TD Asset Management Inc. Decreases Stake in Scana Corporation (SCG)

TD Asset Management Inc. reduced its stake in Scana Corporation (NYSE:SCG) by 29.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,691 shares of the utilities provider’s stock after selling 41,582 shares during the period. TD Asset Management Inc. owned about 0.07% of Scana Corporation worth $6,680,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Scana Corporation by 3,558.5% in the first quarter. BlackRock Inc. now owns 12,263,023 shares of the utilities provider’s stock valued at $801,389,000 after buying an additional 11,927,826 shares during the period. Artisan Partners Limited Partnership bought a new position in shares of Scana Corporation during the first quarter valued at about $91,844,000. Morgan Stanley raised its position in shares of Scana Corporation by 127.7% in the first quarter. Morgan Stanley now owns 1,473,057 shares of the utilities provider’s stock valued at $96,264,000 after buying an additional 826,008 shares during the period. Vanguard Group Inc. raised its position in shares of Scana Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,571,569 shares of the utilities provider’s stock valued at $886,902,000 after buying an additional 479,888 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Scana Corporation by 65.7% in the first quarter. Renaissance Technologies LLC now owns 883,300 shares of the utilities provider’s stock valued at $57,724,000 after buying an additional 350,300 shares during the period. Institutional investors own 67.38% of the company’s stock.

Shares of Scana Corporation (SCG) opened at 60.94 on Friday. Scana Corporation has a 1-year low of $60.00 and a 1-year high of $75.92. The company has a market capitalization of $8.71 billion, a P/E ratio of 14.38 and a beta of 0.25. The firm has a 50-day moving average of $64.28 and a 200 day moving average of $66.73.

Scana Corporation (NYSE:SCG) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $931.67 million. During the same period last year, the company posted $0.74 EPS. The business’s revenue was up 10.6% on a year-over-year basis. On average, analysts anticipate that Scana Corporation will post $4.14 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Monday, September 11th will be paid a $0.6125 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.02%. Scana Corporation’s payout ratio is currently 57.68%.

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Several research analysts recently issued reports on SCG shares. Zacks Investment Research lowered shares of Scana Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) raised shares of Scana Corporation from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $66.00 to $64.00 in a research note on Thursday, July 20th. Mizuho reissued an “underperform” rating and issued a $63.00 price target on shares of Scana Corporation in a research note on Friday, July 7th. BidaskClub raised shares of Scana Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, Guggenheim downgraded shares of Scana Corporation from a “buy” rating to a “sell” rating in a research note on Friday, July 28th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Scana Corporation currently has a consensus rating of “Hold” and an average price target of $70.44.

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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Institutional Ownership by Quarter for Scana Corporation (NYSE:SCG)

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