Investors Sell Shares of Scana Corp. (SCG) on Strength (SCG)
Traders sold shares of Scana Corp. (NYSE:SCG) on strength during trading on Wednesday. $15.36 million flowed into the stock on the tick-up and $60.32 million flowed out of the stock on the tick-down, for a money net flow of $44.96 million out of the stock. Of all stocks tracked, Scana Corp. had the 0th highest net out-flow for the day. Scana Corp. traded up $0.08 for the day and closed at $76.12
A number of brokerages have issued reports on SCG. Morgan Stanley cut Scana Corp. from an “equal weight” rating to an “underweight” rating and set a $67.00 target price for the company. in a research report on Wednesday, June 15th. Mizuho upped their price target on Scana Corp. from $74.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. Zacks Investment Research upgraded Scana Corp. from a “sell” rating to a “hold” rating in a report on Monday, June 13th. Finally, Vetr lowered Scana Corp. from a “buy” rating to a “hold” rating and set a $73.50 price target for the company. 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 assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $68.92.
The stock has a market capitalization of $10.88 billion and a price-to-earnings ratio of 20.84. The company’s 50-day moving average price is $71.34 and its 200 day moving average price is $67.22.
Scana Corp. (NYSE:SCG) last announced its earnings results on Thursday, April 28th. The company reported $1.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.34 by $0.11. The company earned $1.17 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the company posted $2.80 earnings per share. The business’s revenue was down 15.6% compared to the same quarter last year. Equities research analysts predict that Scana Corp. will post $3.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 10th were given a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Wednesday, June 8th.
A number of large investors have recently made changes to their positions in the stock. MetLife Securities Inc raised its stake in shares of Scana Corp. by 845.2% in the fourth quarter. MetLife Securities Inc now owns 17,402 shares of the company’s stock worth $1,053,000 after buying an additional 15,561 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of 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. ARGI Investment Services LLC raised its stake in shares of 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. OppenheimerFunds Inc. raised its stake in shares of Scana Corp. by 22.1% in the fourth quarter. OppenheimerFunds Inc. now owns 24,473 shares of the company’s stock worth $1,484,000 after buying an additional 4,423 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of 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.
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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