Williams Capital Group raised its rating on SCANA Corporation SCG from Hold to Buy with a reiterated $51 price target.
Williams Capital Group commented, "Higher earnings were a result of higher electric gross margin related to the most recent rate increases, including the 2011 BLRA nuclear construction rate increase, and lower O&M expense which more than offset equity dilution of roughly $0.03 per share, higher interest, and D&A expenses. Lower Corporate/Other segment drag also contributed materially to the improved Q312 results. While we are not revising our 2012-2013 estimates, we are initiating a 2014 estimate of $3.56."
SCANA Corporation closed at $46.63 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in