SCANA Co. (NYSE:SCG) rose 0% during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $40.10 and last traded at $39.93. Approximately 2,590,000 shares changed hands during trading, an increase of 5% from the average daily volume of 2,470,000 shares. The stock had previously closed at $39.93.
The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. SCANA had a net margin of 10.45% and a return on equity of 10.05%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 EPS.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Monday, March 12th will be given a dividend of $0.6125 per share. This represents a $2.45 annualized dividend and a dividend yield of 6.24%. The ex-dividend date of this dividend is Friday, March 9th. SCANA’s payout ratio is -295.18%.
Several analysts have commented on the stock. Edward Jones raised shares of SCANA from a “hold” rating to a “buy” rating in a research report on Monday, November 13th. Guggenheim raised shares of SCANA from a “sell” rating to a “neutral” rating in a research report on Thursday, November 16th. They noted that the move was a valuation call. ValuEngine lowered shares of SCANA from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Mizuho reissued a “hold” rating and set a $46.50 price target on shares of SCANA in a research report on Thursday, January 11th. Finally, Zacks Investment Research lowered shares of SCANA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. SCANA has a consensus rating of “Hold” and an average target price of $52.06.
Several institutional investors have recently made changes to their positions in SCG. Dimensional Fund Advisors LP raised its position in shares of SCANA by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 321,381 shares of the utilities provider’s stock valued at $21,538,000 after purchasing an additional 3,010 shares during the last quarter. Personal Capital Advisors Corp raised its position in shares of SCANA by 92.8% in the 3rd quarter. Personal Capital Advisors Corp now owns 43,132 shares of the utilities provider’s stock valued at $2,091,000 after purchasing an additional 20,756 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of SCANA by 86.2% in the 3rd quarter. Nationwide Fund Advisors now owns 193,436 shares of the utilities provider’s stock valued at $9,380,000 after purchasing an additional 89,572 shares during the last quarter. First Trust Advisors LP raised its position in shares of SCANA by 1.5% in the 3rd quarter. First Trust Advisors LP now owns 1,675,617 shares of the utilities provider’s stock valued at $81,251,000 after purchasing an additional 24,156 shares during the last quarter. Finally, Aperio Group LLC raised its position in shares of SCANA by 14.6% in the 3rd quarter. Aperio Group LLC now owns 75,638 shares of the utilities provider’s stock valued at $3,668,000 after purchasing an additional 9,642 shares during the last quarter. 64.10% of the stock is owned by hedge funds and other institutional investors.
The firm has a market cap of $5,600.00, a PE ratio of -47.34, a P/E/G ratio of 3.36 and a beta of 0.20. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.77 and a current ratio of 0.88.
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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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