Investors sold shares of Scana Corporation (NYSE:SCG) on strength during trading hours on Tuesday. $62.08 million flowed into the stock on the tick-up and $94.34 million flowed out of the stock on the tick-down, for a money net flow of $32.26 million out of the stock. Of all companies tracked, Scana Corporation had the 0th highest net out-flow for the day. Scana Corporation traded up $3.19 for the day and closed at $67.56
A number of analysts have commented on SCG shares. Zacks Investment Research downgraded shares of Scana Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) upgraded shares of Scana Corporation from a “sell” rating to a “neutral” rating and cut their price objective for the company from $66.00 to $64.00 in a report on Thursday, July 20th. Mizuho reiterated an “underperform” rating and issued a $63.00 price objective on shares of Scana Corporation in a report on Friday, July 7th. BidaskClub upgraded shares of Scana Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Finally, Guggenheim downgraded shares of Scana Corporation from a “buy” rating to a “sell” rating in a report on Friday, July 28th. Five analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Scana Corporation presently has an average rating of “Hold” and an average target price of $70.44.
The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 14.36 and a beta of 0.25. The stock has a 50 day moving average price of $64.08 and a 200 day moving average price of $66.68.
Scana Corporation (NYSE:SCG) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.11. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $931.67 million. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. Analysts forecast that Scana Corporation will post $4.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Monday, September 11th will be paid a $0.6125 dividend. The ex-dividend date is Friday, September 8th. This represents a $2.45 annualized dividend and a dividend yield of 4.03%. Scana Corporation’s dividend payout ratio (DPR) is presently 57.68%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Scana Corporation by 2.3% in the second quarter. Vanguard Group Inc. now owns 13,887,779 shares of the utilities provider’s stock valued at $930,620,000 after buying an additional 316,210 shares during the period. BlackRock Inc. increased its position in shares of Scana Corporation by 3,558.5% in the first quarter. BlackRock Inc. now owns 12,263,023 shares of the utilities provider’s stock valued at $801,389,000 after buying an additional 11,927,826 shares during the period. Artisan Partners Limited Partnership increased its position in shares of Scana Corporation by 27.7% in the second quarter. Artisan Partners Limited Partnership now owns 1,794,850 shares of the utilities provider’s stock valued at $120,273,000 after buying an additional 389,431 shares during the period. First Trust Advisors LP increased its position in shares of Scana Corporation by 106.6% in the second quarter. First Trust Advisors LP now owns 1,651,461 shares of the utilities provider’s stock valued at $110,664,000 after buying an additional 852,243 shares during the period. Finally, Morgan Stanley increased its position in shares of Scana Corporation by 127.7% in the first quarter. Morgan Stanley now owns 1,473,057 shares of the utilities provider’s stock valued at $96,264,000 after buying an additional 826,008 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.
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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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