SCANA (SCG) Shares Up 0% Following Better-Than-Expected Earnings

SCANA Co. (NYSE:SCG)’s share price shot up 0% on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $40.10 and last traded at $39.93. 2,590,000 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 2,470,000 shares. The stock had previously closed at $39.93.

The utilities provider reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. SCANA had a net margin of 10.45% and a return on equity of 10.05%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 earnings per share.

How to Become a New Pot Stock Millionaire

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Monday, March 12th will be paid a $0.6125 dividend. This represents a $2.45 annualized dividend and a dividend yield of 6.14%. SCANA’s dividend payout ratio (DPR) is 77.53%.

Several research firms have commented on SCG. Zacks Investment Research downgraded shares of SCANA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 2nd. ValuEngine downgraded shares of SCANA from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Mizuho restated a “hold” rating and issued a $46.50 price target on shares of SCANA in a research note on Thursday, January 11th. Guggenheim upgraded shares of SCANA from a “sell” rating to a “neutral” rating in a research note on Thursday, November 16th. They noted that the move was a valuation call. Finally, UBS Group began coverage on shares of SCANA in a research note on Friday, February 2nd. They issued a “sell” rating and a $38.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, eight have given 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 $52.06.

Several institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its position in shares of SCANA by 38.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 11,926 shares of the utilities provider’s stock worth $474,000 after purchasing an additional 3,312 shares during the last quarter. OLD Republic International Corp lifted its position in shares of SCANA by 139.8% during the 4th quarter. OLD Republic International Corp now owns 790,800 shares of the utilities provider’s stock worth $31,458,000 after purchasing an additional 461,000 shares during the last quarter. Sawtooth Solutions LLC purchased a new stake in shares of SCANA during the 4th quarter worth $938,000. Sterling Capital Management LLC purchased a new stake in shares of SCANA during the 4th quarter worth $775,000. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of SCANA during the 4th quarter worth $1,755,000. 64.10% of the stock is owned by institutional investors and hedge funds.

The firm has a market cap of $5,690.00, a PE ratio of 12.64, a PEG ratio of 3.42 and a beta of 0.20. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 1.12.

ILLEGAL ACTIVITY WARNING: “SCANA (SCG) Shares Up 0% Following Better-Than-Expected Earnings” was originally posted by Markets Daily and is owned by of Markets Daily. If you are viewing this story on another site, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this story can be read at https://www.themarketsdaily.com/2018/02/23/scana-scg-shares-up-0-following-better-than-expected-earnings.html.

SCANA Company Profile

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.

Receive News & Ratings for SCANA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SCANA and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply