Tandem Investment Advisors Inc. increased its position in shares of SCANA Co. (NYSE:SCG) by 12.1% during the first quarter, Holdings Channel reports. The institutional investor owned 67,347 shares of the utilities provider’s stock after buying an additional 7,278 shares during the period. SCANA accounts for 1.9% of Tandem Investment Advisors Inc.’s investment portfolio, making the stock its 26th largest position. Tandem Investment Advisors Inc.’s holdings in SCANA were worth $4,401,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in SCG. Mutual of America Capital Management LLC increased its position in shares of SCANA by 16.5% in the first quarter. Mutual of America Capital Management LLC now owns 18,178 shares of the utilities provider’s stock worth $1,188,000 after buying an additional 2,576 shares in the last quarter. Holderness Investments Co. bought a new position in shares of SCANA during the first quarter worth about $278,000. CIBC World Markets Inc. increased its position in shares of SCANA by 45.0% in the first quarter. CIBC World Markets Inc. now owns 32,269 shares of the utilities provider’s stock worth $2,109,000 after buying an additional 10,020 shares in the last quarter. Warren Averett Asset Management LLC bought a new position in shares of SCANA during the first quarter worth about $704,000. Finally, Toronto Dominion Bank increased its position in shares of SCANA by 56.6% in the first quarter. Toronto Dominion Bank now owns 38,487 shares of the utilities provider’s stock worth $2,514,000 after buying an additional 13,904 shares in the last quarter. Institutional investors and hedge funds own 65.18% of the company’s stock.
Shares of SCANA Co. (NYSE:SCG) traded up 0.83% on Friday, hitting $65.53. The stock had a trading volume of 3,317,904 shares. SCANA Co. has a 12-month low of $64.20 and a 12-month high of $76.41. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 15.89 and a beta of 0.21. The stock has a 50 day moving average of $65.87 and a 200 day moving average of $69.18.
SCANA (NYSE:SCG) last released its earnings results on Thursday, April 27th. The utilities provider reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by $0.18. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.26 billion. SCANA had a return on equity of 10.71% and a net margin of 13.77%. SCANA’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 EPS. Equities analysts predict that SCANA Co. will post $4.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Monday, June 12th will be given a $0.6125 dividend. This represents a $2.45 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Thursday, June 8th. SCANA’s payout ratio is currently 57.79%.
A number of research analysts have recently issued reports on the company. Barclays PLC reiterated an “equal weight” rating and issued a $67.00 price target (down from $70.00) on shares of SCANA in a report on Sunday, April 23rd. Zacks Investment Research downgraded SCANA from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Mizuho downgraded SCANA from a “buy” rating to a “neutral” rating and cut their price target for the company from $80.00 to $68.00 in a report on Tuesday, February 14th. Finally, Macquarie downgraded SCANA from an “outperform” rating to a “neutral” rating and set a $75.00 price target on the stock. in a report on Tuesday, January 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. SCANA has a consensus rating of “Hold” and an average target price of $72.17.
In other news, VP Martin K. Phalen sold 42,023 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $65.49, for a total value of $2,752,086.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is currently owned by insiders.
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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