Scana Corp. (SCG) Shares Gap Up to $73.01
Scana Corp. (NYSE:SCG) gapped up prior to trading on Friday . The stock had previously closed at $72.84, but opened at $73.01. Scana Corp. shares last traded at $73.35, with a volume of 149,451 shares trading hands.
A number of equities research analysts have recently issued reports on SCG shares. Zacks Investment Research raised shares of Scana Corp. from a “sell” rating to a “hold” rating in a research report on Monday, May 23rd. Morgan Stanley downgraded Scana Corp. from an “equal weight” rating to an “underweight” rating and set a $67.00 price target for the company. in a research note on Wednesday, June 15th. Finally, Mizuho boosted their price target on Scana Corp. from $74.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $68.92.
The company has a 50-day moving average of $74.10 and a 200 day moving average of $69.57. The firm has a market capitalization of $10.47 billion and a PE ratio of 19.82.
Scana Corp. (NYSE:SCG) last announced its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $905 million for the quarter, compared to analysts’ expectations of $986.95 million. During the same period in the prior year, the business earned $0.69 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, analysts forecast that Scana Corp. will post $3.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Monday, September 12th will be given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Thursday, September 8th.
Several large investors have made changes to their positions in the stock. KBC Group NV raised its stake in shares of Scana Corp. by 85.1% in the fourth quarter. KBC Group NV now owns 152,651 shares of the company’s stock valued at $9,234,000 after buying an additional 70,178 shares in the last quarter. Airain ltd purchased a new position in Scana Corp. during the fourth quarter valued at $3,729,000. Bank of Montreal Can increased its position in Scana Corp. by 21.1% in the fourth quarter. Bank of Montreal Can now owns 209,371 shares of the company’s stock valued at $12,664,000 after buying an additional 36,450 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Scana Corp. by 1,797.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 20,364 shares of the company’s stock valued at $1,232,000 after buying an additional 19,291 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in Scana Corp. by 55.0% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 26,902 shares of the company’s stock valued at $1,627,000 after buying an additional 9,550 shares during the last quarter.
SCANA Corporation is a holding company. The Company, through its subsidiaries, is engaged in generation, transmission, distribution and sale of electricity, and the purchase, sale and transportation of natural gas in North Carolina and South Carolina. It operates through segments, including Electric Operations, Gas Distribution, Retail Gas Marketing, Energy Marketing and All Other.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.