Principal Financial Group Inc. Has $14.56 Million Holdings in Scana Corporation (SCG)
Principal Financial Group Inc. decreased its holdings in shares of Scana Corporation (NYSE:SCG) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 217,339 shares of the utilities provider’s stock after selling 3,944 shares during the period. Principal Financial Group Inc. owned about 0.15% of Scana Corporation worth $14,564,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sigma Planning Corp lifted its stake in Scana Corporation by 0.3% during the second quarter. Sigma Planning Corp now owns 3,266 shares of the utilities provider’s stock worth $219,000 after purchasing an additional 10 shares during the period. Focused Wealth Management Inc lifted its stake in Scana Corporation by 0.4% during the first quarter. Focused Wealth Management Inc now owns 3,182 shares of the utilities provider’s stock worth $208,000 after purchasing an additional 12 shares during the period. Parallel Advisors LLC lifted its stake in Scana Corporation by 0.6% during the first quarter. Parallel Advisors LLC now owns 2,235 shares of the utilities provider’s stock worth $145,000 after purchasing an additional 13 shares during the period. ING Groep NV lifted its stake in Scana Corporation by 0.4% during the second quarter. ING Groep NV now owns 7,320 shares of the utilities provider’s stock worth $491,000 after purchasing an additional 26 shares during the period. Finally, Gateway Investment Advisers LLC lifted its stake in Scana Corporation by 0.3% during the second quarter. Gateway Investment Advisers LLC now owns 9,669 shares of the utilities provider’s stock worth $648,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 66.66% of the company’s stock.
Scana Corporation (NYSE SCG) opened at 58.21 on Wednesday. The stock has a 50 day moving average of $61.10 and a 200-day moving average of $65.28. Scana Corporation has a 1-year low of $58.00 and a 1-year high of $75.92. The company has a market cap of $8.32 billion, a PE ratio of 13.74 and a beta of 0.27.
Scana Corporation (NYSE:SCG) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $931.67 million. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. On average, equities research analysts predict that Scana Corporation will post $4.19 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Monday, September 11th will be given a dividend of $0.6125 per share. The ex-dividend date is Friday, September 8th. This represents a $2.45 annualized dividend and a dividend yield of 4.21%. Scana Corporation’s dividend payout ratio is 57.92%.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Scana Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Mizuho reiterated an “underperform” rating and issued a $59.50 target price (up previously from $57.00) on shares of Scana Corporation in a research note on Tuesday, August 1st. Barclays PLC upgraded shares of Scana Corporation from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $65.00 to $73.00 in a research note on Tuesday, August 1st. Guggenheim cut shares of Scana Corporation from a “buy” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Morgan Stanley lifted their target price on shares of Scana Corporation from $58.00 to $59.00 and gave the company an “underweight” rating in a research note on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $70.28.
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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