SCANA (SCG) Price Target Cut to $35.00

SCANA (NYSE:SCG) had its price target trimmed by UBS Group from $36.00 to $35.00 in a report released on Friday, www.benzinga.com reports. The brokerage currently has a sell rating on the utilities provider’s stock.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of SCANA from a hold rating to a buy rating and set a $40.00 price objective for the company in a research report on Wednesday, May 30th. Mizuho raised shares of SCANA from a neutral rating to a buy rating in a research report on Friday, June 29th. Williams Capital raised shares of SCANA from a sell rating to a hold rating and set a $33.50 price target on the stock in a research report on Thursday, April 26th. Finally, ValuEngine cut shares of SCANA from a sell rating to a strong sell rating in a research report on Wednesday, May 2nd. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $40.79.

NYSE:SCG opened at $37.13 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.76 and a quick ratio of 0.61. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 3.62 and a beta of 0.18. SCANA has a 1-year low of $33.61 and a 1-year high of $62.22.

SCANA (NYSE:SCG) last posted its quarterly earnings data on Thursday, August 2nd. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.08. The company had revenue of $843.00 million during the quarter, compared to analysts’ expectations of $858.45 million. SCANA had a negative net margin of 5.50% and a positive return on equity of 10.57%. The firm’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 EPS. sell-side analysts expect that SCANA will post 3 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 18th. Stockholders of record on Tuesday, July 10th were given a dividend of $0.1237 per share. The ex-dividend date of this dividend was Monday, July 9th. This represents a $0.49 annualized dividend and a dividend yield of 1.33%. SCANA’s payout ratio is 11.67%.

Hedge funds have recently modified their holdings of the company. Whittier Trust Co. lifted its holdings in SCANA by 53.4% in the second quarter. Whittier Trust Co. now owns 3,835 shares of the utilities provider’s stock worth $206,000 after acquiring an additional 1,335 shares during the last quarter. Aviva PLC lifted its holdings in SCANA by 2.1% in the second quarter. Aviva PLC now owns 69,512 shares of the utilities provider’s stock worth $2,678,000 after acquiring an additional 1,399 shares during the last quarter. Commerce Bank lifted its holdings in SCANA by 25.6% in the first quarter. Commerce Bank now owns 7,825 shares of the utilities provider’s stock worth $294,000 after acquiring an additional 1,595 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in SCANA by 7.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 22,034 shares of the utilities provider’s stock worth $827,000 after acquiring an additional 1,606 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in SCANA by 13.4% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 13,772 shares of the utilities provider’s stock worth $530,000 after acquiring an additional 1,632 shares during the last quarter. 67.01% of the stock is currently owned by institutional investors and hedge funds.

SCANA Company Profile

SCANA Corporation, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity to retail and wholesale customers in the United States. The company owns nuclear, coal, hydro, natural gas, oil, biomass, and solar generating facilities. It also purchases, sells, and transports natural gas; and offers energy-related services.

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