ING Groep NV Takes Position in SCANA (SCG)

ING Groep NV bought a new position in SCANA (NYSE:SCG) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,574 shares of the utilities provider’s stock, valued at approximately $547,000.

A number of other hedge funds have also recently added to or reduced their stakes in SCG. Jennison Associates LLC purchased a new stake in SCANA in the 4th quarter worth approximately $69,408,000. Rare Infrastructure Ltd boosted its holdings in shares of SCANA by 71,338.9% in the 4th quarter. Rare Infrastructure Ltd now owns 1,130,877 shares of the utilities provider’s stock valued at $44,987,000 after purchasing an additional 1,129,294 shares during the last quarter. Alps Advisors Inc. acquired a new position in shares of SCANA in the 4th quarter valued at $41,830,000. Gruss Capital Management LP acquired a new position in shares of SCANA in the 4th quarter valued at $35,006,000. Finally, Guggenheim Capital LLC boosted its holdings in shares of SCANA by 81.2% in the 4th quarter. Guggenheim Capital LLC now owns 1,407,611 shares of the utilities provider’s stock valued at $55,994,000 after purchasing an additional 630,772 shares during the last quarter. 66.71% of the stock is owned by hedge funds and other institutional investors.

SCANA opened at $34.32 on Friday, Marketbeat Ratings reports. The company has a current ratio of 0.82, a quick ratio of 0.66 and a debt-to-equity ratio of 1.12. The firm has a market cap of $4.89 billion, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 3.34 and a beta of 0.20. SCANA has a twelve month low of $33.75 and a twelve month high of $71.28.

SCANA (NYSE:SCG) last posted its earnings results on Thursday, April 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.01). The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.29 billion. SCANA had a negative net margin of 2.74% and a positive return on equity of 10.80%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. sell-side analysts forecast that SCANA will post 2.93 EPS for the current year.

SCG has been the topic of a number of research analyst reports. ValuEngine lowered shares of SCANA from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. UBS initiated coverage on shares of SCANA in a report on Friday, February 2nd. They issued a “sell” rating and a $38.00 price target on the stock. Mizuho reiterated a “hold” rating and issued a $35.50 price target on shares of SCANA in a report on Monday, April 2nd. Zacks Investment Research upgraded shares of SCANA from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 24th. Finally, Williams Capital upgraded shares of SCANA from a “sell” rating to a “hold” rating and set a $33.50 price target on the stock in a report on Thursday, April 26th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $48.63.

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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