Huntington National Bank boosted its position in shares of Scana Corporation (NYSE:SCG) by 22.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,221 shares of the utilities provider’s stock after buying an additional 1,147 shares during the period. Huntington National Bank’s holdings in Scana Corporation were worth $417,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SCG. Focused Wealth Management Inc raised its position in shares of Scana Corporation by 0.4% in the first quarter. Focused Wealth Management Inc now owns 3,182 shares of the utilities provider’s stock worth $208,000 after buying an additional 12 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Scana Corporation by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,235 shares of the utilities provider’s stock worth $145,000 after buying an additional 13 shares during the last quarter. Gateway Investment Advisers LLC raised its position in shares of Scana Corporation by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 9,669 shares of the utilities provider’s stock worth $648,000 after buying an additional 28 shares during the last quarter. Cleararc Capital Inc. raised its position in shares of Scana Corporation by 1.2% in the first quarter. Cleararc Capital Inc. now owns 3,497 shares of the utilities provider’s stock worth $229,000 after buying an additional 42 shares during the last quarter. Finally, Jolley Asset Management LLC raised its position in shares of Scana Corporation by 3.2% in the first quarter. Jolley Asset Management LLC now owns 1,595 shares of the utilities provider’s stock worth $104,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 67.56% of the company’s stock.
Scana Corporation (NYSE SCG) opened at 63.79 on Monday. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 15.46 and a beta of 0.25. The firm’s 50-day moving average price is $66.63 and its 200 day moving average price is $67.30. Scana Corporation has a 12-month low of $60.00 and a 12-month high of $75.92.
Scana Corporation (NYSE:SCG) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. Scana Corporation had a net margin of 13.99% and a return on equity of 10.55%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $931.67 million. During the same quarter in the prior year, the business posted $0.74 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. On average, analysts expect 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. Investors of record on Monday, September 11th will be issued a $0.6125 dividend. This represents a $2.45 dividend on an annualized basis and a dividend yield of 3.84%. Scana Corporation’s dividend payout ratio is presently 57.68%.
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A number of brokerages have commented on SCG. Mizuho reiterated an “underperform” rating and issued a $59.50 price objective (up from $57.00) on shares of Scana Corporation in a research report on Tuesday, August 1st. BidaskClub lowered Scana Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) upgraded Scana Corporation from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $66.00 to $64.00 in a research report on Thursday, July 20th. Gabelli lowered Scana Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Barclays PLC upgraded Scana Corporation from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $65.00 to $73.00 in a research report on Tuesday, August 1st. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $71.44.
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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