Scana Corp. (SCG) Sees Strong Trading Volume
Scana Corp. (NYSE:SCG) shares saw unusually-strong trading volume on Wednesday . Approximately 1,953,342 shares were traded during trading, an increase of 81% from the previous session’s volume of 1,079,015 shares.The stock last traded at $76.12 and had previously closed at $76.04.
Several research analysts have commented on SCG shares. Zacks Investment Research downgraded Scana Corp. from a “hold” rating to a “sell” rating in a report on Monday, May 16th. Morgan Stanley downgraded Scana Corp. from an “equal weight” rating to an “underweight” rating and set a $67.00 target price on the stock. in a report on Wednesday, June 15th. Mizuho reaffirmed a “buy” rating and set a $74.00 target price (up from $71.00) on shares of Scana Corp. in a report on Friday, March 18th. Finally, Vetr downgraded Scana Corp. from a “buy” rating to a “hold” rating and set a $73.50 target price on the stock. in a report on Monday, April 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $68.92.
The firm has a market capitalization of $10.88 billion and a PE ratio of 20.84. The firm has a 50-day moving average of $71.34 and a 200-day moving average of $67.22.
Scana Corp. (NYSE:SCG) last released its earnings results on Thursday, April 28th. The company reported $1.23 EPS for the quarter, missing the Zacks’ consensus estimate of $1.34 by $0.11. During the same quarter in the previous year, the company posted $2.80 earnings per share. The company earned $1.17 billion during the quarter, compared to analyst estimates of $1.37 billion. The firm’s revenue was down 15.6% compared to the same quarter last year. On average, equities research analysts predict that Scana Corp. will post $3.95 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 10th were paid a $0.575 dividend. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $2.30 dividend on an annualized basis and a yield of 3.02%.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Scana Corp. by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 265,646 shares of the company’s stock worth $16,071,000 after buying an additional 15,525 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Scana Corp. by 1,797.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 20,364 shares of the company’s stock worth $1,232,000 after buying an additional 19,291 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Scana Corp. by 2.9% in the fourth quarter. Advisors Asset Management Inc. now owns 25,878 shares of the company’s stock worth $1,565,000 after buying an additional 727 shares in the last quarter. ARGI Investment Services LLC raised its stake in Scana Corp. by 0.8% in the fourth quarter. ARGI Investment Services LLC now owns 21,473 shares of the company’s stock worth $1,299,000 after buying an additional 173 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Scana Corp. by 25.3% in the fourth quarter. Victory Capital Management Inc. now owns 44,682 shares of the company’s stock worth $2,703,000 after buying an additional 9,027 shares in the last quarter.
SCANA Corporation is a holding company. The Company, through its subsidiaries, is engaged in generation, transmission, distribution and sale of electricity, and the purchase, sale and transportation of natural gas in North Carolina and South Carolina. It operates through segments, including Electric Operations, Gas Distribution, Retail Gas Marketing, Energy Marketing and All Other.
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