Creative Planning raised its position in Scana Corporation (NYSE:SCG) by 7.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,935 shares of the utilities provider’s stock after buying an additional 667 shares during the period. Creative Planning’s holdings in Scana Corporation were worth $666,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in SCG. CENTRAL TRUST Co raised its stake in Scana Corporation by 5.5% in the first quarter. CENTRAL TRUST Co now owns 1,534 shares of the utilities provider’s stock worth $100,000 after buying an additional 80 shares in the last quarter. Jolley Asset Management LLC raised its stake 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 worth $104,000 after buying an additional 50 shares in the last quarter. Massmutual Trust Co. FSB ADV acquired a new stake in Scana Corporation during the first quarter worth approximately $112,000. Cribstone Capital Management LLC raised its stake in Scana Corporation by 113.7% in the first quarter. Cribstone Capital Management LLC now owns 1,842 shares of the utilities provider’s stock worth $120,000 after buying an additional 980 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in 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 in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Scana Corporation (SCG) traded down 0.18% during midday trading on Friday, reaching $60.83. 1,268,476 shares of the company’s stock traded hands. The stock has a 50 day moving average of $64.08 and a 200-day moving average of $66.68. The stock has a market cap of $8.69 billion, a P/E ratio of 14.36 and a beta of 0.25. 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $931.67 million. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. On average, equities research analysts forecast that Scana Corporation will post $4.19 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Monday, September 11th will be paid a $0.6125 dividend. This represents a $2.45 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Friday, September 8th. Scana Corporation’s dividend payout ratio (DPR) is presently 57.68%.
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Several equities analysts have recently issued reports on SCG shares. BidaskClub raised shares of Scana Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Barclays PLC reissued an “equal weight” rating and issued a $67.00 price target (down previously from $70.00) on shares of Scana Corporation in a report on Sunday, April 23rd. Gabelli lowered shares of Scana Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Goldman Sachs Group, Inc. (The) raised shares of Scana Corporation from a “sell” rating to a “neutral” rating and decreased their price target for the company from $66.00 to $64.00 in a report on Thursday, July 20th. Finally, Guggenheim cut shares of Scana Corporation from a “buy” rating to a “sell” rating in a research report on Friday, July 28th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus 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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