Scana Corporation (SCG) Stake Decreased by Moors & Cabot Inc.
Moors & Cabot Inc. lowered its stake in shares of Scana Corporation (NYSE:SCG) by 8.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,352 shares of the utilities provider’s stock after selling 297 shares during the quarter. Moors & Cabot Inc.’s holdings in Scana Corporation were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Jolley Asset Management LLC grew its position in shares of Scana Corporation by 25.1% during the second quarter. Jolley Asset Management LLC now owns 1,995 shares of the utilities provider’s stock worth $134,000 after buying an additional 400 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Scana Corporation by 0.6% in 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. Pacer Advisors Inc. boosted its holdings in Scana Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 2,438 shares of the utilities provider’s stock worth $159,000 after purchasing an additional 77 shares during the period. Fiduciary Trust Co. acquired a new position in Scana Corporation in the second quarter worth $164,000. Finally, Sigma Planning Corp boosted its holdings in Scana Corporation by 0.3% in 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. 66.66% of the stock is owned by institutional investors and hedge funds.
Scana Corporation (NYSE:SCG) opened at 49.85 on Friday. Scana Corporation has a 12-month low of $47.80 and a 12-month high of $74.99. The firm has a 50-day moving average of $55.31 and a 200-day moving average of $63.18. The firm has a market cap of $7.12 billion, a P/E ratio of 11.77 and a beta of 0.23.
Scana Corporation (NYSE:SCG) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Scana Corporation’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 earnings per share. On average, analysts expect that Scana Corporation will post $4.16 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Monday, September 11th were given a $0.6125 dividend. This represents a $2.45 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date was Friday, September 8th. Scana Corporation’s dividend payout ratio (DPR) is 57.92%.
A number of research firms have commented on SCG. BidaskClub raised shares of Scana Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Mizuho reaffirmed an “underperform” rating and issued a $63.00 price objective on shares of Scana Corporation in a report on Friday, July 7th. Gabelli downgraded shares of Scana Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Guggenheim downgraded shares of Scana Corporation from a “buy” rating to a “sell” rating in a report on Friday, July 28th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Scana Corporation from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $66.00 to $64.00 in a report on Thursday, July 20th. Four analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $65.06.
About Scana Corporation
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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