UPDATE: Williams Capital Group Upgrades SCANA Corporation to Buy on In-Line Q3
Williams Capital Group raised its rating on SCANA Corporation (NYSE: 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.
Latest Ratings for SCG
|Nov 2016||Guggenheim||Initiates Coverage On||Buy|
|Jun 2016||Morgan Stanley||Downgrades||Equal-Weight||Underweight|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.