Prospera Financial Services Inc boosted its stake in shares of SCANA Co. (NYSE:SCG) by 11.8% during the second quarter, Holdings Channel reports. The institutional investor owned 4,169 shares of the company’s stock after buying an additional 441 shares during the period. Prospera Financial Services Inc’s holdings in SCANA were worth $315,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SCG. Cribstone Capital Management LLC purchased a new position in shares of SCANA during the second quarter valued at $102,000. Financial Architects Inc boosted its position in shares of SCANA by 438.8% in the second quarter. Financial Architects Inc now owns 2,850 shares of the company’s stock valued at $215,000 after buying an additional 2,321 shares in the last quarter. Pennsylvania Trust Co boosted its position in shares of SCANA by 1.4% in the second quarter. Pennsylvania Trust Co now owns 2,924 shares of the company’s stock valued at $221,000 after buying an additional 40 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of SCANA by 16.0% in the first quarter. Envestnet Asset Management Inc. now owns 3,427 shares of the company’s stock valued at $240,000 after buying an additional 473 shares in the last quarter. Finally, Prudential PLC purchased a new position in shares of SCANA during the first quarter valued at $267,000. 64.84% of the stock is owned by institutional investors and hedge funds.
Shares of SCANA Co. (NYSE:SCG) traded up 0.62% during midday trading on Friday, reaching $74.99. The company had a trading volume of 1,016,483 shares. The company’s 50-day moving average is $72.05 and its 200-day moving average is $71.06. SCANA Co. has a 52-week low of $53.83 and a 52-week high of $76.41. The firm has a market cap of $10.72 billion, a P/E ratio of 20.30 and a beta of 0.22.
SCANA (NYSE:SCG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.74. SCANA had a return on equity of 9.82% and a net margin of 12.88%. The firm earned $905 million during the quarter, compared to the consensus estimate of $986.95 million. During the same quarter in the previous year, the company posted $0.69 EPS. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. Equities research analysts expect that SCANA Co. will post $3.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Monday, September 12th will be given a $0.575 dividend. The ex-dividend date is Thursday, September 8th. This represents a $2.30 annualized dividend and a yield of 3.07%. SCANA’s payout ratio is 62.16%.
Several research analysts recently weighed in on the company. Williams Capital reaffirmed a “buy” rating on shares of SCANA in a research note on Monday, September 12th. Mizuho raised their target price on SCANA from $74.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, June 14th. Zacks Investment Research raised SCANA from a “sell” rating to a “hold” rating in a research note on Monday, June 13th. Finally, Morgan Stanley cut SCANA from an “equal weight” rating to an “underweight” rating and set a $67.00 target price for the company. in a research note on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. SCANA has a consensus rating of “Hold” and a consensus price target of $71.58.
SCANA Corporation is a holding company. The Company, through its subsidiaries, is engaged in generation, transmission, distribution and sale of electricity, and the purchase, sale and transportation of natural gas in North Carolina and South Carolina. It operates through segments, including Electric Operations, Gas Distribution, Retail Gas Marketing, Energy Marketing and All Other.
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