Capstone Asset Management Co. Increases Position in Scana Corp. (SCG)
Capstone Asset Management Co. boosted its position in shares of Scana Corp. (NYSE:SCG) by 16.5% during the third quarter, Holdings Channel reports. The firm owned 46,769 shares of the company’s stock after buying an additional 6,640 shares during the period. Capstone Asset Management Co.’s holdings in Scana Corp. were worth $3,385,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cribstone Capital Management LLC bought a new position in shares of Scana Corp. during the second quarter valued at about $102,000. Global X Management Co. LLC raised its position in shares of Scana Corp. by 186.1% in the second quarter. Global X Management Co. LLC now owns 1,456 shares of the company’s stock valued at $110,000 after buying an additional 947 shares during the period. Mizuho Asset Management Co. Ltd. raised its position in shares of Scana Corp. by 60.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,832 shares of the company’s stock valued at $139,000 after buying an additional 687 shares during the period. Pacer Advisors Inc. raised its position in shares of Scana Corp. by 10.2% in the second quarter. Pacer Advisors Inc. now owns 2,389 shares of the company’s stock valued at $181,000 after buying an additional 222 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in shares of Scana Corp. during the second quarter valued at about $200,000. Hedge funds and other institutional investors own 64.47% of the company’s stock.
Scana Corp. (NYSE:SCG) traded down 2.65% during mid-day trading on Wednesday, reaching $70.53. 956,539 shares of the company’s stock traded hands. Scana Corp. has a 12-month low of $56.50 and a 12-month high of $76.41. The stock has a market capitalization of $10.08 billion, a PE ratio of 17.72 and a beta of 0.22. The stock has a 50-day moving average price of $70.66 and a 200-day moving average price of $71.77.
Scana Corp. (NYSE:SCG) last announced its quarterly earnings data on Thursday, October 27th. The company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.27. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.36 billion. Scana Corp. had a net margin of 13.77% and a return on equity of 10.71%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $1.04 EPS. Equities research analysts expect that Scana Corp. will post $4.12 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Monday, December 12th will be given a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $2.30 annualized dividend and a dividend yield of 3.26%. Scana Corp.’s payout ratio is 57.79%.
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Several research analysts recently issued reports on SCG shares. Zacks Investment Research upgraded shares of Scana Corp. from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Wednesday, September 21st. Mizuho cut their target price on shares of Scana Corp. from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Guggenheim started coverage on shares of Scana Corp. in a research report on Thursday, November 3rd. They issued a “buy” rating and a $78.00 target price for the company. Finally, Williams Capital reiterated a “buy” rating on shares of Scana Corp. in a research report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Scana Corp. has an average rating of “Hold” and an average price target of $73.75.
Scana Corp. Company Profile
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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