Scana Corporation (SCG) Stock Rating Upgraded by Guggenheim
Scana Corporation (NYSE:SCG) was upgraded by investment analysts at Guggenheim from a “sell” rating to a “neutral” rating in a report released on Thursday. The analysts noted that the move was a valuation call.
A number of other equities analysts have also recently weighed in on SCG. Gabelli cut Scana Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. The Goldman Sachs Group, Inc. upgraded Scana Corporation from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $66.00 to $64.00 in a report on Thursday, July 20th. BidaskClub upgraded Scana Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Mizuho restated an “underperform” rating and issued a $59.50 price target (up previously from $57.00) on shares of Scana Corporation in a report on Tuesday, August 1st. Finally, Barclays PLC upgraded Scana Corporation from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $65.00 to $73.00 in a report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $61.44.
Shares of Scana Corporation (NYSE SCG) traded down $1.56 during trading hours on Thursday, hitting $43.45. The stock had a trading volume of 3,150,000 shares, compared to its average volume of 2,290,000. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 1.12. Scana Corporation has a 1-year low of $41.15 and a 1-year high of $74.99. The stock has a market cap of $6,000.00, a PE ratio of 10.93, a P/E/G ratio of 3.05 and a beta of 0.21.
Scana Corporation (NYSE:SCG) last issued its earnings results on Thursday, October 26th. The utilities provider reported $1.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.01). Scana Corporation had a return on equity of 10.05% and a net margin of 10.45%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm posted $1.32 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. research analysts expect that Scana Corporation will post 4.17 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in SCG. Willingdon Wealth Management acquired a new position in shares of Scana Corporation in the 3rd quarter valued at approximately $112,000. WFG Advisors LP raised its position in shares of Scana Corporation by 60.6% in the 2nd quarter. WFG Advisors LP now owns 1,747 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 659 shares in the last quarter. Amica Retiree Medical Trust raised its position in shares of Scana Corporation by 219.1% in the 3rd quarter. Amica Retiree Medical Trust now owns 2,693 shares of the utilities provider’s stock valued at $131,000 after purchasing an additional 1,849 shares in the last quarter. Fiduciary Trust Co. acquired a new position in shares of Scana Corporation in the 2nd quarter valued at approximately $164,000. Finally, Pacer Advisors Inc. raised its position in shares of Scana Corporation by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,641 shares of the utilities provider’s stock valued at $177,000 after purchasing an additional 203 shares in the last quarter. 68.12% of the stock is currently owned by institutional investors.
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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