Synovus Financial Corp Cuts Holdings in SCANA Co. (SCG)

Share on StockTwits

Synovus Financial Corp decreased its holdings in shares of SCANA Co. (NYSE:SCG) by 19.9% during the third quarter, HoldingsChannel.com reports. The firm 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 SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew 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 worth $68,652,000 after buying an additional 1,180,784 shares during the last quarter. WBI Investments Inc. grew its position in shares of SCANA by 1,023.7% in the 2nd quarter. WBI Investments Inc. now owns 524,435 shares of the utilities provider’s stock worth $20,201,000 after buying an additional 477,765 shares during the last quarter. BlackRock Inc. grew its position in shares of SCANA by 3.7% in the 2nd quarter. BlackRock Inc. now owns 12,493,290 shares of the utilities provider’s stock worth $481,241,000 after buying an additional 442,473 shares during the last quarter. Great West Life Assurance Co. Can grew 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 worth $17,823,000 after buying an additional 348,548 shares during the last quarter. Finally, Howard Capital Management Inc. purchased a new position in shares of SCANA in the 2nd quarter worth approximately $10,858,000. 69.74% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on the stock. ValuEngine raised shares of SCANA from a “strong sell” rating to a “sell” rating in a research report on Monday, October 29th. Zacks Investment Research downgraded shares of SCANA from a “hold” rating to a “sell” rating in a research report on Thursday, October 25th. Mizuho raised shares of SCANA from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 9th. UBS Group raised shares of SCANA from a “sell” rating to a “neutral” rating in a research report on Friday, September 28th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of SCANA in a research report on Thursday, September 27th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $38.30.

SCG stock opened at $40.18 on Friday. The company has a market capitalization of $5.80 billion, a P/E ratio of 9.57, a P/E/G ratio of 6.15 and a beta of 0.05. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 2.24. SCANA Co. has a 52 week low of $33.61 and a 52 week high of $49.40.

SCANA (NYSE:SCG) last released its earnings results on Thursday, October 25th. The utilities provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.20. The company 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%. As a group, equities research analysts forecast that SCANA Co. will post 2.64 EPS for the current fiscal year.

The business also recently announced 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 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, December 7th. SCANA’s dividend payout ratio (DPR) is presently 11.67%.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by Week Herald and is the sole property of of Week Herald. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://weekherald.com/2018/11/10/synovus-financial-corp-cuts-holdings-in-scana-co-scg.html.

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.

See Also: Can individual investors take part in an IPO?

Want to see what other hedge funds are holding SCG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SCANA Co. (NYSE:SCG).

Institutional Ownership by Quarter for SCANA (NYSE:SCG)

Receive News & Ratings for SCANA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SCANA and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply