Scana Corporation (NYSE:SCG) – Investment analysts at Gabelli dropped their FY2018 earnings estimates for shares of Scana Corporation in a research note issued to investors on Tuesday. Gabelli analyst T. Winter now anticipates that the utilities provider will post earnings per share of $4.30 for the year, down from their previous forecast of $4.40. Gabelli currently has a “Hold” rating on the stock.

Scana Corporation (NYSE:SCG) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $931.67 million. Scana Corporation had a net margin of 13.99% and a return on equity of 10.55%. Scana Corporation’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. TRADEMARK VIOLATION NOTICE: This news story was originally posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this news story can be accessed at https://www.dailypolitical.com/2017/08/05/scana-corporation-to-post-fy2018-earnings-of-4-30-per-share-gabelli-forecasts-nysescg.html.

SCG has been the topic of several other reports. Zacks Investment Research downgraded Scana Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub upgraded Scana Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Guggenheim downgraded Scana Corporation from a “buy” rating to a “sell” rating in a research report on Friday, July 28th. Morgan Stanley reduced their target price on Scana Corporation from $70.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 11th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $67.00 target price (down from $70.00) on shares of Scana Corporation in a research report on Sunday, April 23rd. Five analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Scana Corporation has an average rating of “Hold” and an average target price of $71.44.

Shares of Scana Corporation (SCG) traded down 2.37% during mid-day trading on Thursday, reaching $63.79. 1,758,337 shares of the company traded hands. The company’s 50 day moving average is $66.63 and its 200 day moving average is $67.30. Scana Corporation has a 52-week low of $60.00 and a 52-week high of $75.92. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of 15.46 and a beta of 0.25.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Monday, September 11th will be issued a $0.6125 dividend. This represents a $2.45 dividend on an annualized basis and a dividend yield of 3.84%. Scana Corporation’s dividend payout ratio (DPR) is 57.68%.

Institutional investors have recently added to or reduced their stakes in the company. CENTRAL TRUST Co increased its position in Scana Corporation by 5.5% in the first quarter. CENTRAL TRUST Co now owns 1,534 shares of the utilities provider’s stock worth $100,000 after buying an additional 80 shares during the period. Jolley Asset Management LLC increased its position in Scana Corporation by 3.2% in the first quarter. Jolley Asset Management LLC now owns 1,595 shares of the utilities provider’s stock worth $104,000 after buying an additional 50 shares during the period. Massmutual Trust Co. FSB ADV purchased a new position in Scana Corporation during the first quarter worth approximately $112,000. Cribstone Capital Management LLC increased its position in Scana Corporation by 113.7% in the first quarter. Cribstone Capital Management LLC now owns 1,842 shares of the utilities provider’s stock worth $120,000 after buying an additional 980 shares during the period. Finally, Parallel Advisors LLC increased its position in Scana Corporation by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,235 shares of the utilities provider’s stock worth $145,000 after buying an additional 13 shares during the period. Institutional investors own 67.55% of the company’s stock.

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.

Earnings History and Estimates for Scana Corporation (NYSE:SCG)

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