76,791 Shares in Scana Corporation (SCG) Acquired by Cambria Investment Management L.P.
Cambria Investment Management L.P. acquired a new position in shares of Scana Corporation (NYSE:SCG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 76,791 shares of the utilities provider’s stock, valued at approximately $5,146,000. Scana Corporation comprises about 1.1% of Cambria Investment Management L.P.’s holdings, making the stock its 23rd biggest holding. Cambria Investment Management L.P. owned about 0.05% of Scana Corporation at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Castleton Investment Management LLC purchased a new position in shares of Scana Corporation during the second quarter worth about $4,123,000. AHL Partners LLP acquired a new stake in shares of Scana Corporation during the second quarter worth about $2,097,000. HighTower Advisors LLC increased its position in shares of Scana Corporation by 5.5% during the second quarter. HighTower Advisors LLC now owns 17,086 shares of the utilities provider’s stock worth $1,145,000 after purchasing an additional 888 shares in the last quarter. Balyasny Asset Management LLC increased its position in shares of Scana Corporation by 273.6% during the second quarter. Balyasny Asset Management LLC now owns 1,065,817 shares of the utilities provider’s stock worth $71,420,000 after purchasing an additional 780,564 shares in the last quarter. Finally, QS Investors LLC lifted its holdings in shares of Scana Corporation by 229.1% in the 2nd quarter. QS Investors LLC now owns 43,066 shares of the utilities provider’s stock valued at $2,886,000 after purchasing an additional 29,981 shares during the last quarter. Institutional investors and hedge funds own 66.66% of the company’s stock.
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Scana Corporation (NYSE:SCG) traded down 0.917% during trading on Wednesday, hitting $48.105. The company had a trading volume of 842,503 shares. Scana Corporation has a 12 month low of $47.80 and a 12 month high of $74.99. The company has a market cap of $6.87 billion, a PE ratio of 11.354 and a beta of 0.23. The company’s 50 day moving average price is $58.01 and its 200-day moving average price is $64.18.
Scana Corporation (NYSE:SCG) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 EPS. Equities 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 was paid on Sunday, October 1st. Shareholders of record on Monday, September 11th were issued a $0.6125 dividend. The ex-dividend date was Friday, September 8th. This represents a $2.45 dividend on an annualized basis and a yield of 5.05%. Scana Corporation’s dividend payout ratio is currently 57.92%.
A number of brokerages recently issued reports on SCG. Zacks Investment Research cut Scana Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) upgraded Scana Corporation from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $66.00 to $64.00 in a research note on Thursday, July 20th. Mizuho raised Scana Corporation from an “underperform” rating to a “neutral” rating and set a $58.50 price target on the stock in a research report on Monday, August 28th. Williams Capital cut their price target on Scana Corporation from $70.00 to $50.00 and set a “hold” rating on the stock in a research report on Wednesday, September 27th. Finally, BidaskClub raised Scana Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $68.06.
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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