In a report released today, Paul Fremont from Mizuho Securities upgraded Scana Corp (NYSE: SCG) to Buy, with a price target of $43. The company’s shares closed yesterday at $39.26.
According to TipRanks.com, Fremont is a 4-star analyst with an average return of 5.6% and a 69.6% success rate. Fremont covers the Utilities sector, focusing on stocks such as Public Service Enterprise, El Paso Electric Company, and American Electric Power.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Scana Corp with a $42 average price target.
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Based on Scana Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $843 million and net profit of $8 million. In comparison, last year the company earned revenue of $1.08 billion and had a net profit of $34 million.
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SCANA Corp. is a holding company, which is engaged in the generation, transmission, distribution and sale of electricity and natural gas. It also conducts other energy-related business and provides fiber optic communications in South Carolina. The company was founded in 1846 and is headquartered in Cayce, SC.
