Covalis Capital LLP Acquires New Position in SCANA Co. (SCG)

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Covalis Capital LLP acquired a new stake in shares of SCANA Co. (NYSE:SCG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,365 shares of the utilities provider’s stock, valued at approximately $245,000. SCANA accounts for about 0.1% of Covalis Capital LLP’s investment portfolio, making the stock its 29th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. People s United Financial Inc. purchased a new stake in shares of SCANA during the second quarter valued at approximately $13,802,000. Pinebridge Investments L.P. boosted its stake 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 valued at $134,000 after purchasing an additional 2,492 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of SCANA during the first quarter valued at approximately $137,000. Whittier Trust Co. boosted its stake 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 valued at $206,000 after purchasing an additional 1,335 shares during the period. Finally, IFM Investors Pty Ltd purchased a new stake in shares of SCANA during the second quarter valued at approximately $200,000. 69.87% of the stock is owned by hedge funds and other institutional investors.

Shares of SCANA stock opened at $37.36 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.76 and a debt-to-equity ratio of 1.14. The company has a market cap of $5.47 billion, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 3.39 and a beta of 0.10. SCANA Co. has a 52 week low of $33.61 and a 52 week high of $60.59.

SCANA (NYSE:SCG) last announced its earnings results on Thursday, August 2nd. The utilities provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.08. The company had revenue of $843.00 million during the quarter, compared to the consensus estimate of $858.45 million. SCANA had a positive return on equity of 10.57% and a negative net margin of 5.50%. The firm’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. equities analysts predict that SCANA Co. will post 3.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Monday, September 10th will be issued a dividend of $0.1237 per share. The ex-dividend date is Friday, September 7th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 1.32%. SCANA’s dividend payout ratio is presently 11.67%.

SCG has been the subject of a number of analyst reports. Zacks Investment Research lowered SCANA from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Mizuho lowered SCANA from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 7th. Williams Capital lowered SCANA from a “hold” rating to a “sell” rating and set a $30.00 price objective for the company. in a research note on Tuesday, May 29th. Finally, UBS Group dropped their price objective on SCANA from $36.00 to $35.00 and set a “sell” rating for the company in a research note on Friday, August 10th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. SCANA presently has an average rating of “Hold” and an average price target of $40.79.

SCANA 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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Institutional Ownership by Quarter for SCANA (NYSE:SCG)

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