Commonwealth Bank of Australia Acquires 101,684 Shares of SCANA Co. (SCG)

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Commonwealth Bank of Australia increased its holdings in SCANA Co. (NYSE:SCG) by 747.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 115,296 shares of the utilities provider’s stock after purchasing an additional 101,684 shares during the quarter. Commonwealth Bank of Australia’s holdings in SCANA were worth $4,435,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Stephens Inc. AR increased its position in shares of SCANA by 11.7% in the 2nd quarter. Stephens Inc. AR now owns 26,951 shares of the utilities provider’s stock valued at $1,038,000 after acquiring an additional 2,830 shares during the period. Gabelli Funds LLC increased its position in shares of SCANA by 1.0% in the 2nd quarter. Gabelli Funds LLC now owns 547,500 shares of the utilities provider’s stock valued at $21,090,000 after acquiring an additional 5,500 shares during the period. NumerixS Investment Technologies Inc increased its position in shares of SCANA by 204.6% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 6,400 shares of the utilities provider’s stock valued at $246,000 after acquiring an additional 4,299 shares during the period. FMR LLC increased its position in shares of SCANA by 196.3% in the 2nd quarter. FMR LLC now owns 1,782,223 shares of the utilities provider’s stock valued at $68,652,000 after acquiring an additional 1,180,784 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in shares of SCANA by 307.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 462,076 shares of the utilities provider’s stock valued at $17,823,000 after acquiring an additional 348,548 shares during the period. 69.86% of the stock is owned by institutional investors.

NYSE:SCG opened at $36.68 on Friday. SCANA Co. has a one year low of $33.61 and a one year high of $60.24. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.61 and a current ratio of 0.76. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 3.39 and a beta of 0.10.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Monday, September 10th will be issued a $0.1237 dividend. This represents a $0.49 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, September 7th. SCANA’s payout ratio is 11.67%.

SCG has been the topic of several research reports. Zacks Investment Research raised SCANA from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, May 30th. Mizuho raised SCANA from a “neutral” rating to a “buy” rating in a research report on Friday, June 29th. UBS Group cut their target price on SCANA from $36.00 to $35.00 and set a “sell” rating on the stock in a research report on Friday, August 10th. Finally, Williams Capital downgraded SCANA from a “hold” rating to a “sell” rating and set a $30.00 target price on the stock. in a research report on Tuesday, May 29th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price 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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