Scana Corp. (SCG) Stock Rating Lowered by Zacks Investment Research
Scana Corp. (NYSE:SCG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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 also recently weighed in on the stock. Williams Capital reaffirmed a “buy” rating on shares of Scana Corp. in a research note on Monday, September 12th. Mizuho boosted their target price on shares of Scana Corp. from $74.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, June 14th. Finally, Morgan Stanley downgraded shares of Scana Corp. from an “equal weight” rating to an “underweight” rating and set a $67.00 target price for the company. in a research note on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Scana Corp. currently has an average rating of “Hold” and a consensus price target of $71.58.
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Shares of Scana Corp. (NYSE:SCG) traded up 0.10% during midday trading on Tuesday, hitting $72.92. 297,189 shares of the company traded hands. The stock’s 50-day moving average is $72.14 and its 200 day moving average is $70.90. The stock has a market capitalization of $10.42 billion, a P/E ratio of 19.74 and a beta of 0.22. Scana Corp. has a 12-month low of $52.27 and a 12-month high of $76.41.
Scana Corp. (NYSE:SCG) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. Scana Corp. had a net margin of 12.88% and a return on equity of 9.82%. The firm earned $905 million during the quarter, compared to the consensus estimate of $986.95 million. During the same period last year, the firm posted $0.69 EPS. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. On average, analysts expect that Scana Corp. will post $3.97 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Monday, September 12th will be given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, September 8th. Scana Corp.’s dividend payout ratio is 62.16%.
Large investors have recently modified their holdings of the company. Moors & Cabot Inc. boosted its stake 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 boosted its stake 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. OLD National Bancorp IN boosted its stake in shares of Scana Corp. by 0.8% in the first quarter. OLD National Bancorp IN now owns 8,312 shares of the company’s stock valued at $583,000 after buying an additional 62 shares in the last quarter. World Asset Management Inc boosted its stake 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. Finally, Mn Services Vermogensbeheer B.V. boosted its stake 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. Institutional investors own 64.97% of the company’s stock.
About Scana Corp.
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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