Scana Corporation (SCG) Given “Underweight” Rating at Morgan Stanley

Scana Corporation (NYSE:SCG)‘s stock had its “underweight” rating reiterated by research analysts at Morgan Stanley in a report issued on Wednesday. They presently have a $45.00 target price on the utilities provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 7.06% from the stock’s current price.

SCG has been the topic of a number of other research reports. BidaskClub upgraded Scana Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Gabelli downgraded Scana Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded Scana Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Williams Capital downgraded Scana Corporation from a “buy” rating to a “hold” rating and cut their target price for the company from $80.00 to $70.00 in a research report on Monday, September 18th. Finally, Goldman Sachs Group, Inc. (The) raised Scana Corporation from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $66.00 to $64.00 in a report on Thursday, July 20th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $66.50.

Scana Corporation (NYSE SCG) traded down 0.27% on Wednesday, reaching $48.42. The company’s stock had a trading volume of 2,326,698 shares. The company has a 50-day moving average price of $58.01 and a 200 day moving average price of $64.18. The company has a market cap of $6.92 billion, a P/E ratio of 11.43 and a beta of 0.23. Scana Corporation has a 12 month low of $47.80 and a 12 month high of $74.99.

Scana Corporation (NYSE:SCG) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.85 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 company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $931.67 million. During the same period last year, the firm earned $0.74 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts anticipate that Scana Corporation will post $4.17 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of SCG. Sigma Planning Corp raised its holdings in shares of Scana Corporation by 0.3% during the 2nd quarter. Sigma Planning Corp now owns 3,266 shares of the utilities provider’s stock worth $219,000 after buying an additional 10 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Scana Corporation by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,235 shares of the utilities provider’s stock worth $145,000 after buying an additional 13 shares during the last quarter. ING Groep NV lifted its position in shares of Scana Corporation by 0.4% during the 2nd quarter. ING Groep NV now owns 7,320 shares of the utilities provider’s stock worth $491,000 after buying an additional 26 shares during the last quarter. Gateway Investment Advisers LLC lifted its position in shares of Scana Corporation by 0.3% during the 2nd quarter. Gateway Investment Advisers LLC now owns 9,669 shares of the utilities provider’s stock worth $648,000 after buying an additional 28 shares during the last quarter. Finally, Polaris Greystone Financial Group LLC lifted its position in shares of Scana Corporation by 0.8% during the 2nd quarter. Polaris Greystone Financial Group LLC now owns 4,665 shares of the utilities provider’s stock worth $313,000 after buying an additional 35 shares during the last quarter. Institutional investors own 66.66% 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.

Analyst Recommendations for Scana Corporation (NYSE:SCG)

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