Scana Corp. (SCG) Shares Down 2.6%
Scana Corp. (NYSE:SCG)’s share price fell 2.6% during trading on Friday . The company traded as low as $70.48 and last traded at $70.58, with a volume of 570,222 shares. The stock had previously closed at $72.44.
A number of brokerages have recently commented on SCG. Zacks Investment Research upgraded Scana Corp. from a “sell” rating to a “hold” rating in a report on Monday, August 1st. 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 report on Wednesday, June 15th. Finally, Mizuho lifted their target price on Scana Corp. from $74.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Scana Corp. currently has a consensus rating of “Hold” and a consensus target price of $71.58.
The stock has a 50 day moving average price of $73.45 and a 200 day moving average price of $70.20. The firm has a market capitalization of $10.09 billion and a PE ratio of 19.10.
Scana Corp. (NYSE:SCG) last announced its earnings results on Thursday, July 28th. The company reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. During the same period in the previous year, the company earned $0.69 EPS. The firm had revenue of $905 million for the quarter, compared to analyst estimates of $986.95 million. Scana Corp.’s revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that Scana Corp. will post $3.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Monday, September 12th will be issued a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.26%.
Several institutional investors have recently made changes to their positions in SCG. Advisors Asset Management Inc. boosted its position 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 during the last quarter. Principal Financial Group Inc. boosted its position in shares of Scana Corp. by 1.1% in the fourth quarter. Principal Financial Group Inc. now owns 213,922 shares of the company’s stock worth $12,941,000 after buying an additional 2,379 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Scana Corp. by 21.1% in the fourth quarter. Bank of Montreal Can now owns 209,371 shares of the company’s stock worth $12,664,000 after buying an additional 36,450 shares during 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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