Texas Permanent School Fund lowered its holdings in SCANA Co. (NYSE:SCG) by 8.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,018 shares of the utilities provider’s stock after selling 2,788 shares during the quarter. Texas Permanent School Fund’s holdings in SCANA were worth $1,245,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Whittier Trust Co. raised its position in SCANA by 53.4% in 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. Aviva PLC raised its position in SCANA by 2.1% in the second quarter. Aviva PLC now owns 69,512 shares of the utilities provider’s stock valued at $2,678,000 after purchasing an additional 1,399 shares during the period. Public Employees Retirement System of Ohio raised its position in SCANA by 2.7% in the second quarter. Public Employees Retirement System of Ohio now owns 58,113 shares of the utilities provider’s stock valued at $2,239,000 after purchasing an additional 1,514 shares during the period. Nissay Asset Management Corp Japan ADV raised its position in SCANA by 13.4% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 13,772 shares of the utilities provider’s stock valued at $530,000 after purchasing an additional 1,632 shares during the period. Finally, People s United Financial Inc. purchased a new stake in SCANA in the second quarter valued at $13,802,000. Institutional investors own 69.74% of the company’s stock.
SCG stock opened at $40.18 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 2.24. The firm has a market capitalization of $5.80 billion, a P/E ratio of 12.21, a PEG ratio of 6.15 and a beta of 0.05. SCANA Co. has a 12-month low of $33.61 and a 12-month high of $49.40.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Monday, December 10th will be issued a $0.1237 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $0.49 annualized dividend and a dividend yield of 1.23%. SCANA’s dividend payout ratio is presently 11.67%.
SCG has been the topic of a number of research analyst reports. Mizuho downgraded SCANA from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 7th. Zacks Investment Research downgraded SCANA from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. UBS Group cut their price objective on SCANA from $36.00 to $35.00 and set a “sell” rating on the stock in a report on Friday, August 10th. Wolfe Research reiterated an “outperform” rating on shares of SCANA in a report on Thursday, September 27th. Finally, ValuEngine upgraded SCANA from a “strong sell” rating to a “sell” rating in a report on Thursday, October 18th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.30.
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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.
Further Reading: Cost of Capital
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