Scana Corporation (SCG) Hits New 12-Month Low at $59.00
Scana Corporation (NYSE:SCG) hit a new 52-week low during trading on Friday . The stock traded as low as $59.00 and last traded at $59.03, with a volume of 320,019 shares trading hands. The stock had previously closed at $58.97.
Several equities research analysts recently commented on the company. Zacks Investment Research upgraded Scana Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday. Mizuho upgraded Scana Corporation from an “underperform” rating to a “neutral” rating and set a $58.50 target price on the stock in a research report on Monday, August 28th. Morgan Stanley upped their target price on Scana Corporation from $58.00 to $59.00 and gave the company an “underweight” rating in a research report on Thursday, August 10th. Barclays PLC upgraded Scana Corporation from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $65.00 to $73.00 in a research report on Tuesday, August 1st. Finally, Guggenheim lowered Scana Corporation from a “buy” rating to a “sell” rating in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $70.31.
The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 13.98 and a beta of 0.27. The stock has a 50-day moving average of $62.32 and a 200 day moving average of $65.87.
Scana Corporation (NYSE:SCG) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $931.67 million. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. Equities research analysts expect that Scana Corporation will post $4.17 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Monday, September 11th will be given a dividend of $0.6125 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.45 annualized dividend and a yield of 4.11%. Scana Corporation’s payout ratio is 57.68%.
A number of institutional investors have recently bought and sold shares of SCG. BlackRock Inc. boosted its position in Scana Corporation by 3,558.5% during the 1st quarter. BlackRock Inc. now owns 12,263,023 shares of the utilities provider’s stock valued at $801,389,000 after acquiring an additional 11,927,826 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in Scana Corporation during the 1st quarter valued at approximately $91,844,000. Janus Henderson Group PLC boosted its position in Scana Corporation by 6,220.2% during the 2nd quarter. Janus Henderson Group PLC now owns 1,250,396 shares of the utilities provider’s stock valued at $83,789,000 after acquiring an additional 1,230,612 shares in the last quarter. LSV Asset Management boosted its position in Scana Corporation by 833.9% during the 2nd quarter. LSV Asset Management now owns 1,241,196 shares of the utilities provider’s stock valued at $83,172,000 after acquiring an additional 1,108,296 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Scana Corporation by 1,365.8% during the 2nd quarter. Nordea Investment Management AB now owns 1,100,102 shares of the utilities provider’s stock valued at $73,718,000 after acquiring an additional 1,025,052 shares in the last quarter. 66.70% of the stock is currently owned by institutional investors and hedge funds.
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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