SCANA Co. (SCG) Position Lifted by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. increased its position in shares of SCANA Co. (NYSE:SCG) by 42.9% during the 4th quarter, Holdings Channel reports. The fund owned 10,870 shares of the utilities provider’s stock after buying an additional 3,265 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in SCANA were worth $432,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC bought a new position in SCANA during the 4th quarter worth approximately $109,000. Willingdon Wealth Management bought a new position in SCANA during the 3rd quarter worth approximately $112,000. Dupont Capital Management Corp boosted its stake in SCANA by 241.1% during the 4th quarter. Dupont Capital Management Corp now owns 2,985 shares of the utilities provider’s stock worth $119,000 after acquiring an additional 2,110 shares during the last quarter. Amica Retiree Medical Trust boosted its stake in SCANA by 219.1% during the 3rd quarter. Amica Retiree Medical Trust now owns 2,693 shares of the utilities provider’s stock worth $131,000 after acquiring an additional 1,849 shares during the last quarter. Finally, Taylor Hoffman Wealth Management bought a new position in SCANA during the 4th quarter worth approximately $167,000. 75.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of SCANA Co. (SCG) opened at $39.00 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 0.88. The company has a market cap of $5,574.31, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 3.67 and a beta of 0.21. SCANA Co. has a fifty-two week low of $34.76 and a fifty-two week high of $71.28.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Monday, March 12th will be issued a $0.6125 dividend. The ex-dividend date is Friday, March 9th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 6.28%. SCANA’s dividend payout ratio (DPR) is presently -295.18%.
Several research firms recently weighed in on SCG. ValuEngine lowered shares of SCANA from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. UBS Group began coverage on shares of SCANA in a report on Friday, February 2nd. They set a “sell” rating and a $38.00 target price on the stock. Zacks Investment Research upgraded shares of SCANA from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 17th. Mizuho restated a “hold” rating and set a $46.50 target price on shares of SCANA in a report on Thursday, January 11th. Finally, Wells Fargo & Co downgraded shares of SCANA from an “outperform” rating to a “market perform” rating and set a $51.00 target price on the stock. in a report on Friday, January 5th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $52.06.
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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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