Scana Corporation (SCG) Downgraded to “Hold” at Williams Capital
Scana Corporation (NYSE:SCG) was downgraded by Williams Capital from a “buy” rating to a “hold” rating in a report released on Monday. They presently have a $70.00 price objective on the utilities provider’s stock, down from their previous price objective of $80.00. Williams Capital’s price target would indicate a potential upside of 16.98% from the stock’s previous close.
Several other research analysts have also issued reports on SCG. Zacks Investment Research raised shares of Scana Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Morgan Stanley increased their price target on shares of Scana Corporation from $58.00 to $59.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. BidaskClub lowered shares of Scana Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Mizuho reissued an “underperform” rating and issued a $59.50 price target (up previously from $57.00) on shares of Scana Corporation in a research report on Tuesday, August 1st. Finally, Barclays PLC raised shares of Scana Corporation from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $65.00 to $73.00 in a research report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $70.28.
Scana Corporation (NYSE:SCG) opened at 59.84 on Monday. The firm has a market capitalization of $8.55 billion, a P/E ratio of 14.12 and a beta of 0.27. The firm has a 50-day moving average price of $61.35 and a 200-day moving average price of $65.50. Scana Corporation has a 52 week low of $58.55 and a 52 week high of $75.92.
Scana Corporation (NYSE:SCG) last posted its quarterly earnings results 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. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $931.67 million. During the same quarter in the prior year, the business posted $0.74 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts forecast that Scana Corporation will post $4.19 EPS for the current year.
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A number of institutional investors have recently modified their holdings of SCG. BlackRock Inc. grew its stake in Scana Corporation by 3,558.5% during the first quarter. BlackRock Inc. now owns 12,263,023 shares of the utilities provider’s stock worth $801,389,000 after buying an additional 11,927,826 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in Scana Corporation during the first quarter worth about $91,844,000. Janus Henderson Group PLC grew its stake in Scana Corporation by 6,220.2% during the second quarter. Janus Henderson Group PLC now owns 1,250,396 shares of the utilities provider’s stock worth $83,789,000 after buying an additional 1,230,612 shares during the last quarter. LSV Asset Management grew its stake in Scana Corporation by 833.9% during the second quarter. LSV Asset Management now owns 1,241,196 shares of the utilities provider’s stock worth $83,172,000 after buying an additional 1,108,296 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in Scana Corporation by 1,365.8% during the second quarter. Nordea Investment Management AB now owns 1,100,102 shares of the utilities provider’s stock worth $73,718,000 after buying an additional 1,025,052 shares during the last quarter. 66.66% of the stock is currently owned by hedge funds and other 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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