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.”
Several other research firms have also commented on SCG. Mizuho lifted their price objective 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. Morgan Stanley lowered shares of Scana Corp. from an equal weight rating to an underweight rating and set a $67.00 price objective for the company. in a research note on Wednesday, June 15th. Finally, Williams Capital reaffirmed a buy rating on shares of Scana Corp. in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $71.58.
Scana Corp. (NYSE:SCG) opened at 72.71 on Tuesday. Scana Corp. has a one year low of $55.28 and a one year high of $76.41. The company has a market capitalization of $10.39 billion, a price-to-earnings ratio of 19.68 and a beta of 0.22. The firm has a 50-day moving average of $72.17 and a 200 day moving average of $71.27.
Scana Corp. (NYSE:SCG) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $905 million for the quarter, compared to analysts’ expectations of $986.95 million. Scana Corp. had a net margin of 12.88% and a return on equity of 9.82%. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. Equities research analysts predict that Scana Corp. will post $3.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Monday, September 12th will be paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis 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 currently 62.16%.
Hedge funds have recently modified their holdings of the stock. Cribstone Capital Management LLC bought a new stake in shares of Scana Corp. during the second quarter worth about $102,000. Global X Management Co. LLC raised its stake in shares of Scana Corp. by 186.1% in the second quarter. Global X Management Co. LLC now owns 1,456 shares of the company’s stock worth $110,000 after buying an additional 947 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its stake in shares of Scana Corp. by 60.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,832 shares of the company’s stock worth $139,000 after buying an additional 687 shares in the last quarter. Pacer Advisors Inc. raised its stake in Scana Corp. by 10.2% in the second quarter. Pacer Advisors Inc. now owns 2,389 shares of the company’s stock worth $181,000 after buying an additional 222 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new stake in Scana Corp. during the second quarter worth $200,000. 64.84% of the stock is owned by hedge funds and other institutional investors.
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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