Scana Corporation (SCG) Price Target Cut to $67.00
Scana Corporation (NYSE:SCG) had its price target lowered by research analysts at Morgan Stanley from $70.00 to $67.00 in a note issued to investors on Tuesday, July 11th. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective points to a potential upside of 5.88% from the company’s current price.
SCG has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Scana Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, April 19th. Barclays PLC restated an “equal weight” rating and issued a $67.00 price target (down from $70.00) on shares of Scana Corporation in a research note on Sunday, April 23rd. BidaskClub downgraded shares of Scana Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Finally, Mizuho restated an “underperform” rating and issued a $63.00 price target on shares of Scana Corporation in a research note on Friday, July 7th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Scana Corporation has an average rating of “Hold” and a consensus target price of $71.44.
Scana Corporation (NYSE:SCG) traded down 0.80% during trading on Tuesday, reaching $63.28. 1,588,855 shares of the company’s stock were exchanged. The firm has a market cap of $9.04 billion, a P/E ratio of 15.34 and a beta of 0.25. Scana Corporation has a 52-week low of $60.00 and a 52-week high of $75.92. The stock’s 50 day moving average price is $66.63 and its 200 day moving average price is $67.30.
Scana Corporation (NYSE:SCG) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $931.67 million. Scana Corporation had a net margin of 13.99% and a return on equity of 10.55%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share. Equities research analysts anticipate that Scana Corporation will post $4.14 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the company. CENTRAL TRUST Co increased its stake in Scana Corporation by 5.5% in the first quarter. CENTRAL TRUST Co now owns 1,534 shares of the utilities provider’s stock valued at $100,000 after buying an additional 80 shares in the last quarter. Jolley Asset Management LLC increased its stake in Scana Corporation by 3.2% in the first quarter. Jolley Asset Management LLC now owns 1,595 shares of the utilities provider’s stock valued at $104,000 after buying an additional 50 shares in the last quarter. Massmutual Trust Co. FSB ADV acquired a new stake in Scana Corporation during the first quarter valued at approximately $112,000. Cribstone Capital Management LLC increased its stake in Scana Corporation by 113.7% in the first quarter. Cribstone Capital Management LLC now owns 1,842 shares of the utilities provider’s stock valued at $120,000 after buying an additional 980 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Scana Corporation by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,235 shares of the utilities provider’s stock valued at $145,000 after buying an additional 13 shares in the last quarter. Institutional investors and hedge funds own 67.56% 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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