Morgan Stanley Increases Scana Corporation (SCG) Price Target to $59.00
Scana Corporation (NYSE:SCG) had its price objective upped by research analysts at Morgan Stanley from $58.00 to $59.00 in a report released on Thursday. The firm presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would indicate a potential downside of 4.85% from the company’s current price.
SCG has been the topic of a number of other research reports. BidaskClub raised Scana Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Zacks Investment Research lowered Scana Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Mizuho reissued an “underperform” rating and set a $63.00 price target on shares of Scana Corporation in a report on Friday, July 7th. Barclays PLC reissued an “equal weight” rating and set a $67.00 price target (down previously from $70.00) on shares of Scana Corporation in a report on Sunday, April 23rd. Finally, Gabelli lowered Scana Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $70.44.
Shares of Scana Corporation (SCG) traded down 1.10% during trading on Thursday, hitting $62.01. The stock had a trading volume of 1,094,537 shares. The stock’s 50-day moving average is $65.60 and its 200-day moving average is $67.05. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 14.64 and a beta of 0.25. Scana Corporation has a 12-month low of $60.00 and a 12-month high of $75.92.
Scana Corporation (NYSE:SCG) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $931.67 million. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 earnings per share. On average, equities research analysts expect that Scana Corporation will post $4.14 EPS for the current year.
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A number of large investors have recently made changes to their positions in the stock. CENTRAL TRUST Co raised its stake in shares of Scana Corporation by 5.5% in the first quarter. CENTRAL TRUST Co now owns 1,534 shares of the utilities provider’s stock worth $100,000 after buying an additional 80 shares in the last quarter. Jolley Asset Management LLC raised its stake in shares of Scana Corporation by 3.2% in the first quarter. Jolley Asset Management LLC now owns 1,595 shares of the utilities provider’s stock worth $104,000 after buying an additional 50 shares in the last quarter. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Scana Corporation during the first quarter worth $112,000. Cribstone Capital Management LLC raised its stake in shares of Scana Corporation by 113.7% in the first quarter. Cribstone Capital Management LLC now owns 1,842 shares of the utilities provider’s stock worth $120,000 after buying an additional 980 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Scana Corporation by 0.6% in 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. 67.56% of the stock is currently owned by 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.
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