Scana Corporation (SCG) Given Average Recommendation of “Hold” by Brokerages
Shares of Scana Corporation (NYSE:SCG) have earned an average recommendation of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $67.75.
Several equities research analysts have issued reports on SCG shares. Morgan Stanley dropped their target price on shares of Scana Corporation from $70.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, July 11th. BidaskClub lowered shares of Scana Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) upgraded shares of Scana Corporation from a “sell” rating to a “neutral” rating and dropped their target price for the company from $66.00 to $64.00 in a research report on Thursday, July 20th. Mizuho reiterated an “underperform” rating and set a $63.00 target price on shares of Scana Corporation in a research report on Friday, July 7th. Finally, Gabelli lowered shares of Scana Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th.
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Scana Corporation (NYSE SCG) traded up 0.37% during trading on Friday, reaching $59.84. 1,480,625 shares of the company were exchanged. Scana Corporation has a one year low of $58.55 and a one year high of $75.92. The firm’s 50-day moving average is $61.35 and its 200 day moving average is $65.50. The company has a market capitalization of $8.55 billion, a P/E ratio of 14.12 and a beta of 0.27.
Scana Corporation (NYSE:SCG) last announced its earnings results 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. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $931.67 million. During the same period in the previous year, the business posted $0.74 earnings per share. Scana Corporation’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts anticipate that Scana Corporation will post $4.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Monday, September 11th will be paid a dividend of $0.6125 per share. This represents a $2.45 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Friday, September 8th. Scana Corporation’s dividend payout ratio (DPR) is presently 57.92%.
Several hedge funds have recently bought and sold shares of SCG. American Century Companies Inc. raised its stake in shares of Scana Corporation by 119.4% during the first quarter. American Century Companies Inc. now owns 191,641 shares of the utilities provider’s stock worth $12,524,000 after acquiring an additional 104,304 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Scana Corporation by 128.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 9,747 shares of the utilities provider’s stock worth $663,000 after acquiring an additional 5,479 shares in the last quarter. US Bancorp DE raised its stake in shares of Scana Corporation by 7.8% during the first quarter. US Bancorp DE now owns 22,693 shares of the utilities provider’s stock worth $1,483,000 after acquiring an additional 1,641 shares in the last quarter. Comerica Bank raised its stake in shares of Scana Corporation by 0.8% during the first quarter. Comerica Bank now owns 64,298 shares of the utilities provider’s stock worth $4,323,000 after acquiring an additional 534 shares in the last quarter. Finally, World Asset Management Inc raised its stake in shares of Scana Corporation by 9.8% during the first quarter. World Asset Management Inc now owns 14,901 shares of the utilities provider’s stock worth $974,000 after acquiring an additional 1,327 shares in the last quarter. 66.70% of the stock is currently owned by hedge funds and other institutional investors.
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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