BidaskClub upgraded shares of Scana Corporation (NYSE:SCG) from a strong sell rating to a sell rating in a report issued on Monday, July 24th.
SCG has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Scana Corporation from a hold rating to a sell rating in a report on Wednesday, July 12th. Morgan Stanley reduced their target price on shares of Scana Corporation from $70.00 to $67.00 and set an underweight rating for the company in a report on Tuesday, July 11th. Barclays PLC reiterated an equal weight rating and issued a $67.00 target price (down from $70.00) on shares of Scana Corporation in a report on Sunday, April 23rd. Mizuho reiterated an underperform rating and issued a $63.00 target price on shares of Scana Corporation in a report on Friday, July 7th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Scana Corporation from a sell rating to a neutral rating and reduced their target price for the stock from $66.00 to $64.00 in a report on Thursday, July 20th. Five analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Scana Corporation currently has a consensus rating of Hold and an average price target of $70.44.
Scana Corporation (NYSE SCG) traded down 2.13% during mid-day trading on Monday, reaching $60.69. 1,719,131 shares of the company’s stock were exchanged. The firm has a market capitalization of $8.67 billion, a P/E ratio of 14.32 and a beta of 0.25. The company’s 50-day moving average is $65.11 and its 200 day moving average is $66.94. Scana Corporation has a one year low of $60.00 and a one year high of $75.92.
Scana Corporation (NYSE:SCG) last released its quarterly earnings data 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. Scana Corporation had a net margin of 13.99% and a return on equity of 10.50%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $931.67 million. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts predict that Scana Corporation will post $4.12 earnings per share for the current fiscal year.
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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 issued a dividend of $0.6125 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.45 annualized dividend and a dividend yield of 4.04%. Scana Corporation’s dividend payout ratio (DPR) is currently 57.68%.
Several institutional investors have recently bought and sold shares of SCG. Ontario Teachers Pension Plan Board increased its position in Scana Corporation by 4.3% in the second quarter. Ontario Teachers Pension Plan Board now owns 101,247 shares of the utilities provider’s stock valued at $6,785,000 after buying an additional 4,220 shares during the period. OxFORD Asset Management LLP increased its position in shares of Scana Corporation by 74.3% in the second quarter. OxFORD Asset Management LLP now owns 48,001 shares of the utilities provider’s stock valued at $3,217,000 after buying an additional 20,460 shares during the period. Blackstart Capital LP acquired a new position in shares of Scana Corporation during the second quarter valued at $9,930,000. Dimensional Fund Advisors LP increased its position in shares of Scana Corporation by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 321,381 shares of the utilities provider’s stock valued at $21,538,000 after buying an additional 3,010 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Scana Corporation by 35.7% in the second quarter. Renaissance Technologies LLC now owns 1,198,400 shares of the utilities provider’s stock valued at $80,305,000 after buying an additional 315,100 shares during the period. Hedge funds and other institutional investors own 67.56% of the company’s stock.
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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