SCANA Co. (SCG) Stake Cut by Edmp Inc.
Edmp Inc. lowered its position in SCANA Co. (NYSE:SCG) by 1.1% during the first quarter, Holdings Channel reports. The firm owned 45,170 shares of the utilities provider’s stock after selling 510 shares during the period. SCANA makes up 2.7% of Edmp Inc.’s holdings, making the stock its 15th largest position. Edmp Inc.’s holdings in SCANA were worth $2,952,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. CENTRAL TRUST Co boosted its stake in SCANA by 5.5% in the first quarter. CENTRAL TRUST Co now owns 1,534 shares of the utilities provider’s stock valued at $100,000 after buying an additional 80 shares during the last quarter. Sowell Financial Services LLC bought a new stake in SCANA during the fourth quarter valued at $120,000. Cribstone Capital Management LLC boosted its stake in SCANA by 113.7% in the first quarter. Cribstone Capital Management LLC now owns 1,842 shares of the utilities provider’s stock valued at $120,000 after buying an additional 980 shares during the last quarter. Pinnacle Bank bought a new stake in SCANA during the first quarter valued at $161,000. Finally, Parallel Advisors LLC bought a new stake in SCANA during the fourth quarter valued at $163,000. Institutional investors and hedge funds own 65.18% of the company’s stock.
Shares of SCANA Co. (NYSE:SCG) traded up 0.44% on Tuesday, hitting $66.59. 391,947 shares of the stock traded hands. The stock has a 50 day moving average of $67.29 and a 200-day moving average of $69.91. The stock has a market cap of $9.52 billion, a PE ratio of 16.01 and a beta of 0.21. SCANA Co. has a 1-year low of $64.20 and a 1-year high of $76.41.
SCANA (NYSE:SCG) last announced its earnings results on Thursday, February 16th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by $0.05. The business earned $1.06 billion during the quarter, compared to the consensus estimate of $1.29 billion. SCANA had a net margin of 13.77% and a return on equity of 10.71%. During the same period in the previous year, the firm posted $0.69 EPS. On average, equities research analysts expect that SCANA Co. will post $4.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, April 1st. Stockholders of record on Friday, March 10th were given a $0.6125 dividend. This represents a $2.45 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Wednesday, March 8th. This is a boost from SCANA’s previous quarterly dividend of $0.58. SCANA’s payout ratio is presently 57.79%.
Several equities research analysts have weighed in on the stock. Barclays PLC restated a “hold” rating and issued a $70.00 price objective on shares of SCANA in a research report on Sunday, February 19th. Zacks Investment Research cut shares of SCANA from a “hold” rating to a “sell” rating in a research report on Wednesday, January 11th. Mizuho cut shares of SCANA from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $80.00 to $68.00 in a research report on Tuesday, February 14th. Finally, Macquarie cut shares of SCANA from an “outperform” rating to a “neutral” rating and set a $75.00 price objective for the company. in a research report on Tuesday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. SCANA currently has an average rating of “Hold” and a consensus target price of $72.67.
SCANA Company Profile
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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