SCANA Price Target Raised to $53.00 at Macquarie (SCG)
Investment analysts at Macquarie upped their target price on shares of SCANA (NYSE:SCG) from $51.00 to $53.00 in a note issued to investors on Tuesday. Macquarie’s price objective suggests a potential upside of 2.04% from the stock’s previous close.
SCANA (NYSE:SCG) traded down 0.92% on Tuesday, hitting $51.46. The stock had a trading volume of 192,248 shares. SCANA has a one year low of $44.75 and a one year high of $53.89. The stock’s 50-day moving average is $51.45 and its 200-day moving average is $51.25. The company has a market cap of $7.310 billion and a price-to-earnings ratio of 13.99. SCANA also was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 7,293,590 shares, an increase of 50.2% from the July 31st total of 4,855,173 shares. Based on an average trading volume of 1,098,810 shares, the days-to-cover ratio is presently 6.6 days. Currently, 5.7% of the shares of the company are sold short.
SCANA (NYSE:SCG) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $983.00 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts expect that SCANA will post $3.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders of record on Wednesday, September 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 4.04%. The ex-dividend date of this dividend is Monday, September 8th.
SCG has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of SCANA in a research note on Thursday, August 7th. They now have a $51.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of SCANA from $53.00 to $54.00 in a research note on Friday, August 1st. They now have an “equal weight” rating on the stock. Finally, analysts at Barclays cut their price target on shares of SCANA from $55.00 to $53.00 in a research note on Thursday, June 5th. They now have an “equal weight” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $51.20.
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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