Energy holding company,
) reported strong first-quarter results, driven by improved
electric margins stemming from customer growth and rate
increases, partially offset by higher expenses.
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SCANA CORP (SCG): Free Stock Analysis Report
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Earnings per share came in at $1.11, ahead of the Zacks Consensus
Estimate of $1.03 and the previous year's 91 cents. The company's
total operating revenue increased 18.4% year over year to
$1,311.0 million and was 10.3% above the Zacks Consensus
South Carolina Electric & Gas Company
Earnings from this segment, which is also SCANA's principal
subsidiary, were 68 cents per share, up 23.6% from the year-ago
level of 55 cents per share. The segment experienced higher
margins on the back of improved base rate and client base. To
some extent, these factors were offset by higher expenses and
As of Mar 31, 2013, natural gas and electric customers of
SCE&G inched up 1.8% and 0.8% from the year-ago period to
325,000 and 673,000, respectively.
This segment achieved earnings of 24 cents per share during the
quarter, flat from the year-ago period. Customer-fueled margin
growth was canceled out by increase in operations, maintenance
and depreciation expenses. At quarter end, PSNC Energy's customer
base increased 2.2% year over year to 500,000.
The segment - housing SCANA's retail natural gas marketing
business in Georgia - reported a profit of 16 cents per share, up
from the year-ago quarter level of 9 cents. This increase has
been aided by the increase in throughput.
Corporate and Other, Net:
The profit in this business segment remains the same as that in
the first quarter of the previous year.
SCANA has reaffirmed preliminary estimates of its 2013 earnings
of $3.25-$3.45 per share.
Stocks to Consider
SCANA currently carries a Zacks Rank #3 (Hold), implying that it
is expected to be in line with the broader U.S. equity market
over the next one to three months.
Meanwhile, one can look at electric utilities like
Brookfield Infrastructure Partners LP
Empresa Nacional de Electricidad SA
Huaneng Power International Inc
) as attractive investments. All these firms sport a Zacks Rank
#1 (Strong Buy).