Synovus Financial Corp Has $243,000 Stake in SCANA Co. (SCG)
Synovus Financial Corp cut its position in SCANA Co. (NYSE:SCG) by 19.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,315 shares of the utilities provider’s stock after selling 1,569 shares during the period. Synovus Financial Corp’s holdings in SCANA were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in SCG. State Board of Administration of Florida Retirement System lifted its position in SCANA by 2.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 184,894 shares of the utilities provider’s stock valued at $7,191,000 after purchasing an additional 3,856 shares during the last quarter. TCW Group Inc. lifted its holdings in shares of SCANA by 10.0% in the 3rd quarter. TCW Group Inc. now owns 25,704 shares of the utilities provider’s stock worth $999,000 after acquiring an additional 2,341 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of SCANA in the 3rd quarter worth about $6,274,000. James Investment Research Inc. bought a new stake in shares of SCANA in the 3rd quarter worth about $2,330,000. Finally, Asset Advisors Investment Management LLC bought a new stake in shares of SCANA in the 3rd quarter worth about $117,000. 69.74% of the stock is owned by hedge funds and other institutional investors.
SCG has been the subject of several analyst reports. Mizuho lowered shares of SCANA from a “buy” rating to a “neutral” rating in a report on Tuesday, August 7th. Zacks Investment Research lowered shares of SCANA from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. UBS Group lowered their target price on shares of SCANA from $36.00 to $35.00 and set a “sell” rating for the company in a report on Friday, August 10th. Wolfe Research restated an “outperform” rating on shares of SCANA in a report on Thursday, September 27th. Finally, ValuEngine upgraded shares of SCANA from a “strong sell” rating to a “sell” rating in a report on Thursday, October 18th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. SCANA has an average rating of “Hold” and a consensus target price of $38.30.
SCANA (NYSE:SCG) last released its earnings results on Thursday, October 25th. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.20. The firm had revenue of $926.00 million during the quarter. SCANA had a negative net margin of 4.89% and a positive return on equity of 10.04%. Research analysts forecast that SCANA Co. will post 2.64 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Monday, December 10th will be paid a $0.1237 dividend. This represents a $0.49 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, December 7th. SCANA’s dividend payout ratio is presently 11.67%.
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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.
See Also: Outstanding Shares
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