LS Investment Advisors LLC decreased its stake in Scana Corporation (NYSE:SCG) by 58.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,797 shares of the utilities provider’s stock after selling 13,561 shares during the period. LS Investment Advisors LLC’s holdings in Scana Corporation were worth $656,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. Focused Wealth Management Inc raised its position in Scana Corporation by 0.4% in the first quarter. Focused Wealth Management Inc now owns 3,182 shares of the utilities provider’s stock valued at $208,000 after buying an additional 12 shares during the period. Parallel Advisors LLC raised its position in Scana Corporation by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,235 shares of the utilities provider’s stock valued at $145,000 after buying an additional 13 shares during the period. Gateway Investment Advisers LLC raised its position in Scana Corporation by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 9,669 shares of the utilities provider’s stock valued at $648,000 after buying an additional 28 shares during the period. Cleararc Capital Inc. raised its position in Scana Corporation by 1.2% in the first quarter. Cleararc Capital Inc. now owns 3,497 shares of the utilities provider’s stock valued at $229,000 after buying an additional 42 shares during the period. Finally, Jolley Asset Management LLC raised its position in Scana Corporation by 3.2% in the first quarter. Jolley Asset Management LLC now owns 1,595 shares of the utilities provider’s stock valued at $104,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 67.55% of the company’s stock.
Scana Corporation (SCG) traded down 2.80% during trading on Friday, reaching $63.51. The company had a trading volume of 935,652 shares. Scana Corporation has a 52-week low of $60.00 and a 52-week high of $75.92. The company has a 50-day moving average price of $66.63 and a 200 day moving average price of $67.30. The stock has a market cap of $9.08 billion, a PE ratio of 15.40 and a beta of 0.25.
Scana Corporation (NYSE:SCG) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $931.67 million. Scana Corporation had a return on equity of 10.35% and a net margin of 13.93%. Scana Corporation’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. On average, analysts anticipate that Scana Corporation will post $4.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Monday, September 11th will be given a $0.6125 dividend. This represents a $2.45 annualized dividend and a dividend yield of 3.75%. Scana Corporation’s dividend payout ratio (DPR) is presently 59.22%.
A number of research firms have recently issued reports on SCG. BidaskClub raised Scana Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Zacks Investment Research lowered Scana Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Mizuho reaffirmed an “underperform” rating and set a $63.00 price objective on shares of Scana Corporation in a report on Friday, July 7th. Barclays PLC reaffirmed an “equal weight” rating and set a $67.00 price objective (down previously from $70.00) on shares of Scana Corporation in a report on Sunday, April 23rd. Finally, Gabelli lowered Scana Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Scana Corporation has an average rating of “Hold” and an average target price of $71.44.
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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