SCANA (SCG) Raised to Buy at Mizuho
Mizuho upgraded shares of SCANA (NYSE:SCG) from a neutral rating to a buy rating in a research note released on Tuesday morning, MarketBeat.com reports.
A number of other brokerages have also recently commented on SCG. Zacks Investment Research raised shares of SCANA from a sell rating to a hold rating in a research report on Tuesday, August 28th. UBS Group cut their price target on shares of SCANA from $36.00 to $35.00 and set a sell rating on the stock in a research report on Friday, August 10th. Finally, Wolfe Research reaffirmed an outperform rating on shares of SCANA in a research report on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $40.08.
Shares of SCG opened at $39.28 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.61 and a debt-to-equity ratio of 1.14. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 3.44 and a beta of 0.12. SCANA has a 12 month low of $33.61 and a 12 month high of $50.22.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were given a dividend of $0.1237 per share. The ex-dividend date was Friday, September 7th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 1.26%. SCANA’s dividend payout ratio (DPR) is presently 11.67%.
Several hedge funds have recently added to or reduced their stakes in SCG. Pinebridge Investments L.P. boosted its position in shares of SCANA by 258.2% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,457 shares of the utilities provider’s stock worth $134,000 after purchasing an additional 2,492 shares in the last quarter. NEXT Financial Group Inc bought a new position in shares of SCANA during the 3rd quarter worth about $168,000. Cerebellum GP LLC bought a new position in shares of SCANA during the 3rd quarter worth about $197,000. IFM Investors Pty Ltd bought a new position in shares of SCANA during the 2nd quarter worth about $200,000. Finally, CIBC World Markets Inc. bought a new position in shares of SCANA during the 2nd quarter worth about $203,000. 69.87% of the stock is currently owned by institutional investors.
SCANA Corporation, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity to retail and wholesale customers in the United States. The company owns nuclear, coal, hydro, natural gas, oil, biomass, and solar generating facilities. It also purchases, sells, and transports natural gas; and offers energy-related services.
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