Scana Corporation by 36.4% in the first quarter. Bank of Montreal Can now owns 249,815 shares of the utilities provider’s stock valued at $16,327,000 after buying an additional 66,638 shares in the last quarter. LVM Capital Management Ltd. MI raised its stake in Scana Corporation by 5.6% in the first quarter. LVM Capital Management Ltd. MI now owns 160,560 shares of the utilities provider’s stock valued at $10,493,000 after buying an additional 8,575 shares in the last quarter. Carroll Financial Associates Inc. raised its stake in Scana Corporation by 130.5% in the first quarter. Carroll Financial Associates Inc. now owns 39,667 shares of the utilities provider’s stock valued at $2,592,000 after buying an additional 22,457 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in Scana Corporation by 4.2% in the first quarter. Gulf International Bank UK Ltd now owns 43,084 shares of the utilities provider’s stock valued at $2,815,000 after buying an additional 1,750 shares in the last quarter. Finally, CENTRAL TRUST Co raised its stake in Scana Corporation by 5.5% in the first quarter. CENTRAL TRUST Co now owns 1,534 shares of the utilities provider’s stock valued at $100,000 after buying an additional 80 shares in the last quarter. Institutional investors own 68.03% of the company’s stock.
Scana Corporation (NYSE:SCG) opened at 64.72 on Friday. Scana Corporation has a 12-month low of $63.18 and a 12-month high of $75.92. The stock has a market capitalization of $9.25 billion, a P/E ratio of 15.69 and a beta of 0.26. The firm’s 50-day moving average is $67.43 and its 200 day moving average is $67.75.
Scana Corporation (NYSE:SCG) last posted its quarterly earnings results on Thursday, April 27th. The utilities provider reported $1.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.37 by $0.18. Scana Corporation had a return on equity of 10.35% and a net margin of 13.93%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned $1.23 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts expect that Scana Corporation will post $4.19 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Monday, June 12th were paid a dividend of $0.6125 per share. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 3.79%. Scana Corporation’s dividend payout ratio (DPR) is presently 59.22%.
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Several analysts recently commented on the stock. BidaskClub upgraded shares of Scana Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research lowered shares of Scana Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. Mizuho restated an “underperform” rating and set a $63.00 price target on shares of Scana Corporation in a research report on Friday, July 7th. Barclays PLC restated an “equal weight” rating and set a $67.00 price target (down previously from $70.00) on shares of Scana Corporation in a research report on Sunday, April 23rd. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Scana Corporation from a “sell” rating to a “neutral” rating in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Scana Corporation currently has an average rating of “Hold” and an average target price of $72.14.
In other news, VP Martin K. Phalen sold 42,023 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $65.49, for a total transaction of $2,752,086.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.
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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