Lord Abbett & CO. LLC Reduces Position in Scana Corporation (SCG)

Lord Abbett & CO. LLC lowered its stake in Scana Corporation (NYSE:SCG) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 919,995 shares of the utilities provider’s stock after selling 9,100 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.64% of Scana Corporation worth $61,649,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Federated Investors Inc. PA boosted its stake in Scana Corporation by 264,341.0% in the 2nd quarter. Federated Investors Inc. PA now owns 161,309 shares of the utilities provider’s stock worth $10,809,000 after purchasing an additional 161,248 shares during the period. Aberdeen Asset Management PLC UK boosted its stake in Scana Corporation by 23.2% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 48,016 shares of the utilities provider’s stock worth $3,218,000 after purchasing an additional 9,028 shares during the period. American Century Companies Inc. boosted its stake in Scana Corporation by 22.6% in the 2nd quarter. American Century Companies Inc. now owns 234,866 shares of the utilities provider’s stock worth $15,738,000 after purchasing an additional 43,225 shares during the period. BlueCrest Capital Management Ltd boosted its stake in Scana Corporation by 331.7% in the 1st quarter. BlueCrest Capital Management Ltd now owns 18,260 shares of the utilities provider’s stock worth $1,193,000 after purchasing an additional 14,030 shares during the period. Finally, Tandem Investment Advisors Inc. boosted its stake in Scana Corporation by 4.8% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 70,569 shares of the utilities provider’s stock worth $4,729,000 after purchasing an additional 3,222 shares during the period. Institutional investors and hedge funds own 66.76% of the company’s stock.

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Scana Corporation (SCG) traded down 3.91% during mid-day trading on Friday, hitting $45.96. The company’s stock had a trading volume of 1,026,151 shares. The company’s 50 day moving average is $52.90 and its 200-day moving average is $62.17. The stock has a market cap of $6.57 billion, a P/E ratio of 10.85 and a beta of 0.23. Scana Corporation has a 52-week low of $45.36 and a 52-week high of $74.99.

Scana Corporation (NYSE:SCG) last released its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $1.32 EPS. On average, equities analysts predict that Scana Corporation will post $4.18 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Tuesday, December 12th will be paid a $0.6125 dividend. This represents a $2.45 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend is Monday, December 11th. Scana Corporation’s dividend payout ratio (DPR) is 57.92%.

SCG has been the subject of several analyst reports. Morgan Stanley cut their target price on Scana Corporation from $70.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday, July 11th. Williams Capital cut their target price on Scana Corporation from $70.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, September 27th. BidaskClub downgraded Scana Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) upgraded Scana Corporation from a “sell” rating to a “neutral” rating and cut their target price for the stock from $66.00 to $64.00 in a research note on Thursday, July 20th. Finally, Mizuho restated an “underperform” rating and issued a $63.00 target price on shares of Scana Corporation in a research note on Friday, July 7th. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $63.28.

Scana Corporation 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.

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

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