Scana Corporation (NYSE:SCG) – Research analysts at Williams Capital reduced their FY2019 earnings per share estimates for Scana Corporation in a report released on Wednesday. Williams Capital analyst C. Ellinghaus now anticipates that the utilities provider will post earnings of $4.20 per share for the year, down from their prior forecast of $4.79. Williams Capital has a “Sell” rating on the stock.
A number of other brokerages have also weighed in on SCG. BidaskClub raised Scana Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Mizuho restated an “underperform” rating and set a $63.00 price target on shares of Scana Corporation in a research note on Friday, July 7th. Morgan Stanley cut their price objective on Scana Corporation from $70.00 to $67.00 and set an “underweight” rating for the company in a research note on Tuesday, July 11th. Zacks Investment Research downgraded Scana Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) upgraded Scana Corporation from a “sell” rating to a “neutral” rating and cut their price objective for the company from $66.00 to $64.00 in a research note on Thursday, July 20th. Four analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $68.06.
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Shares of Scana Corporation (SCG) opened at 48.49 on Friday. The stock has a 50 day moving average of $61.10 and a 200 day moving average of $65.28. Scana Corporation has a 1-year low of $48.32 and a 1-year high of $75.92. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 11.44 and a beta of 0.27.
Scana Corporation (NYSE:SCG) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1 billion during the quarter, compared to analyst estimates of $931.67 million. During the same quarter in the prior year, the business posted $0.74 EPS. The business’s revenue was up 10.6% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Scana Corporation by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 13,887,779 shares of the utilities provider’s stock valued at $930,620,000 after buying an additional 316,210 shares during the period. BlackRock Inc. raised its holdings in Scana Corporation by 3,558.5% during the 1st quarter. BlackRock Inc. now owns 12,263,023 shares of the utilities provider’s stock valued at $801,389,000 after buying an additional 11,927,826 shares during the period. Artisan Partners Limited Partnership raised its holdings in Scana Corporation by 27.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,794,850 shares of the utilities provider’s stock valued at $120,273,000 after buying an additional 389,431 shares during the period. First Trust Advisors LP raised its holdings in Scana Corporation by 106.6% during the 2nd quarter. First Trust Advisors LP now owns 1,651,461 shares of the utilities provider’s stock valued at $110,664,000 after buying an additional 852,243 shares during the period. Finally, Morgan Stanley raised its holdings in Scana Corporation by 127.7% during the 1st quarter. Morgan Stanley now owns 1,473,057 shares of the utilities provider’s stock valued at $96,264,000 after buying an additional 826,008 shares during the period. Institutional investors own 66.66% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Monday, September 11th will be issued a dividend of $0.6125 per share. The ex-dividend date is Friday, September 8th. This represents a $2.45 annualized dividend and a yield of 5.05%. Scana Corporation’s payout ratio is presently 57.92%.
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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