Scana Corp. (SCG) Rating Lowered to Hold at Zacks Investment Research
Scana Corp. (NYSE:SCG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “SCANA Corp. is a stable, relatively strong and regulated electric utility, supported by regional demographics and a favorable electric utility rate. Going forward, we expect modest growth to continue thanks to the utility’s improving electric margins and rate increases. We are also bullish about the steady progress of new electric generation plants and nuclear expansion projects. However, construction costs and delays could impact the timing of rate base growth, earnings, cash flow and the quality of the balance sheet. Further, SCANA’s sensitivity to changes in coal, gas, oil and other commodity prices pose as risks.”
SCG has been the subject of a number of other reports. Morgan Stanley lowered Scana Corp. from an “equal weight” rating to an “underweight” rating and set a $67.00 price objective for the company. in a report on Wednesday, June 15th. Mizuho increased their price objective on Scana Corp. from $74.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. Finally, Williams Capital reissued a “buy” rating on shares of Scana Corp. in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $71.58.
Scana Corp. (NYSE:SCG) opened at 73.93 on Tuesday. The firm’s 50-day moving average price is $72.03 and its 200 day moving average price is $70.97. Scana Corp. has a 52-week low of $52.43 and a 52-week high of $76.41. The stock has a market cap of $10.57 billion, a P/E ratio of 20.01 and a beta of 0.22.
Scana Corp. (NYSE:SCG) last posted its earnings results on Thursday, July 28th. The company reported $0.74 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.74. The company earned $905 million during the quarter, compared to analyst estimates of $986.95 million. Scana Corp. had a return on equity of 9.82% and a net margin of 12.88%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. Equities analysts predict that Scana Corp. will post $3.97 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Monday, September 12th will be given a $0.575 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.30 dividend on an annualized basis and a yield of 3.11%. Scana Corp.’s dividend payout ratio (DPR) is 62.16%.
A number of large investors have recently added to or reduced their stakes in SCG. Moors & Cabot Inc. increased its stake in Scana Corp. by 0.3% in the second quarter. Moors & Cabot Inc. now owns 5,557 shares of the company’s stock worth $420,000 after buying an additional 18 shares during the period. Pennsylvania Trust Co increased its stake in shares of Scana Corp. by 1.4% in the second quarter. Pennsylvania Trust Co now owns 2,924 shares of the company’s stock worth $221,000 after buying an additional 40 shares during the period. OLD National Bancorp IN increased its stake in shares of Scana Corp. by 0.8% in the first quarter. OLD National Bancorp IN now owns 8,312 shares of the company’s stock worth $583,000 after buying an additional 62 shares during the period. World Asset Management Inc increased its stake in shares of Scana Corp. by 0.5% in the second quarter. World Asset Management Inc now owns 14,421 shares of the company’s stock worth $1,091,000 after buying an additional 71 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Scana Corp. by 2.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,449 shares of the company’s stock worth $235,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 64.84% of the company’s stock.
Scana Corp. Company Profile
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.
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