UPDATE: Williams Capital Initiates SCANA at Buy
Williams Capital is out with its report today on SCANA (NYSE: SCG), initiating SCG at Buy.
In a note to clients, Williams Capital writes, "We initiate coverage on SCANA Corporation with a Buy investment rating and $45.00 target price on July 14, 2011 at a price of $39.31. Our target price reflects a P/E of 13.2x our 2013 recurring EPS estimate and a total return potential of over 19% over the next 12 months, including the current indicated annual dividend yield of 4.94%. With the stock trading at only 11.6x our 2013 recurring EPS estimate and at a premium dividend yield to the electric utility group, the stock appears to reflect a relative valuation discount of about 13% based on our 2013 group estimates."
At the time of posting, shares of SCG were trading at $39.55, up 0.61% from Wednesday's close.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.