UPDATE: Williams Capital Group Downgrades SCANA Corporation to Hold on Valuation
Williams Capital Group lowered its rating on SCANA Corporation (NYSE: SCG) from Buy to Hold following share appreciation, but raised its price target from $45 to $51.
Williams Capital Group noted, "While we find SCANA's fundamental growth attractive, the impressive capital appreciation in the stock over the past 12 months leaves the stock less attractive. The premium dividend yield has returned to roughly the industry norm. Including the 4.0% current indicated dividend yield, our projected total return potential of roughly 7% appears less attractive, in our view."
SCANA Corporation closed at $49.24 on Friday.
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