Nuclear Rate Cut Legislation Weighs on Scana's Earnings, but Core Growth Still Strong
We are reaffirming our $56 per share fair value estimate for Scana after the company reported earning $0.47 per share in the third quarter, down from $1.16 per share on an adjusted basis in the third quarter of 2017. We continue to believe Scana offers the most attractive risk-reward opportunity in the utilities sector with the stock trading at a 33% discount to our fair value estimate and a 29% discount to the implied value of Dominion Energy's proposed acquisition terms as of late October.The...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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