Pinnacle Financial Partners Inc. Trims Holdings in Scana Corporation (SCG)
Pinnacle Financial Partners Inc. trimmed its stake in Scana Corporation (NYSE:SCG) by 33.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,272 shares of the utilities provider’s stock after selling 3,144 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Scana Corporation were worth $304,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. Willingdon Wealth Management acquired a new position in shares of Scana Corporation during the third quarter valued at about $112,000. WFG Advisors LP grew its holdings in shares of Scana Corporation by 60.6% during the second quarter. WFG Advisors LP now owns 1,747 shares of the utilities provider’s stock valued at $117,000 after buying an additional 659 shares during the last quarter. Fiduciary Trust Co. acquired a new position in shares of Scana Corporation during the second quarter valued at about $164,000. Pacer Advisors Inc. grew its holdings in shares of Scana Corporation by 8.3% during the second quarter. Pacer Advisors Inc. now owns 2,641 shares of the utilities provider’s stock valued at $177,000 after buying an additional 203 shares during the last quarter. Finally, BB&T Investment Services Inc. acquired a new position in shares of Scana Corporation during the second quarter valued at about $195,000. Institutional investors and hedge funds own 68.73% of the company’s stock.
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Shares of Scana Corporation (NYSE:SCG) traded up $0.73 during mid-day trading on Wednesday, reaching $43.40. 1,661,700 shares of the company’s stock traded hands, compared to its average volume of 1,364,452. The company has a market capitalization of $6,085.44, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 2.93 and a beta of 0.21. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 1.12. Scana Corporation has a twelve month low of $41.15 and a twelve month high of $74.99.
Scana Corporation (NYSE:SCG) last posted its earnings results on Thursday, October 26th. The utilities provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.01). The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Scana Corporation had a return on equity of 10.05% and a net margin of 10.45%. Scana Corporation’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 EPS. analysts expect that Scana Corporation will post 4.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Tuesday, December 12th will be paid a $0.6125 dividend. The ex-dividend date of this dividend is Monday, December 11th. This represents a $2.45 annualized dividend and a dividend yield of 5.65%. Scana Corporation’s payout ratio is 77.78%.
A number of research analysts have recently issued reports on SCG shares. Edward Jones upgraded shares of Scana Corporation from a “hold” rating to a “buy” rating in a report on Monday, November 13th. Mizuho upgraded shares of Scana Corporation from an “underperform” rating to a “neutral” rating and set a $58.50 price objective for the company in a report on Monday, August 28th. Zacks Investment Research upgraded shares of Scana Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Morgan Stanley lifted their price objective on shares of Scana Corporation from $58.00 to $59.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. Finally, Guggenheim cut shares of Scana Corporation from a “buy” rating to a “sell” rating in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $61.44.
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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