Analysts Set Scana Corp. (SCG) Target Price at $69.70
Scana Corp. (NYSE:SCG) has earned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $69.70.
SCG has been the topic of a number of recent research reports. Morgan Stanley lowered shares of Scana Corp. from an “equal weight” rating to an “underweight” rating and set a $67.00 target price on the stock. in a report on Wednesday, June 15th. Zacks Investment Research upgraded shares of Scana Corp. from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Finally, Williams Capital restated a “buy” rating on shares of Scana Corp. in a report on Monday, September 12th.
Shares of Scana Corp. (NYSE:SCG) opened at 68.94 on Monday. The company’s 50-day moving average is $71.44 and its 200 day moving average is $71.38. Scana Corp. has a 52-week low of $55.85 and a 52-week high of $76.41. The firm has a market capitalization of $9.85 billion, a PE ratio of 18.66 and a beta of 0.24.
Scana Corp. (NYSE:SCG) last released its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.74. The company had revenue of $905 million for the quarter, compared to analyst estimates of $986.95 million. Scana Corp. had a net margin of 12.88% and a return on equity of 9.82%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. Equities analysts expect that Scana Corp. will post $3.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Monday, September 12th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Thursday, September 8th. Scana Corp.’s dividend payout ratio (DPR) is presently 62.16%.
Hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in Scana Corp. by 6.7% in the first quarter. State Street Corp now owns 7,429,893 shares of the company’s stock worth $521,200,000 after buying an additional 469,496 shares during the period. BlackRock Fund Advisors increased its stake in Scana Corp. by 5.4% in the second quarter. BlackRock Fund Advisors now owns 5,499,407 shares of the company’s stock worth $416,085,000 after buying an additional 280,435 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Scana Corp. by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,929,789 shares of the company’s stock worth $275,675,000 after buying an additional 34,076 shares during the period. Goldman Sachs Group Inc. increased its stake in Scana Corp. by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,674,675 shares of the company’s stock worth $257,778,000 after buying an additional 170,306 shares during the period. Finally, Janus Capital Management LLC increased its stake in Scana Corp. by 193.4% in the second quarter. Janus Capital Management LLC now owns 1,554,361 shares of the company’s stock worth $117,603,000 after buying an additional 1,024,609 shares during the period. 64.86% 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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