Sei Investments Co. increased its position in shares of SCANA Co. (NYSE:SCG) by 42.4% during the first quarter, Holdings Channel reports. The fund owned 10,145 shares of the utilities provider’s stock after buying an additional 3,022 shares during the quarter. Sei Investments Co.’s holdings in SCANA were worth $382,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in SCANA during the 1st quarter worth $137,000. Cetera Advisor Networks LLC bought a new stake in SCANA during the 1st quarter worth $202,000. Redwood Investment Management LLC bought a new stake in SCANA during the 1st quarter worth $216,000. Advisor Partners LLC bought a new stake in SCANA during the 1st quarter worth $224,000. Finally, Commerce Bank grew its position in SCANA by 25.6% during the 1st quarter. Commerce Bank now owns 7,825 shares of the utilities provider’s stock worth $294,000 after acquiring an additional 1,595 shares during the last quarter. Institutional investors and hedge funds own 67.80% of the company’s stock.
SCG has been the topic of a number of research reports. Zacks Investment Research upgraded SCANA from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Tuesday, May 22nd. Mizuho upgraded SCANA from a “neutral” rating to a “buy” rating in a research report on Friday, June 29th. Williams Capital upgraded SCANA from a “sell” rating to a “hold” rating and set a $33.50 price objective on the stock in a research report on Thursday, April 26th. Finally, ValuEngine lowered SCANA from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. SCANA has a consensus rating of “Hold” and an average price target of $47.28.
SCANA opened at $40.36 on Wednesday, according to Marketbeat.com. SCANA Co. has a 12 month low of $33.61 and a 12 month high of $68.35. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 3.39 and a beta of 0.20. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.66 and a current ratio of 0.82.
SCANA (NYSE:SCG) last released its quarterly earnings results on Thursday, April 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.01). SCANA had a negative net margin of 2.74% and a positive return on equity of 10.80%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the firm posted $1.19 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. equities research analysts expect that SCANA Co. will post 3.25 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 18th. Shareholders of record on Tuesday, July 10th will be given a $0.1237 dividend. The ex-dividend date is Monday, July 9th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 1.23%. SCANA’s dividend payout ratio (DPR) is presently 58.33%.
SCANA Company Profile
SCANA Corporation, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity to retail and wholesale customers in the United States. The company owns nuclear, coal, hydro, natural gas, oil, biomass, and solar generating facilities. It also purchases, sells, and transports natural gas; and offers energy-related services.
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