Scana Corporation (SCG) Expected to Post Earnings of $1.13 Per Share

SCANA Corp

Gateway Investment Advisers LLC now owns 9,669 shares of the utilities provider's stock worth $648,000 after purchasing an additional 28 shares in the last quarter. State Common Retirement Fund has 309,200 shares for 0.03% of their portfolio.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Comerica Bank now owns 64,298 shares of the utilities provider's stock worth $4,323,000 after purchasing an additional 534 shares during the last quarter. It fall, as 46 investors sold SCANA Corporation shares while 161 reduced holdings.

SCANA Corporation (NYSE:SCG)'s latest quote $50.99 $-0.05 -0.45% will find technical support in $49.85 a share and a breakdown below this region would be a significantly bearish signal for SCANA Corporation traders. ING Groep NV now owns 7,320 shares of the utilities provider's stock worth $491,000 after purchasing an additional 26 shares in the last quarter. Scana Corporation posted earnings of $1.32 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 14.4%. Comerica Bank lifted its stake in Scana Corporation by 0.8% in the first quarter. Guggenheim downgraded SCANA Corporation (NYSE:SCG) on Friday, July 28 to "Sell" rating. Cap Advsr Ltd Liability Com stated it has 0.02% in SCANA Corporation (NYSE:SCG). When looking at the past five sessions, the stock returned -10.83% losses and is down by -23.36% compared with its 200-day moving average of $65.28.

SCANA Corporation (SCG) remained successful in beating the consensus-estimated $0.74 as it actually earned $0.85 per share in its last reported financial results.

Analysts believe that the company has the potential to earn average revenue of $1.15 Billion for the current quarter. Scana Corporation had a return on equity of 10.50% and a net margin of 13.99%. Scana Corporation's revenue was up 10.6% on a year-over-year basis. Following this news, S's share price fell $1.32, or 2.13%, to close at $60.69 on August 11, 2017. Stockholders of record on Monday, September 11th will be paid a dividend of $0.6125 per share.

According to a recent filing, the short interest in SCANA rose 15% on September 15, 2017. This represents a $2.45 annualized dividend and a yield of 5.05%. SCANA Corporation (NYSE:SCG) has declined 4.13% since September 28, 2016 and is downtrending.

TRADEMARK VIOLATION WARNING: "UBS Asset Management Americas Inc". Zacks' earnings per share calculations are an average based on a survey of sell-side research firms that cover SCANA.

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SCG has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Scana Corporation from a "hold" rating to a "sell" rating in a report on Wednesday, July 12th. Mizuho reissued an "underperform" rating and issued a $59.50 price target (up previously from $57.00) on shares of Scana Corporation in a research note on Tuesday, August 1st. BidaskClub raised Scana Corporation from a "hold" rating to a "buy" rating in a report on Tuesday, June 20th. Finally, Morgan Stanley upped their target price on Scana Corporation from $58.00 to $59.00 and gave the stock an "underweight" rating in a research report on Thursday, August 10th. Williams Capital Group downgraded the stock to "Hold" rating in Monday, September 18 report. The company now has an average rating of "Hold" and a consensus target price of $68.06.

Among 8 analysts covering SCANA (NYSE:SCG), 1 have Buy rating, 2 Sell and 5 Hold. The Company, through its subsidiaries, is engaged in the generation, transmission, distribution and sale of electricity in SC. The Firm operates through divisions, including Electric Operations, Gas Distribution, Gas Marketing and All Other.

Also yesterday, South Carolina's Public Service Commission deferred action on a petition by the state's customer advocate to suspend ~$37M per month in rates South Carolina Electric & Gas charges customers for costs at the failed V.C. Summer plant and tasked a hearing officer to set up a schedule for considering the petition.

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