Scana Corporation (SCG) Upgraded to “Sell” at BidaskClub
Scana Corporation (NYSE:SCG) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Monday.
A number of other research firms have also issued reports on SCG. Morgan Stanley cut their price target on shares of 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 shares of Scana Corporation from a “sell” rating to a “neutral” rating and cut their price target for the company from $66.00 to $64.00 in a report on Thursday. Mizuho restated an “underperform” rating and set a $63.00 price target on shares of Scana Corporation in a report on Friday, July 7th. Zacks Investment Research lowered shares of Scana Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Finally, Barclays PLC restated an “equal weight” rating and set a $67.00 price target (down previously from $70.00) on shares of Scana Corporation in a report on Sunday, April 23rd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Scana Corporation currently has an average rating of “Hold” and an average target price of $71.13.
Shares of Scana Corporation (NYSE:SCG) traded down 1.60% on Monday, hitting $64.56. 685,223 shares of the stock were exchanged. The company has a market cap of $9.23 billion, a P/E ratio of 15.65 and a beta of 0.26. The firm’s 50-day moving average is $67.43 and its 200-day moving average is $67.75. Scana Corporation has a one year low of $63.18 and a one year high of $75.92.
Scana Corporation (NYSE:SCG) last released its quarterly earnings results on Thursday, April 27th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by $0.18. Scana Corporation had a net margin of 13.93% and a return on equity of 10.35%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The firm’s revenue was up .1% compared to the same quarter last year. On average, equities analysts forecast that Scana Corporation will post $4.19 EPS for the current fiscal year.
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In other Scana Corporation news, VP Martin K. Phalen sold 42,023 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $65.49, for a total value of $2,752,086.27. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.37% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Scana Corporation by 3,558.5% in the first quarter. BlackRock Inc. now owns 12,263,023 shares of the utilities provider’s stock valued at $801,389,000 after buying an additional 11,927,826 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in Scana Corporation during the first quarter valued at $91,844,000. Morgan Stanley raised its position in Scana Corporation by 127.7% in the first quarter. Morgan Stanley now owns 1,473,057 shares of the utilities provider’s stock valued at $96,264,000 after buying an additional 826,008 shares in the last quarter. Vanguard Group Inc. raised its position in Scana Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,571,569 shares of the utilities provider’s stock valued at $886,902,000 after buying an additional 479,888 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Scana Corporation by 65.7% in the first quarter. Renaissance Technologies LLC now owns 883,300 shares of the utilities provider’s stock valued at $57,724,000 after buying an additional 350,300 shares in the last quarter. Hedge funds and other institutional investors own 67.94% of the company’s stock.
About Scana Corporation
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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