Mizuho Reaffirms Underperform Rating for Scana Corporation (SCG)
Mizuho reissued their underperform rating on shares of Scana Corporation (NYSE:SCG) in a research note published on Friday, July 7th. The firm currently has a $63.00 target price on the utilities provider’s stock.
Several other research firms also recently weighed in on SCG. BidaskClub raised shares of Scana Corporation from a hold rating to a buy rating in a research report on Tuesday, June 20th. Zacks Investment Research downgraded shares of Scana Corporation from a hold rating to a sell rating in a research report on Wednesday, April 19th. Finally, Barclays PLC restated an equal weight rating and set a $67.00 price target (down from $70.00) on shares of Scana Corporation in a report on Sunday, April 23rd. Five analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Scana Corporation currently has an average rating of Hold and a consensus target price of $71.44.
Shares of Scana Corporation (SCG) opened at 63.79 on Friday. The firm has a market capitalization of $9.12 billion, a P/E ratio of 15.46 and a beta of 0.25. The firm’s 50-day moving average price is $66.63 and its 200 day moving average price is $67.30. Scana Corporation has a 12 month low of $60.00 and a 12 month high of $75.92.
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 the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations 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 was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. Analysts anticipate that Scana Corporation will post $4.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Monday, September 11th will be paid a $0.6125 dividend. This represents a $2.45 dividend on an annualized basis and a yield of 3.84%. Scana Corporation’s dividend payout ratio (DPR) is presently 57.68%.
Institutional investors have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co raised its position in Scana Corporation by 5.5% in the first quarter. CENTRAL TRUST Co now owns 1,534 shares of the utilities provider’s stock worth $100,000 after buying an additional 80 shares in the last quarter. Jolley Asset Management LLC raised its position 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 worth $104,000 after buying an additional 50 shares in the last quarter. Massmutual Trust Co. FSB ADV purchased a new position in Scana Corporation during the first quarter worth approximately $112,000. Cribstone Capital Management LLC raised its position 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 worth $120,000 after buying an additional 980 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in Scana Corporation by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,235 shares of the utilities provider’s stock worth $145,000 after buying an additional 13 shares in the last quarter. 67.55% of the stock is currently owned by institutional investors.
Scana Corporation Company Profile
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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