Mandatum Life Insurance Co Ltd grew its position in Scana Corporation (NYSE:SCG) by 132.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,558 shares of the utilities provider’s stock after acquiring an additional 7,154 shares during the period. Mandatum Life Insurance Co Ltd’s holdings in Scana Corporation were worth $609,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of SCG. Camden National Bank raised its position in shares of Scana Corporation by 2.4% during the 3rd quarter. Camden National Bank now owns 57,063 shares of the utilities provider’s stock worth $2,767,000 after purchasing an additional 1,318 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Scana Corporation by 15.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 25,736 shares of the utilities provider’s stock worth $1,248,000 after purchasing an additional 3,397 shares during the last quarter. Rodgers Brothers Inc. acquired a new position in shares of Scana Corporation during the 3rd quarter worth about $209,000. Willingdon Wealth Management acquired a new position in shares of Scana Corporation during the 3rd quarter worth about $112,000. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of Scana Corporation by 139.2% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,682,139 shares of the utilities provider’s stock worth $130,057,000 after purchasing an additional 1,560,863 shares during the last quarter. Institutional investors and hedge funds own 68.73% of the company’s stock.
SCG has been the subject of several research analyst reports. Gabelli downgraded shares of Scana Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Guggenheim downgraded shares of Scana Corporation from a “buy” rating to a “sell” rating in a research report on Friday, July 28th. Barclays PLC upgraded shares of Scana Corporation from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $65.00 to $73.00 in a research report on Tuesday, August 1st. Mizuho restated an “underperform” rating and set a $59.50 price target (up previously from $57.00) on shares of Scana Corporation in a research report on Tuesday, August 1st. Finally, Morgan Stanley upped their price target on shares of Scana Corporation from $58.00 to $59.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Scana Corporation presently has an average rating of “Hold” and an average price target of $61.44.
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Shares of Scana Corporation (NYSE:SCG) traded up $0.09 during midday trading on Thursday, reaching $43.49. 1,239,800 shares of the company traded hands, compared to its average volume of 1,363,901. Scana Corporation has a one year low of $41.15 and a one year high of $74.99. The stock has a market cap of $6,189.55, a PE ratio of 10.66, a PEG ratio of 2.98 and a beta of 0.21. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.77 and a current ratio of 0.88.
Scana Corporation (NYSE:SCG) last announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.01). Scana Corporation had a net margin of 10.45% and a return on equity of 10.05%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company posted $1.32 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. research analysts anticipate that Scana Corporation will post 4.17 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Tuesday, December 12th will be paid a dividend of $0.6125 per share. The ex-dividend date of this dividend is Monday, December 11th. This represents a $2.45 annualized dividend and a yield of 5.63%. Scana Corporation’s dividend payout ratio is presently 77.78%.
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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