According to Zacks, “SCANA Corp. is a stable, relatively strong and regulated electric utility, supported by regional demographics and a favorable electric utility rate. Going forward, we expect modest growth to continue thanks to the utility’s improving electric margins and rate increases. We are also bullish about the steady progress of new electric generation plants and nuclear expansion projects. However, construction costs and delays could impact the timing of rate base growth, earnings, cash flow and the quality of the balance sheet. Further, SCANA’s sensitivity to changes in coal, gas, oil and other commodity prices pose as risks.”
A number of other equities analysts have also issued reports on the stock. Morgan Stanley lowered shares of Scana Corp. from an equal weight rating to an underweight rating and set a $67.00 target price on the stock. in a research report on Wednesday, June 15th. Williams Capital reiterated a buy rating on shares of Scana Corp. in a research report on Monday, September 12th. Finally, Mizuho upped their target price on shares of Scana Corp. from $74.00 to $84.00 and gave the stock a buy rating in a research report on Tuesday, June 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $71.58.
Shares of Scana Corp. (NYSE:SCG) opened at 74.06 on Tuesday. The firm has a market capitalization of $10.58 billion, a P/E ratio of 20.05 and a beta of 0.22. Scana Corp. has a 52 week low of $54.82 and a 52 week high of $76.41. The stock’s 50 day moving average price is $72.15 and its 200 day moving average price is $71.24.
Scana Corp. (NYSE:SCG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.74. The firm had revenue of $905 million for the quarter, compared to analysts’ expectations of $986.95 million. Scana Corp. had a net margin of 12.88% and a return on equity of 9.82%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, analysts predict that Scana Corp. will post $3.97 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Monday, September 12th will be issued a $0.575 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.30 annualized dividend and a yield of 3.11%. Scana Corp.’s dividend payout ratio is currently 62.16%.
Institutional investors have recently made changes to their positions in the stock. Moors & Cabot Inc. raised its position in shares of Scana Corp. by 0.3% in the second quarter. Moors & Cabot Inc. now owns 5,557 shares of the company’s stock valued at $420,000 after buying an additional 18 shares in the last quarter. Pennsylvania Trust Co raised its position in shares of Scana Corp. by 1.4% in the second quarter. Pennsylvania Trust Co now owns 2,924 shares of the company’s stock valued at $221,000 after buying an additional 40 shares in the last quarter. World Asset Management Inc raised its position in shares of Scana Corp. by 0.5% in the second quarter. World Asset Management Inc now owns 14,421 shares of the company’s stock valued at $1,091,000 after buying an additional 71 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Scana Corp. by 2.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,449 shares of the company’s stock valued at $235,000 after buying an additional 85 shares in the last quarter. Finally, Denver Investment Advisors LLC raised its position in shares of Scana Corp. by 0.7% in the second quarter. Denver Investment Advisors LLC now owns 18,795 shares of the company’s stock valued at $1,422,000 after buying an additional 132 shares in the last quarter. Institutional investors and hedge funds own 64.84% of the company’s stock.
Scana Corp. Company Profile
SCANA Corporation is a holding company. The Company, through its subsidiaries, is engaged in generation, transmission, distribution and sale of electricity, and the purchase, sale and transportation of natural gas in North Carolina and South Carolina. It operates through segments, including Electric Operations, Gas Distribution, Retail Gas Marketing, Energy Marketing and All Other.
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