NEW YORK (TheStreet) -- Shares of SCANA (SCG) are down by 1.29% to $71.32 in pre-market trading on Wednesday, as Morgan Stanley downgraded the company's stock rating to "underweight" from "equal weight."
SCANA is an energy holding company based in Cayce, SC, whose subsidiaries engage in the generation, transmission, distribution and sale of electricity, and the purchase, sale and transportation of natural gas in North Carolina and South Carolina.
Morgan Stanley believes that the financial outlook of the company is weakening, especially as SCANA faces the possibility of further delays in the nuclear construction side of its business.
The firm maintains its $67 price target for SCANA.
Separately, TheStreet Ratings team rates SCANA as a "buy" with a ratings score of A.
This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that TheStreet Ratings team rates. The company's strengths can be seen in multiple areas, such as its solid stock price performance and expanding profit margins. TheStreet Ratings feels its strengths outweigh the fact that the company has had sub par growth in net income.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: SCG