Scana Corporation (SCG) Cut to Hold at Williams Capital

Williams Capital lowered shares of Scana Corporation (NYSE:SCG) from a buy rating to a hold rating in a research report report published on Monday morning, MarketBeat Ratings reports. Williams Capital currently has $70.00 price target on the utilities provider’s stock, down from their prior price target of $80.00. Williams Capital also issued estimates for Scana Corporation’s Q4 2017 earnings at $0.99 EPS, Q1 2018 earnings at $1.39 EPS, Q2 2018 earnings at $0.76 EPS, Q3 2018 earnings at $1.22 EPS, Q4 2018 earnings at $1.09 EPS, FY2018 earnings at $4.46 EPS and FY2019 earnings at $4.79 EPS.

A number of other analysts have also recently commented on the company. Zacks Investment Research raised Scana Corporation from a sell rating to a hold rating in a research note on Wednesday, September 13th. Mizuho raised Scana Corporation from an underperform rating to a neutral rating and set a $58.50 price target for the company in a research note on Monday, August 28th. Morgan Stanley upped their price target on Scana Corporation from $58.00 to $59.00 and gave the company an underweight rating in a research note on Thursday, August 10th. Barclays PLC raised Scana Corporation from an equal weight rating to an overweight rating and upped their price target for the company from $65.00 to $73.00 in a research note on Tuesday, August 1st. Finally, Guggenheim cut Scana Corporation from a buy rating to a sell rating in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Scana Corporation presently has a consensus rating of Hold and an average price target of $70.28.

Scana Corporation (SCG) opened at 57.80 on Monday. Scana Corporation has a one year low of $57.50 and a one year high of $75.92. The firm has a market capitalization of $8.26 billion, a PE ratio of 13.64 and a beta of 0.27. The firm has a 50 day moving average of $61.10 and a 200 day moving average of $65.28.

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

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The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Monday, September 11th will be given a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Friday, September 8th. Scana Corporation’s dividend payout ratio (DPR) is currently 57.92%.

Large investors have recently added to or reduced their stakes in the business. Federated Investors Inc. PA boosted its position in Scana Corporation by 264,341.0% during the 2nd quarter. Federated Investors Inc. PA now owns 161,309 shares of the utilities provider’s stock worth $10,809,000 after acquiring an additional 161,248 shares during the last quarter. BlueCrest Capital Management Ltd boosted its position in Scana Corporation by 331.7% during the 1st quarter. BlueCrest Capital Management Ltd now owns 18,260 shares of the utilities provider’s stock worth $1,193,000 after acquiring an additional 14,030 shares during the last quarter. American Century Companies Inc. boosted its position in Scana Corporation by 22.6% during the 2nd quarter. American Century Companies Inc. now owns 234,866 shares of the utilities provider’s stock worth $15,738,000 after acquiring an additional 43,225 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in Scana Corporation during the 2nd quarter worth approximately $2,767,000. Finally, OppenheimerFunds Inc. boosted its position in Scana Corporation by 20.8% during the 1st quarter. OppenheimerFunds Inc. now owns 7,837 shares of the utilities provider’s stock worth $512,000 after acquiring an additional 1,349 shares during the last quarter. 66.66% of the stock is owned by hedge funds and other institutional investors.

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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