Edmp Inc. Trims Holdings in SCANA Co. (SCG)
Edmp Inc. lowered its position in SCANA Co. (NYSE:SCG) by 8.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 41,073 shares of the utilities provider’s stock after selling 3,799 shares during the period. SCANA comprises approximately 1.5% of Edmp Inc.’s holdings, making the stock its 27th largest position. Edmp Inc.’s holdings in SCANA were worth $1,809,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in SCANA 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 last quarter. Thompson Siegel & Walmsley LLC lifted its stake in SCANA by 139.2% in the third quarter. Thompson Siegel & Walmsley LLC now owns 2,682,139 shares of the utilities provider’s stock valued at $130,057,000 after buying an additional 1,560,863 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in SCANA by 67.6% in the third quarter. Bank of New York Mellon Corp now owns 2,170,207 shares of the utilities provider’s stock valued at $105,234,000 after buying an additional 875,095 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in SCANA 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 last quarter. Finally, First Trust Advisors LP lifted its stake in SCANA by 1.5% in the third quarter. First Trust Advisors LP now owns 1,675,617 shares of the utilities provider’s stock valued at $81,251,000 after buying an additional 24,156 shares during the last quarter. Institutional investors own 66.51% of the company’s stock.
A number of equities research analysts have weighed in on SCG shares. Williams Capital reduced their price objective on SCANA from $70.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, September 27th. Wells Fargo & Co lowered SCANA from an “outperform” rating to a “market perform” rating and set a $51.00 target price on the stock. in a report on Friday, January 5th. Zacks Investment Research lowered SCANA from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 2nd. Bank of America assumed coverage on SCANA in a report on Tuesday, October 24th. They issued a “neutral” rating and a $49.00 target price on the stock. Finally, Mizuho reissued a “hold” rating and issued a $46.50 target price on shares of SCANA in a report on Thursday, January 11th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. SCANA has a consensus rating of “Hold” and a consensus price target of $58.94.
SCANA (NYSE:SCG) last released its earnings results on Thursday, October 26th. The utilities provider reported $1.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.01). SCANA had a net margin of 10.45% and a return on equity of 10.05%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm posted $1.32 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. analysts expect that SCANA Co. will post 4.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Tuesday, December 12th were issued a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend was Monday, December 11th. SCANA’s dividend payout ratio is presently 77.53%.
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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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