Shares of Scana Corp. (NYSE: SCG) were downgraded by analysts at Zacks Investment Research in a note to their investors today. Zacks Investment Research currently has a rating of Hold on the stock. The one-year price target of $75.00 is higher than the opening price of $73.27, resulting a fair amount of other analysts to report on the stock recently. Looking back over the last year, Scana Corp. stock has a high of $76.41. Downgrades occur when analysts believe that the future prospects for the security have diminished from the initial recommendation, often caused by an important and major digression in the company’s operations, future direction or industry.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Yesterday Scana Corp. (NYSE: SCG) shares last traded at $72.63, a decrease of $0.22 from the previous closing price. Opening at $73.27, they varied from $72.63 and $73.38 throughout the day.
Scana Corp. (NYSE: SCG) currently has a market cap of 10.38B.
The stock’s average daily volume is 812,647 shares out of a total float 142,545,000 and some 718,259 shares traded hands yesterday, 62 percent lower than the average. Trading volume is likely to increase in the next few days as momentum traders often use upticks in trading volume to identify large volume accumulation or distribution by institutional investors.
As with all possible breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain substantial teams of analysts that research thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Traders are able to make make more impactful judgments on trades when they follow the activity of professional investors.
With that in mind, Scana Corp. (NYSE: SCG) now has a 50-day MA of $72.06 and 200-day MA of $70.95. It has traded in a 52-week range between $52.27 – 76.41 and today’s last price is 0.05% lower than the 52 week high of $76.41.
Earnings growth is an important factor to look at when investing in stocks and investors look for companies that have been successful at growing their earnings at least 25% or more for the past 3 years.
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