Scana Corporation (SCG) Upgraded to Buy by Edward Jones
Several other research firms also recently weighed in on SCG. Williams Capital cut their price target on Scana Corporation from $70.00 to $50.00 and set a hold rating on the stock in a research note on Wednesday, September 27th. Goldman Sachs Group, Inc. (The) upgraded Scana Corporation from a sell rating to a neutral rating and cut their price target for the stock from $66.00 to $64.00 in a research note on Thursday, July 20th. BidaskClub upgraded Scana Corporation from a strong sell rating to a sell rating in a research note on Monday, July 24th. Mizuho upgraded Scana Corporation from an underperform rating to a neutral rating and set a $58.50 price target on the stock in a research note on Monday, August 28th. Finally, Gabelli downgraded Scana Corporation from a buy rating to a hold rating in a research note on Friday, July 28th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $61.44.
Scana Corporation (SCG) traded up $0.66 during trading on Monday, hitting $44.60. The company had a trading volume of 2,035,100 shares, compared to its average volume of 1,326,615. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.88 and a quick ratio of 0.77. The stock has a market cap of $6,340.00, a P/E ratio of 10.80, a P/E/G ratio of 2.99 and a beta of 0.21. Scana Corporation has a 52 week low of $41.15 and a 52 week high of $74.99.
Scana Corporation (NYSE:SCG) last posted its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.01). The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Scana Corporation had a return on equity of 10.05% and a net margin of 10.45%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 EPS. research analysts predict that Scana Corporation will post 4.19 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Tuesday, December 12th will be given a $0.6125 dividend. The ex-dividend date of this dividend is Monday, December 11th. This represents a $2.45 annualized dividend and a yield of 5.49%. Scana Corporation’s dividend payout ratio (DPR) is presently 77.53%.
A number of hedge funds have recently added to or reduced their stakes in SCG. Willingdon Wealth Management bought a new position in shares of Scana Corporation during the 3rd quarter valued at $112,000. WFG Advisors LP lifted its holdings in shares of Scana Corporation by 60.6% during the 2nd quarter. WFG Advisors LP now owns 1,747 shares of the utilities provider’s stock valued at $117,000 after buying an additional 659 shares during the period. Amica Retiree Medical Trust lifted its holdings in shares of Scana Corporation by 219.1% during the 3rd quarter. Amica Retiree Medical Trust now owns 2,693 shares of the utilities provider’s stock valued at $131,000 after buying an additional 1,849 shares during the period. Jolley Asset Management LLC lifted its holdings in shares of Scana Corporation by 25.1% during the 2nd quarter. Jolley Asset Management LLC now owns 1,995 shares of the utilities provider’s stock valued at $134,000 after buying an additional 400 shares during the period. Finally, Fiduciary Trust Co. bought a new position in shares of Scana Corporation during the 2nd quarter valued at $164,000. 68.12% of the stock is currently owned by institutional investors and hedge funds.
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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