Dynamic Capital Management Ltd Invests $1.31 Million in Scana Corporation (SCG)
Dynamic Capital Management Ltd acquired a new stake in shares of Scana Corporation (NYSE:SCG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,052 shares of the utilities provider’s stock, valued at approximately $1,310,000.
A number of other institutional investors also recently modified their holdings of the stock. GLG LLC boosted its stake in Scana Corporation by 6.8% in the fourth quarter. GLG LLC now owns 7,420 shares of the utilities provider’s stock worth $544,000 after buying an additional 472 shares during the last quarter. Franklin Resources Inc. boosted its stake in Scana Corporation by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 8,753 shares of the utilities provider’s stock worth $641,000 after buying an additional 385 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Scana Corporation by 21.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 9,806 shares of the utilities provider’s stock worth $719,000 after buying an additional 1,728 shares during the last quarter. Tyers Asset Management LLC acquired a new stake in Scana Corporation during the fourth quarter worth approximately $714,000. Finally, Renaissance Technologies LLC boosted its stake in Scana Corporation by 119.3% in the fourth quarter. Renaissance Technologies LLC now owns 533,000 shares of the utilities provider’s stock worth $39,058,000 after buying an additional 290,000 shares during the last quarter. Institutional investors and hedge funds own 69.30% of the company’s stock.
Scana Corporation (SCG) traded down 1.34% on Wednesday, reaching $70.14. The company’s stock had a trading volume of 245,556 shares. The stock has a 50-day moving average of $67.27 and a 200-day moving average of $68.77. The stock has a market cap of $10.02 billion, a P/E ratio of 17.00 and a beta of 0.26. Scana Corporation has a one year low of $64.20 and a one year high of $76.41.
Scana Corporation (NYSE:SCG) last posted its quarterly earnings data on Thursday, April 27th. The utilities provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.37 by $0.18. Scana Corporation had a return on equity of 10.35% and a net margin of 13.93%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business earned $1.23 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts predict that Scana Corporation will post $4.20 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Monday, June 12th will be paid a $0.6125 dividend. This represents a $2.45 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Thursday, June 8th. Scana Corporation’s dividend payout ratio (DPR) is currently 59.22%.
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A number of research firms have recently commented on SCG. BidaskClub upgraded Scana Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research lowered Scana Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $67.00 price objective (down previously from $70.00) on shares of Scana Corporation in a report on Sunday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Scana Corporation presently has a consensus rating of “Hold” and a consensus target price of $73.20.
In other news, VP Martin K. Phalen sold 42,023 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $65.49, for a total value of $2,752,086.27. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.37% of the stock is owned by company insiders.
Scana Corporation 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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