Scana, Dominion Still Look Cheap Despite Merger's Regulatory Overhang
We are reaffirming our $60 fair value estimate for Scana and our $87 fair value estimate for Dominion Energy after reviewing regulatory documents filed since Dominion announced an all-stock acquisition offer on Jan. 3 worth $14.6 billion, including debt. We are reaffirming our moat and moat trend ratings for both companies.We continue to think Scana is one of the cheapest U.S. utilities in our coverage for two reasons. First, Scana's stock price as of Jan. 8 reflects a 15% discount to the impli...
Dominion Energy is a holding company. Through its subsidiaries , the company is engaged in producing and transporting energy. The company's operations are conducted through its subsidiaries: Virginia Electric and Power Company, which is a regulated public utility that generates, transmits and distributes electricity for sale in Virginia and North Carolina; and Dominion Energy Gas Holdings, LLC, which serves as the intermediate parent company for the company's Federal Energy Regulatory Commission-regulated interstate natural gas transmission pipeline and underground storage systems in the eastern and Rocky Mountain regions, as well as for the liquefied natural gas import/export and storage facility.
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