Scana Corporation (NYSE:SCG) Upgraded to “Sell” by BidaskClub

BidaskClub upgraded shares of Scana Corporation (NYSE:SCG) from a strong sell rating to a sell rating in a research report released on Monday, July 24th.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Scana Corporation from a hold rating to a sell rating in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) upgraded Scana Corporation from a sell rating to a neutral rating and decreased their price objective for the company from $66.00 to $64.00 in a research report on Thursday, July 20th. Mizuho restated an underperform rating and set a $63.00 price objective on shares of Scana Corporation in a research report on Friday, July 7th. Morgan Stanley cut their target price on Scana Corporation from $70.00 to $67.00 and set an underweight rating on the stock in a research note on Tuesday, July 11th. Finally, Barclays PLC reaffirmed an equal weight rating and set a $67.00 target price (down previously from $70.00) on shares of Scana Corporation in a research note on Sunday, April 23rd. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Scana Corporation has a consensus rating of Hold and a consensus target price of $70.44.

Scana Corporation (NYSE SCG) opened at 60.83 on Monday. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 14.36 and a beta of 0.25. Scana Corporation has a 12 month low of $60.00 and a 12 month high of $75.92. The stock’s 50 day moving average price is $64.08 and its 200 day moving average price is $66.68.

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

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The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders 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 dividend on an annualized basis and a yield of 4.03%. Scana Corporation’s dividend payout ratio is currently 57.68%.

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Scana Corporation by 2.3% in the second quarter. Vanguard Group Inc. now owns 13,887,779 shares of the utilities provider’s stock worth $930,620,000 after buying an additional 316,210 shares in the last quarter. BlackRock Inc. raised its stake in shares of Scana Corporation by 3,558.5% in the first 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 in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Scana Corporation by 27.7% in the second 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 in the last quarter. First Trust Advisors LP raised its stake in shares of Scana Corporation by 106.6% in the second 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 in the last quarter. Finally, Morgan Stanley raised its stake in shares of Scana Corporation by 127.7% in the first 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 in the last quarter. Institutional investors own 67.38% of the company’s stock.

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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