Canal Insurance CO maintained its position in Scana Corporation (NYSE:SCG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,000 shares of the utilities provider’s stock at the end of the second quarter. Canal Insurance CO’s holdings in Scana Corporation were worth $3,082,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Teachers Advisors LLC raised its position in Scana Corporation by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 164,723 shares of the utilities provider’s stock worth $12,071,000 after buying an additional 7,699 shares in the last quarter. Macquarie Group Ltd. raised its position in Scana Corporation by 7.2% in the fourth quarter. Macquarie Group Ltd. now owns 47,600 shares of the utilities provider’s stock worth $3,488,000 after buying an additional 3,200 shares in the last quarter. Gulf International Bank UK Ltd raised its position 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 worth $2,815,000 after buying an additional 1,750 shares in the last quarter. Bank of Montreal Can raised its position 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 worth $16,327,000 after buying an additional 66,638 shares in the last quarter. Finally, DnB Asset Management AS raised its position in Scana Corporation by 14.0% in the first quarter. DnB Asset Management AS now owns 29,399 shares of the utilities provider’s stock worth $1,921,000 after buying an additional 3,600 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.
Scana Corporation (NYSE SCG) opened at 60.83 on Friday. The stock’s 50 day moving average is $64.08 and its 200-day moving average is $66.68. Scana Corporation has a 52 week low of $60.00 and a 52 week high of $75.92. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 14.36 and a beta of 0.25.
Scana Corporation (NYSE:SCG) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $931.67 million. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. Scana Corporation’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $0.74 EPS. On average, equities research analysts expect that Scana Corporation will post $4.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Monday, September 11th will be given a $0.6125 dividend. The ex-dividend date is Friday, September 8th. This represents a $2.45 annualized dividend and a yield of 4.03%. Scana Corporation’s dividend payout ratio is presently 57.68%.
A number of research analysts have commented on SCG shares. Barclays PLC restated an “equal weight” rating and issued a $67.00 price objective (down from $70.00) on shares of Scana Corporation in a research note on Sunday, April 23rd. BidaskClub upgraded shares of Scana Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Mizuho restated an “underperform” rating and issued a $63.00 price objective on shares of Scana Corporation in a research note on Friday, July 7th. Morgan Stanley dropped their price objective on shares of Scana Corporation from $70.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 11th. Finally, Zacks Investment Research lowered shares of Scana Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Five 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. The stock currently has an average rating of “Hold” and an average target price of $70.44.
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.
Want to see what other hedge funds are holding SCG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scana Corporation (NYSE:SCG).
Receive News & Ratings for Scana Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scana Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
