Wells Fargo & Co Lowers SCANA (SCG) to Market Perform

Wells Fargo & Co cut shares of SCANA (NYSE:SCG) from an outperform rating to a market perform rating in a report released on Friday morning, Marketbeat.com reports. They currently have $51.00 price objective on the utilities provider’s stock.

A number of other brokerages also recently issued reports on SCG. Williams Capital reduced their price objective on shares of SCANA from $70.00 to $50.00 and set a hold rating on the stock in a research report on Wednesday, September 27th. Zacks Investment Research downgraded shares of SCANA from a hold rating to a strong sell rating in a research report on Tuesday, January 2nd. Bank of America initiated coverage on shares of SCANA in a research report on Tuesday, October 24th. They set a neutral rating and a $49.00 price objective on the stock. ValuEngine raised shares of SCANA from a hold rating to a buy rating in a research report on Friday, December 1st. Finally, TheStreet downgraded shares of SCANA from a b- rating to a c+ rating in a research report on Monday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $60.28.

Shares of SCANA (NYSE SCG) traded up $0.50 during trading on Friday, reaching $45.52. 3,235,935 shares of the company’s stock were exchanged, compared to its average volume of 9,257,550. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 1.12. The stock has a market cap of $6,480.00, a P/E ratio of 14.41, a P/E/G ratio of 4.13 and a beta of 0.20. SCANA has a fifty-two week low of $37.10 and a fifty-two week high of $72.89.

SCANA (NYSE:SCG) last issued its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.01). The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. SCANA had a net margin of 10.45% and a return on equity of 10.05%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.32 earnings per share. sell-side analysts expect that SCANA will post 4.18 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Tuesday, December 12th were issued a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date was Monday, December 11th. SCANA’s dividend payout ratio (DPR) is presently 77.53%.

Hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank boosted its holdings in shares of SCANA by 25.6% during the 2nd quarter. Toronto Dominion Bank now owns 48,327 shares of the utilities provider’s stock valued at $3,238,000 after buying an additional 9,840 shares in the last quarter. Swiss National Bank boosted its holdings in shares of SCANA by 1.1% during the 3rd quarter. Swiss National Bank now owns 597,212 shares of the utilities provider’s stock valued at $28,959,000 after buying an additional 6,300 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its holdings in shares of SCANA by 23.2% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 48,016 shares of the utilities provider’s stock valued at $3,218,000 after buying an additional 9,028 shares in the last quarter. Tandem Investment Advisors Inc. boosted its holdings in shares of SCANA by 4.8% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 70,569 shares of the utilities provider’s stock valued at $4,729,000 after buying an additional 3,222 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of SCANA by 5.9% during the 2nd quarter. California Public Employees Retirement System now owns 281,200 shares of the utilities provider’s stock valued at $18,843,000 after buying an additional 15,700 shares in the last quarter. Hedge funds and other institutional investors own 66.70% of the company’s stock.

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About SCANA

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.

Analyst Recommendations for SCANA (NYSE:SCG)

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