Murphy Capital Management Inc. decreased its position in shares of Scana Corporation (NYSE:SCG) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,104 shares of the utilities provider’s stock after selling 150 shares during the period. Murphy Capital Management Inc.’s holdings in Scana Corporation were worth $275,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. BB&T Corp increased its position in shares of Scana Corporation by 14.7% in the second quarter. BB&T Corp now owns 21,227 shares of the utilities provider’s stock worth $1,422,000 after buying an additional 2,722 shares in the last quarter. Aperio Group LLC increased its position in shares of Scana Corporation by 15.3% in the second quarter. Aperio Group LLC now owns 65,996 shares of the utilities provider’s stock worth $4,422,000 after buying an additional 8,743 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Scana Corporation by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the utilities provider’s stock worth $596,000 after buying an additional 100 shares in the last quarter. Jolley Asset Management LLC increased its position in shares of Scana Corporation by 25.1% in the second quarter. Jolley Asset Management LLC now owns 1,995 shares of the utilities provider’s stock worth $134,000 after buying an additional 400 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Scana Corporation by 51.0% in the second quarter. Nisa Investment Advisors LLC now owns 7,400 shares of the utilities provider’s stock worth $496,000 after buying an additional 2,500 shares in the last quarter. Institutional investors own 67.56% of the company’s stock.
Scana Corporation (NYSE:SCG) opened at 60.69 on Friday. Scana Corporation has a one year low of $60.00 and a one year high of $75.92. The stock’s 50 day moving average price is $65.11 and its 200 day moving average price is $66.94. The company has a market capitalization of $8.67 billion, a P/E ratio of 14.32 and a beta of 0.25.
Scana Corporation (NYSE:SCG) last released its quarterly 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 firm had revenue of $1 billion during the quarter, compared to analyst estimates of $931.67 million. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. Equities analysts anticipate that Scana Corporation will post $4.12 EPS for the current fiscal year.
The business also recently declared 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 4.04%. The ex-dividend date is Friday, September 8th. Scana Corporation’s payout ratio is 57.68%.
A number of equities analysts recently commented on the company. Morgan Stanley upped their target price on Scana Corporation from $58.00 to $59.00 and gave the company an “underweight” rating in a report on Thursday. Mizuho restated an “underperform” rating and set a $59.50 target price (up previously from $57.00) on shares of Scana Corporation in a report on Tuesday, August 1st. Barclays PLC upgraded Scana Corporation from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $65.00 to $73.00 in a report on Tuesday, August 1st. Guggenheim downgraded Scana Corporation from a “buy” rating to a “sell” rating in a report on Friday, July 28th. Finally, Gabelli downgraded Scana Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Five equities 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. The company presently has an average rating of “Hold” and a consensus price target 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.
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