Scana Corporation (NYSE:SCG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “SCANA is well positioned in a positive regulatory environment, having a low risk business with outstanding customer growth and operational efficiency. The company also has an attractive and consistent dividend payout. However, SCANA Corp.’s price chart shows that it has lagged the industry over the last three months. Westinghouse Electric Co., which is presently constructing a nuclear plant for SCANA, has filed for bankruptcy. Although Westinghouse is anticipated to finish the construction of nuclear reactors, SCANA might face delays and a significant increase in cost. Thus, the future earnings growth of the company looks uncertain.”

SCG has been the subject of several other reports. Mizuho upgraded shares of Scana Corporation from an “underperform” rating to a “neutral” rating and set a $58.50 price objective for the company in a research report on Monday, August 28th. BidaskClub upgraded shares of Scana Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Guggenheim downgraded shares of Scana Corporation from a “buy” rating to a “sell” rating in a research report on Friday, July 28th. Morgan Stanley boosted their price objective on shares of Scana Corporation from $58.00 to $59.00 and gave the company an “underweight” rating in a research report on Thursday, August 10th. Finally, Barclays PLC upgraded shares of Scana Corporation from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $65.00 to $73.00 in a research report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $70.31.

Shares of Scana Corporation (NYSE:SCG) opened at 59.58 on Wednesday. The firm has a market capitalization of $8.51 billion, a PE ratio of 14.06 and a beta of 0.27. Scana Corporation has a 12-month low of $58.55 and a 12-month high of $75.92. The company’s 50-day moving average price is $61.52 and its 200-day moving average price is $65.57.

Scana Corporation (NYSE:SCG) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $931.67 million. During the same period in the previous year, the business earned $0.74 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. Analysts anticipate that Scana Corporation will post $4.19 EPS for the current year.

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Several large investors have recently made changes to their positions in the company. Sigma Planning Corp increased its holdings in shares of Scana Corporation by 0.3% during the second quarter. Sigma Planning Corp now owns 3,266 shares of the utilities provider’s stock worth $219,000 after buying an additional 10 shares in the last quarter. Focused Wealth Management Inc increased its holdings in shares of Scana Corporation by 0.4% during the first quarter. Focused Wealth Management Inc now owns 3,182 shares of the utilities provider’s stock worth $208,000 after buying an additional 12 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Scana Corporation by 0.6% during 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 in the last quarter. ING Groep NV increased its holdings in shares of Scana Corporation by 0.4% during the second quarter. ING Groep NV now owns 7,320 shares of the utilities provider’s stock worth $491,000 after buying an additional 26 shares in the last quarter. Finally, Gateway Investment Advisers LLC increased its holdings in shares of Scana Corporation by 0.3% during the second quarter. Gateway Investment Advisers LLC now owns 9,669 shares of the utilities provider’s stock worth $648,000 after buying an additional 28 shares in the last quarter. Institutional investors own 66.70% 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.

Analyst Recommendations for Scana Corporation (NYSE:SCG)

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