SCANA (SCG) Downgraded by Wells Fargo & Co to Market Perform
Wells Fargo & Co lowered shares of SCANA (NYSE:SCG) from an outperform rating to a market perform rating in a research report sent to investors on Friday morning, MarketBeat.com reports. They currently have $51.00 target price on the utilities provider’s stock.
A number of other equities research analysts have also commented on SCG. Zacks Investment Research lowered shares of SCANA from a hold rating to a strong sell rating in a research note on Tuesday, January 2nd. Williams Capital lowered shares of SCANA from a hold rating to a sell rating in a research note on Friday, September 29th. Morgan Stanley reaffirmed an underweight rating and issued a $45.00 price objective on shares of SCANA in a research note on Wednesday, October 4th. ValuEngine raised shares of SCANA from a hold rating to a buy rating in a research note on Friday, December 1st. Finally, TheStreet lowered shares of SCANA from a b- rating to a c+ rating in a research note on Monday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. SCANA presently has an average rating of Hold and a consensus target price of $60.28.
SCANA (NYSE:SCG) traded up $0.50 on Friday, reaching $45.52. 3,236,600 shares of the company’s stock were exchanged, compared to its average volume of 8,053,380. SCANA has a 52-week low of $37.10 and a 52-week high of $72.89. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 1.12. The company has a market cap of $6,450.00, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 4.13 and a beta of 0.20.
SCANA (NYSE:SCG) last posted its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.16 EPS for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.01). SCANA had a net margin of 10.45% and a return on equity of 10.05%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted $1.32 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. research analysts expect that SCANA will post 4.18 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Tuesday, December 12th were given a dividend of $0.6125 per share. The ex-dividend date of this dividend was Monday, December 11th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 5.38%. SCANA’s payout ratio is presently 77.53%.
Several institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC acquired a new position in shares of SCANA during the 3rd quarter valued at $459,000. Public Employees Retirement System of Ohio lifted its position in shares of SCANA by 10.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 64,007 shares of the utilities provider’s stock valued at $3,104,000 after acquiring an additional 6,005 shares during the period. GSA Capital Partners LLP acquired a new position in shares of SCANA during the 3rd quarter valued at $595,000. California Public Employees Retirement System lifted its position in shares of SCANA by 9.2% during the 3rd quarter. California Public Employees Retirement System now owns 307,041 shares of the utilities provider’s stock valued at $14,888,000 after acquiring an additional 25,841 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of SCANA during the 3rd quarter valued at $3,113,000. Institutional investors own 66.70% of the company’s stock.
SCANA 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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