SCANA Corp. Receives Neutral Rating from Zacks (SCG)
SCANA Corp. (NYSE:SCG)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Monday, Analyst Ratings News reports. They currently have a $52.00 target price on the stock. Zacks‘ price objective suggests a potential upside of 4.84% from the company’s current price.
Zacks‘ analyst wrote, “SCANA Corporation reported weak fourth-quarter earnings that missed the Zacks Consensus Estimate. 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. The company is a stable, relatively strong and regulated electric utility, supported by regional demographics and a favorable electric utility rate. However, we remain on the sidelines considering the company’s sensitivity to changes in coal, gas, oil and other commodity prices. Construction costs and delays could impact the timing of rate base growth, earnings, cash flow and the quality of the balance sheet. Considering this, we expect the stock to perform on par with the broader industry. “
SCG has been the subject of a number of other recent research reports. Analysts at UBS AG reiterated a “neutral” rating on shares of SCANA Corp. in a research note on Friday. They now have a $50.00 price target on the stock. Separately, analysts at Barclays cut their price target on shares of SCANA Corp. from $52.00 to $48.00 in a research note on Monday, January 6th. They now have an “equal weight” rating on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of SCANA Corp. in a research note on Monday, December 9th. They set an “equal weight” rating on the stock. Ten research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $50.38.
Shares of SCANA Corp. (NYSE:SCG) traded up 0.54% during mid-day trading on Monday, hitting $49.87. 374,790 shares of the company’s stock traded hands. SCANA Corp. has a 1-year low of $44.75 and a 1-year high of $54.41. The stock has a 50-day moving average of $46.95 and a 200-day moving average of $47.16. The company has a P/E ratio of 14.63.
SCANA Corp. (NYSE:SCG) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.73 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.50. The company had revenue of $1.12 million for the quarter, compared to the consensus estimate of $1.12 million. On average, analysts predict that SCANA Corp. will post $3.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from SCANA Corp.’s previous quarterly dividend of $0.51.
SCANA Corporation is a holding company. The Company, through its wholly owned regulated subsidiaries, is primarily engaged in the generation, transmission, distribution and sale of electricity in parts of South Carolina and in the purchase, transmission and sale of natural gas in portions of North Carolina and South Carolina.
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