Scana Corporation (NYSE:SCG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, September 6th.
According to Zacks, “SCANA is well positioned in a positive regulatory environment, having a low risk business with outstanding customer growth and operational efficiency. The company also has an attractive and consistent dividend payout. This is noteworthy amidst the macro risks wherein most oil giants are cutting their dividends. However, SCANA Corp.’s price chart shows that it has lagged the industry over the last three months. Westinghouse Electric Co., which is presently constructing a nuclear plant for SCANA, has filed for bankruptcy. Although Westinghouse is anticipated to finish the construction of nuclear reactors, SCANA might face delays and a significant increase in cost. Thus, the future earnings growth of the company looks uncertain.”
A number of other equities analysts also recently commented on SCG. BidaskClub upgraded Scana Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Mizuho restated an “underperform” rating and issued a $63.00 price objective on shares of Scana Corporation in a report on Friday, July 7th. Morgan Stanley dropped their target price on Scana Corporation from $70.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) upgraded Scana Corporation from a “sell” rating to a “neutral” rating and dropped their target price for the company from $66.00 to $64.00 in a report on Thursday, July 20th. Finally, Gabelli downgraded Scana Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $70.31.
Shares of Scana Corporation (NYSE SCG) opened at 59.84 on Wednesday. The stock has a market cap of $8.55 billion, a P/E ratio of 14.12 and a beta of 0.27. The stock has a 50 day moving average of $61.35 and a 200 day moving average of $65.50. Scana Corporation has a 52 week low of $58.55 and a 52 week high of $75.92.
Scana Corporation (NYSE:SCG) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $931.67 million. During the same period last year, the company earned $0.74 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts expect that Scana Corporation will post $4.19 earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in the business. Sigma Planning Corp boosted its position in Scana Corporation by 0.3% during the 2nd quarter. Sigma Planning Corp now owns 3,266 shares of the utilities provider’s stock worth $219,000 after acquiring an additional 10 shares during the period. Focused Wealth Management Inc boosted its position in Scana Corporation by 0.4% during the 1st quarter. Focused Wealth Management Inc now owns 3,182 shares of the utilities provider’s stock worth $208,000 after acquiring an additional 12 shares during the period. Parallel Advisors LLC raised its stake in shares of Scana Corporation by 0.6% in the 1st quarter. Parallel Advisors LLC now owns 2,235 shares of the utilities provider’s stock worth $145,000 after buying an additional 13 shares in the last quarter. ING Groep NV raised its stake in shares of Scana Corporation by 0.4% in the 2nd quarter. ING Groep NV now owns 7,320 shares of the utilities provider’s stock worth $491,000 after buying an additional 26 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its stake in shares of Scana Corporation by 0.3% in the 2nd quarter. Gateway Investment Advisers LLC now owns 9,669 shares of the utilities provider’s stock worth $648,000 after buying an additional 28 shares in the last quarter. Institutional investors own 66.70% of the company’s stock.
Scana Corporation Company Profile
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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