Scana Corporation (NYSE:SCG) was upgraded by stock analysts at Mizuho from an “underperform” rating to a “neutral” rating in a report released on Monday, MarketBeat.com reports. The firm currently has a $58.50 price target on the utilities provider’s stock. Mizuho’s price objective points to a potential downside of 2.63% from the stock’s previous close.

Several other equities research analysts have also issued reports on SCG. BidaskClub raised Scana Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Morgan Stanley reduced their price target on Scana Corporation from $70.00 to $67.00 and set an “underweight” rating on the stock in a report on Tuesday, July 11th. Zacks Investment Research downgraded Scana Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) upgraded Scana Corporation from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $66.00 to $64.00 in a report on Thursday, July 20th. Finally, Gabelli downgraded Scana Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $70.31.

Scana Corporation (NYSE:SCG) traded up 0.52% on Monday, reaching $60.39. The company had a trading volume of 372,516 shares. Scana Corporation has a 12-month low of $59.34 and a 12-month high of $75.92. The stock’s 50-day moving average price is $63.24 and its 200-day moving average price is $66.36. The stock has a market capitalization of $8.63 billion, a P/E ratio of 14.25 and a beta of 0.25.

Scana Corporation (NYSE:SCG) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $931.67 million. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. On average, equities research analysts anticipate that Scana Corporation will post $4.19 EPS for the current fiscal year.

WARNING: This story was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another domain, it was stolen and reposted in violation of United States and international trademark and copyright laws. The original version of this story can be accessed at https://www.americanbankingnews.com/2017/08/28/scana-corporation-scg-stock-rating-upgraded-by-mizuho.html.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCG. BlueCrest Capital Management Ltd increased its position in Scana Corporation by 331.7% in the first quarter. BlueCrest Capital Management Ltd now owns 18,260 shares of the utilities provider’s stock valued at $1,193,000 after buying an additional 14,030 shares during the last quarter. CHURCHILL MANAGEMENT Corp purchased a new position in Scana Corporation during the second quarter valued at approximately $2,767,000. OppenheimerFunds Inc. increased its position in Scana Corporation by 20.8% in the first quarter. OppenheimerFunds Inc. now owns 7,837 shares of the utilities provider’s stock valued at $512,000 after buying an additional 1,349 shares during the last quarter. Koch Industries Inc. purchased a new position in Scana Corporation during the first quarter valued at approximately $263,000. Finally, Fulton Bank N.A. purchased a new position in Scana Corporation during the second quarter valued at approximately $344,000. Institutional investors own 66.64% 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.

Analyst Recommendations for Scana Corporation (NYSE:SCG)

Receive News & Ratings for Scana Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scana Corporation and related companies with MarketBeat.com's FREE daily email newsletter.