Cim Investment Mangement Inc. Takes Position in SCANA Co. (SCG)
Cim Investment Mangement Inc. bought a new position in shares of SCANA Co. (NYSE:SCG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,331 shares of the utilities provider’s stock, valued at approximately $441,000.
Other large investors also recently bought and sold shares of the company. People s United Financial Inc. purchased a new stake in shares of SCANA during the second quarter worth $13,802,000. Polaris Greystone Financial Group LLC purchased a new stake in shares of SCANA during the third quarter worth $109,000. Asset Advisors Investment Management LLC purchased a new stake in shares of SCANA during the third quarter worth $117,000. Pinebridge Investments L.P. lifted its position in shares of SCANA by 258.2% during the second quarter. Pinebridge Investments L.P. now owns 3,457 shares of the utilities provider’s stock worth $134,000 after acquiring an additional 2,492 shares in the last quarter. Finally, Whittier Trust Co. lifted its position in shares of SCANA by 53.4% during the second quarter. Whittier Trust Co. now owns 3,835 shares of the utilities provider’s stock worth $206,000 after acquiring an additional 1,335 shares in the last quarter. Hedge funds and other institutional investors own 67.15% of the company’s stock.
Shares of SCG stock opened at $44.50 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 2.24. SCANA Co. has a 52-week low of $33.61 and a 52-week high of $49.40. The firm has a market capitalization of $6.13 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 6.50 and a beta of 0.05.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Monday, December 10th will be given a $0.1237 dividend. The ex-dividend date is Friday, December 7th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 1.11%. SCANA’s dividend payout ratio (DPR) is presently 11.67%.
SCG has been the topic of a number of recent analyst reports. Mizuho upgraded SCANA from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 9th. Zacks Investment Research upgraded SCANA from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. UBS Group lowered their price objective on SCANA from $36.00 to $35.00 and set a “sell” rating on the stock in a research report on Friday, August 10th. ValuEngine upgraded SCANA from a “strong sell” rating to a “sell” rating in a research report on Monday, October 29th. Finally, Wolfe Research reiterated an “outperform” rating on shares of SCANA in a research report on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $38.30.
SCANA Corporation, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity to retail and wholesale customers in the United States. The company owns nuclear, coal, hydro, natural gas, oil, biomass, and solar generating facilities. It also purchases, sells, and transports natural gas; and offers energy-related services.
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