Scana Corporation (NYSE:SCG) has earned an average rating of “Hold” from the eleven analysts that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $67.92.
SCG has been the subject of several research reports. Zacks Investment Research downgraded shares of Scana Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. Barclays PLC restated an “equal weight” rating and set a $67.00 target price (down previously from $70.00) on shares of Scana Corporation in a report on Sunday, April 23rd. BidaskClub upgraded shares of Scana Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Mizuho reiterated an “underperform” rating and issued a $63.00 price target on shares of Scana Corporation in a research note on Friday, July 7th. Finally, Morgan Stanley cut their price target on shares of Scana Corporation from $70.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday, July 11th.
Scana Corporation (NYSE SCG) traded down 2.13% on Friday, reaching $60.69. 1,719,131 shares of the company’s stock traded hands. The firm has a market capitalization of $8.67 billion, a PE ratio of 14.32 and a beta of 0.25. Scana Corporation has a 52-week low of $60.00 and a 52-week high of $75.92. The firm’s 50 day moving average price is $65.11 and its 200 day moving average price is $66.94.
Scana Corporation (NYSE:SCG) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $931.67 million. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. Scana Corporation’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, analysts predict that Scana Corporation will post $4.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Monday, September 11th will be paid a $0.6125 dividend. The ex-dividend date is Friday, September 8th. This represents a $2.45 annualized dividend and a dividend yield of 4.04%. Scana Corporation’s dividend payout ratio is currently 57.68%.
A number of hedge funds have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd raised its stake in shares of Scana Corporation by 331.7% in the first quarter. BlueCrest Capital Management Ltd now owns 18,260 shares of the utilities provider’s stock worth $1,193,000 after buying an additional 14,030 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new stake in Scana Corporation during the second quarter valued at about $2,767,000. OppenheimerFunds Inc. raised its stake in Scana Corporation by 20.8% in the first quarter. OppenheimerFunds Inc. now owns 7,837 shares of the utilities provider’s stock valued at $512,000 after buying an additional 1,349 shares during the last quarter. Koch Industries Inc. purchased a new stake in Scana Corporation during the first quarter valued at about $263,000. Finally, Pensionfund DSM Netherlands raised its stake in Scana Corporation by 4.0% in the first quarter. Pensionfund DSM Netherlands now owns 41,600 shares of the utilities provider’s stock valued at $2,719,000 after buying an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 67.56% of the company’s stock.
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Scana Corporation Company Profile
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.
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