SCANA (SCG) Downgraded to Market Perform at Wells Fargo & Co
Wells Fargo & Co lowered shares of SCANA (NYSE:SCG) from an outperform rating to a market perform rating in a research note published on Friday. The firm currently has $51.00 target price on the utilities provider’s stock.
SCG has been the topic of a number of other reports. Edward Jones upgraded SCANA from a hold rating to a buy rating in a research report on Monday, November 13th. Morgan Stanley reiterated an underweight rating and set a $45.00 price target on shares of SCANA in a research report on Wednesday, October 4th. ValuEngine upgraded SCANA from a hold rating to a buy rating in a research report on Friday, December 1st. Bank of America started coverage on SCANA in a research report on Tuesday, October 24th. They set a neutral rating and a $49.00 price target on the stock. Finally, Guggenheim upgraded SCANA from a sell rating to a neutral rating in a research report on Thursday, November 16th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $60.28.
Shares of SCANA (SCG) traded down $1.31 during midday trading on Friday, reaching $45.02. The company’s stock had a trading volume of 5,773,655 shares, compared to its average volume of 3,340,000. SCANA has a 12-month low of $37.10 and a 12-month high of $72.89. The firm has a market capitalization of $6,430.00, a PE ratio of 14.25, a P/E/G ratio of 3.84 and a beta of 0.20. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.88 and a quick ratio of 0.77.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Tuesday, December 12th were issued a $0.6125 dividend. This represents a $2.45 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend was Monday, December 11th. SCANA’s dividend payout ratio (DPR) is 77.53%.
Hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank grew its holdings in SCANA by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 48,327 shares of the utilities provider’s stock worth $3,238,000 after buying an additional 9,840 shares in the last quarter. Swiss National Bank grew its holdings in SCANA by 1.1% in the 3rd quarter. Swiss National Bank now owns 597,212 shares of the utilities provider’s stock worth $28,959,000 after buying an additional 6,300 shares in the last quarter. Aberdeen Asset Management PLC UK grew its holdings in SCANA by 23.2% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 48,016 shares of the utilities provider’s stock worth $3,218,000 after buying an additional 9,028 shares in the last quarter. Tandem Investment Advisors Inc. grew its holdings in SCANA by 4.8% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 70,569 shares of the utilities provider’s stock worth $4,729,000 after buying an additional 3,222 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in SCANA by 5.9% in the 2nd quarter. California Public Employees Retirement System now owns 281,200 shares of the utilities provider’s stock worth $18,843,000 after buying an additional 15,700 shares in the last quarter. 66.70% of the stock is owned by institutional investors and hedge funds.
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SCANA 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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