People s United Financial Inc. purchased a new position in SCANA Co. (NYSE:SCG) in the second quarter, Holdings Channel reports. The fund purchased 1,657 shares of the utilities provider’s stock, valued at approximately $13,802,000.
Other institutional investors have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in SCANA in the first quarter worth approximately $137,000. Whittier Trust Co. lifted its position in shares of SCANA by 53.4% during the 2nd quarter. Whittier Trust Co. now owns 3,835 shares of the utilities provider’s stock worth $206,000 after buying an additional 1,335 shares during the last quarter. IFM Investors Pty Ltd purchased a new stake in shares of SCANA during the 2nd quarter worth approximately $200,000. CIBC World Markets Inc. purchased a new stake in shares of SCANA during the 2nd quarter worth approximately $203,000. Finally, Birmingham Capital Management Co. Inc. AL purchased a new stake in shares of SCANA during the 2nd quarter worth approximately $204,000. Institutional investors own 67.01% of the company’s stock.
Several analysts have recently weighed in on the stock. UBS Group reduced their price objective on shares of SCANA from $36.00 to $35.00 and set a “sell” rating for the company in a research report on Friday, August 10th. Zacks Investment Research downgraded shares of SCANA from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Mizuho downgraded shares of SCANA from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 7th. Williams Capital downgraded shares of SCANA from a “hold” rating to a “sell” rating and set a $30.00 price objective for the company. in a research report on Tuesday, May 29th. Finally, ValuEngine downgraded shares of SCANA from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $40.79.
Shares of NYSE:SCG opened at $38.50 on Friday. The company has a market cap of $5.42 billion, a PE ratio of 9.17, a P/E/G ratio of 3.62 and a beta of 0.18. The company has a quick ratio of 0.61, a current ratio of 0.76 and a debt-to-equity ratio of 1.14. SCANA Co. has a twelve month low of $33.61 and a twelve month high of $61.31.
SCANA (NYSE:SCG) last issued its quarterly earnings data on Thursday, August 2nd. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.08. The business had revenue of $843.00 million during the quarter, compared to the consensus estimate of $858.45 million. SCANA had a negative net margin of 5.50% and a positive return on equity of 10.57%. The company’s revenue was down 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS. equities research analysts forecast that SCANA Co. will post 3 EPS for the current year.
SCANA Company Profile
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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