At Regulators' First Glance, No Surprises; Dominion and Scana Still Look Attractive
We are reaffirming our $60 fair value estimate for Scana and our $87 fair value estimate for Dominion Energy after South Carolina regulators received their first detailed look at the $14.6 billion offer that Dominion made on Jan. 3 to acquire Scana. We are reaffirming our moat and moat trend ratings for both companies.We continue to think both companies are among the most attractive values in our U.S. utilities coverage. We also think Scana's 15% discount to Dominion's implied purchase price ba...
SCANA is a holding company. Through its regulated subsidiaries, the company is engaged in the generation, transmission, distribution and sale of electricity in South Carolina and in the purchase, transmission and sale of natural gas in North Carolina and South Carolina. Through its non-regulated subsidiary, the company markets natural gas to retail customers in Georgia and to wholesale customers in the southeast. In addition, the company's subsidiary, SCANA Services, Inc. provides primarily administrative and management services to the company's other subsidiaries.
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