Intrinsic value of Scana - SCG

Previous Close

$37.20

  Intrinsic Value

$27.95

stock screener

  Rating & Target

sell

-25%

Previous close

$37.20

 
Intrinsic value

$27.95

 
Up/down potential

-25%

 
Rating

sell

We calculate the intrinsic value of SCG stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 5.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  4.30
  4.37
  4.43
  4.49
  4.54
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.80
  4.82
  4.84
  4.86
  4.87
  4.88
  4.89
  4.91
  4.91
  4.92
  4.93
  4.94
  4.94
  4.95
  4.95
  4.96
  4.96
  4.97
Revenue, $m
  4,597
  4,797
  5,010
  5,235
  5,473
  5,724
  5,989
  6,268
  6,562
  6,873
  7,200
  7,544
  7,906
  8,287
  8,688
  9,110
  9,554
  10,021
  10,511
  11,027
  11,569
  12,138
  12,737
  13,366
  14,027
  14,721
  15,450
  16,216
  17,021
  17,867
Variable operating expenses, $m
  3,342
  3,488
  3,642
  3,806
  3,979
  4,161
  4,354
  4,557
  4,771
  4,997
  5,234
  5,484
  5,748
  6,025
  6,316
  6,623
  6,946
  7,285
  7,642
  8,016
  8,410
  8,824
  9,260
  9,717
  10,197
  10,702
  11,232
  11,789
  12,374
  12,989
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  3,342
  3,488
  3,642
  3,806
  3,979
  4,161
  4,354
  4,557
  4,771
  4,997
  5,234
  5,484
  5,748
  6,025
  6,316
  6,623
  6,946
  7,285
  7,642
  8,016
  8,410
  8,824
  9,260
  9,717
  10,197
  10,702
  11,232
  11,789
  12,374
  12,989
Operating income, $m
  1,255
  1,310
  1,368
  1,429
  1,494
  1,563
  1,635
  1,711
  1,792
  1,876
  1,966
  2,059
  2,158
  2,262
  2,372
  2,487
  2,608
  2,736
  2,870
  3,010
  3,158
  3,314
  3,477
  3,649
  3,829
  4,019
  4,218
  4,427
  4,647
  4,878
EBITDA, $m
  2,586
  2,699
  2,818
  2,945
  3,078
  3,220
  3,369
  3,526
  3,691
  3,866
  4,050
  4,243
  4,447
  4,662
  4,887
  5,125
  5,374
  5,637
  5,912
  6,203
  6,507
  6,828
  7,164
  7,518
  7,890
  8,280
  8,691
  9,122
  9,574
  10,050
Interest expense (income), $m
  328
  377
  409
  443
  478
  515
  554
  596
  640
  686
  735
  786
  840
  897
  957
  1,020
  1,086
  1,156
  1,230
  1,307
  1,388
  1,473
  1,563
  1,657
  1,756
  1,860
  1,970
  2,084
  2,205
  2,332
  2,465
Earnings before tax, $m
  878
  900
  925
  951
  979
  1,008
  1,039
  1,071
  1,106
  1,142
  1,179
  1,219
  1,261
  1,305
  1,352
  1,401
  1,452
  1,506
  1,563
  1,622
  1,685
  1,751
  1,820
  1,893
  1,969
  2,049
  2,133
  2,222
  2,315
  2,413
Tax expense, $m
  237
  243
  250
  257
  264
  272
  281
  289
  299
  308
  318
  329
  341
  352
  365
  378
  392
  407
  422
  438
  455
  473
  491
  511
  532
  553
  576
  600
  625
  651
Net income, $m
  641
  657
  675
  694
  715
  736
  758
  782
  807
  833
  861
  890
  921
  953
  987
  1,023
  1,060
  1,099
  1,141
  1,184
  1,230
  1,278
  1,329
  1,382
  1,437
  1,496
  1,557
  1,622
  1,690
  1,761

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  19,560
  20,414
  21,319
  22,276
  23,288
  24,356
  25,483
  26,672
  27,925
  29,246
  30,637
  32,101
  33,643
  35,265
  36,972
  38,767
  40,655
  42,641
  44,728
  46,922
  49,228
  51,652
  54,199
  56,875
  59,687
  62,642
  65,746
  69,006
  72,431
  76,029
Adjusted assets (=assets-cash), $m
  19,560
  20,414
  21,319
  22,276
  23,288
  24,356
  25,483
  26,672
  27,925
  29,246
  30,637
  32,101
  33,643
  35,265
  36,972
  38,767
  40,655
  42,641
  44,728
  46,922
  49,228
  51,652
  54,199
  56,875
  59,687
  62,642
  65,746
  69,006
  72,431
  76,029
Revenue / Adjusted assets
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
  0.235
Average production assets, $m
  13,307
  13,888
  14,504
  15,155
  15,843
  16,570
  17,337
  18,146
  18,998
  19,897
  20,843
  21,839
  22,888
  23,992
  25,153
  26,374
  27,659
  29,010
  30,430
  31,922
  33,491
  35,140
  36,873
  38,694
  40,607
  42,617
  44,728
  46,947
  49,277
  51,724
Working capital, $m
  -138
  -144
  -150
  -157
  -164
  -172
  -180
  -188
  -197
  -206
  -216
  -226
  -237
  -249
  -261
  -273
  -287
  -301
  -315
  -331
  -347
  -364
  -382
  -401
  -421
  -442
  -464
  -486
  -511
  -536
Total debt, $m
  7,582
  8,197
  8,849
  9,538
  10,266
  11,035
  11,847
  12,703
  13,605
  14,556
  15,558
  16,612
  17,722
  18,890
  20,119
  21,412
  22,771
  24,200
  25,703
  27,283
  28,943
  30,688
  32,522
  34,449
  36,474
  38,601
  40,836
  43,183
  45,649
  48,240
Total liabilities, $m
  14,083
  14,698
  15,350
  16,039
  16,767
  17,536
  18,348
  19,204
  20,106
  21,057
  22,059
  23,113
  24,223
  25,391
  26,620
  27,913
  29,272
  30,701
  32,204
  33,784
  35,444
  37,189
  39,023
  40,950
  42,975
  45,102
  47,337
  49,684
  52,150
  54,741
Total equity, $m
  5,477
  5,716
  5,969
  6,237
  6,521
  6,820
  7,135
  7,468
  7,819
  8,189
  8,578
  8,988
  9,420
  9,874
  10,352
  10,855
  11,384
  11,939
  12,524
  13,138
  13,784
  14,463
  15,176
  15,925
  16,712
  17,540
  18,409
  19,322
  20,281
  21,288
Total liabilities and equity, $m
  19,560
  20,414
  21,319
  22,276
  23,288
  24,356
  25,483
  26,672
  27,925
  29,246
  30,637
  32,101
  33,643
  35,265
  36,972
  38,768
  40,656
  42,640
  44,728
  46,922
  49,228
  51,652
  54,199
  56,875
  59,687
  62,642
  65,746
  69,006
  72,431
  76,029
Debt-to-equity ratio
  1.380
  1.430
  1.480
  1.530
  1.570
  1.620
  1.660
  1.700
  1.740
  1.780
  1.810
  1.850
  1.880
  1.910
  1.940
  1.970
  2.000
  2.030
  2.050
  2.080
  2.100
  2.120
  2.140
  2.160
  2.180
  2.200
  2.220
  2.230
  2.250
  2.270
Adjusted equity ratio
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280
  0.280

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  641
  657
  675
  694
  715
  736
  758
  782
  807
  833
  861
  890
  921
  953
  987
  1,023
  1,060
  1,099
  1,141
  1,184
  1,230
  1,278
  1,329
  1,382
  1,437
  1,496
  1,557
  1,622
  1,690
  1,761
Depreciation, amort., depletion, $m
  1,331
  1,389
  1,450
  1,516
  1,584
  1,657
  1,734
  1,815
  1,900
  1,990
  2,084
  2,184
  2,289
  2,399
  2,515
  2,637
  2,766
  2,901
  3,043
  3,192
  3,349
  3,514
  3,687
  3,869
  4,061
  4,262
  4,473
  4,695
  4,928
  5,172
Funds from operations, $m
  1,971
  2,046
  2,126
  2,210
  2,299
  2,393
  2,492
  2,597
  2,707
  2,823
  2,945
  3,074
  3,210
  3,352
  3,502
  3,660
  3,826
  4,000
  4,184
  4,377
  4,579
  4,792
  5,016
  5,251
  5,498
  5,758
  6,030
  6,317
  6,618
  6,934
Change in working capital, $m
  -6
  -6
  -6
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
Cash from operations, $m
  1,977
  2,052
  2,132
  2,217
  2,306
  2,401
  2,500
  2,605
  2,716
  2,832
  2,955
  3,084
  3,220
  3,364
  3,514
  3,673
  3,839
  4,014
  4,198
  4,392
  4,595
  4,809
  5,034
  5,270
  5,518
  5,778
  6,052
  6,340
  6,642
  6,959
Maintenance CAPEX, $m
  -1,276
  -1,331
  -1,389
  -1,450
  -1,516
  -1,584
  -1,657
  -1,734
  -1,815
  -1,900
  -1,990
  -2,084
  -2,184
  -2,289
  -2,399
  -2,515
  -2,637
  -2,766
  -2,901
  -3,043
  -3,192
  -3,349
  -3,514
  -3,687
  -3,869
  -4,061
  -4,262
  -4,473
  -4,695
  -4,928
New CAPEX, $m
  -548
  -582
  -616
  -651
  -688
  -727
  -767
  -809
  -853
  -898
  -946
  -996
  -1,049
  -1,104
  -1,161
  -1,221
  -1,285
  -1,351
  -1,420
  -1,493
  -1,569
  -1,649
  -1,733
  -1,821
  -1,913
  -2,010
  -2,112
  -2,218
  -2,330
  -2,448
Cash from investing activities, $m
  -1,824
  -1,913
  -2,005
  -2,101
  -2,204
  -2,311
  -2,424
  -2,543
  -2,668
  -2,798
  -2,936
  -3,080
  -3,233
  -3,393
  -3,560
  -3,736
  -3,922
  -4,117
  -4,321
  -4,536
  -4,761
  -4,998
  -5,247
  -5,508
  -5,782
  -6,071
  -6,374
  -6,691
  -7,025
  -7,376
Free cash flow, $m
  153
  140
  128
  115
  102
  89
  76
  63
  49
  34
  19
  4
  -12
  -29
  -46
  -64
  -83
  -102
  -123
  -144
  -166
  -189
  -213
  -238
  -265
  -292
  -321
  -351
  -383
  -416
Issuance/(repayment) of debt, $m
  599
  615
  652
  689
  728
  769
  812
  856
  902
  951
  1,001
  1,054
  1,110
  1,168
  1,229
  1,293
  1,359
  1,429
  1,503
  1,580
  1,660
  1,745
  1,834
  1,927
  2,025
  2,127
  2,235
  2,348
  2,466
  2,590
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  599
  615
  652
  689
  728
  769
  812
  856
  902
  951
  1,001
  1,054
  1,110
  1,168
  1,229
  1,293
  1,359
  1,429
  1,503
  1,580
  1,660
  1,745
  1,834
  1,927
  2,025
  2,127
  2,235
  2,348
  2,466
  2,590
Total cash flow (excl. dividends), $m
  752
  755
  779
  804
  831
  859
  888
  919
  951
  985
  1,021
  1,058
  1,098
  1,139
  1,183
  1,229
  1,277
  1,327
  1,380
  1,436
  1,495
  1,556
  1,621
  1,689
  1,760
  1,835
  1,914
  1,996
  2,083
  2,174
Retained Cash Flow (-), $m
  -222
  -239
  -253
  -268
  -283
  -299
  -316
  -333
  -351
  -370
  -389
  -410
  -432
  -454
  -478
  -503
  -529
  -556
  -584
  -614
  -646
  -679
  -713
  -749
  -787
  -827
  -869
  -913
  -959
  -1,007
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  531
  516
  526
  536
  548
  559
  572
  586
  600
  615
  631
  648
  666
  685
  705
  726
  748
  771
  796
  822
  849
  878
  908
  939
  973
  1,008
  1,045
  1,083
  1,124
  1,167
Discount rate, %
  8.40
  8.82
  9.26
  9.72
  10.21
  10.72
  11.26
  11.82
  12.41
  13.03
  13.68
  14.37
  15.09
  15.84
  16.63
  17.46
  18.34
  19.25
  20.22
  21.23
  22.29
  23.40
  24.57
  25.80
  27.09
  28.45
  29.87
  31.36
  32.93
  34.58
PV of cash for distribution, $m
  489
  436
  403
  370
  337
  304
  271
  240
  209
  181
  154
  129
  107
  87
  70
  55
  43
  32
  24
  17
  12
  9
  6
  4
  2
  2
  1
  1
  0
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

SCANA Corporation is a holding company. The Company, through its subsidiaries, is engaged in the generation, transmission, distribution and sale of electricity in South Carolina. The Company operates through segments, including Electric Operations, Gas Distribution, Gas Marketing and All Other. The Company is engaged in the purchase, transmission and sale of natural gas in North Carolina and South Carolina. The Electric Operations segment generates, transmits and distributes electricity. The Company's regulated businesses include subsidiaries, such as South Carolina Electric & Gas Company (SCE&G), South Carolina Fuel Company, Inc. (Fuel Company), South Carolina Generating Company, Inc. (GENCO) and Public Service Company of North Carolina, Incorporated (PSNC Energy). The Company's nonregulated businesses include subsidiaries, such as SCANA Energy Marketing, Inc. (SCANA Energy), ServiceCare, Inc., SCANA Services, Inc. and SCANA Corporate Security Services, Inc.

FINANCIAL RATIOS  of  Scana (SCG)

Valuation Ratios
P/E Ratio 8.9
Price to Sales 1.3
Price to Book 0.9
Price to Tangible Book
Price to Cash Flow 4.9
Price to Free Cash Flow -10.9
Growth Rates
Sales Growth Rate -3.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 36.9%
Cap. Spend. - 3 Yr. Gr. Rate 7.4%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 113.1%
Total Debt to Equity 129.8%
Interest Coverage 4
Management Effectiveness
Return On Assets 4.6%
Ret/ On Assets - 3 Yr. Avg. 4.9%
Return On Total Capital 4.7%
Ret/ On T. Cap. - 3 Yr. Avg. 5.3%
Return On Equity 10.7%
Return On Equity - 3 Yr. Avg. 12%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 38.8%
EBITDA Margin - 3 Yr. Avg. 37.4%
Operating Margin 27.3%
Oper. Margin - 3 Yr. Avg. 26.6%
Pre-Tax Margin 20.5%
Pre-Tax Margin - 3 Yr. Avg. 20.8%
Net Profit Margin 14.1%
Net Profit Margin - 3 Yr. Avg. 14%
Effective Tax Rate 31.3%
Eff/ Tax Rate - 3 Yr. Avg. 32.4%
Payout Ratio 54.6%

SCG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SCG stock intrinsic value calculation we used $4407 million for the last fiscal year's total revenue generated by Scana. The default revenue input number comes from 2017 income statement of Scana. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SCG stock valuation model: a) initial revenue growth rate of 4.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.4%, whose default value for SCG is calculated based on our internal credit rating of Scana, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Scana.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SCG stock the variable cost ratio is equal to 72.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for SCG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Scana.

Corporate tax rate of 27% is the nominal tax rate for Scana. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SCG stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SCG are equal to 289.5%.

Life of production assets of 10 years is the average useful life of capital assets used in Scana operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SCG is equal to -3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $5255 million for Scana - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 143 million for Scana is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Scana at the current share price and the inputted number of shares is $5.3 billion.

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COMPANY NEWS

▶ Regulator seeks more than $1B in sanctions against utility in V.C. Summer nuclear case   [Aug-10-18 03:00PM  American City Business Journals]
▶ 7 Utility Stocks Going Crazy   [09:12AM  InvestorPlace]
▶ SCE&G rates to plunge as judge rejects injunction in V.C. Summer case   [08:20AM  American City Business Journals]
▶ [$$] Scana Fails to Get Nuclear Power Rates Restored   [Aug-06-18 09:03PM  The Wall Street Journal]
▶ SCANA: 2Q Earnings Snapshot   [Aug-02-18 03:26PM  Associated Press]
▶ Shareholders of troubled SC utility approve merger plan   [Jul-31-18 05:16PM  Associated Press]
▶ Utility wants federal judge to stop rate cuts over reactor   [Jul-30-18 03:20PM  Associated Press]
▶ What's at stake as hearing on SC nuke plant charges begins   [07:45AM  American City Business Journals]
▶ SCE&G takes second shot at suit to block nuclear rate cuts   [Jul-27-18 08:11PM  American City Business Journals]
▶ Ruling: SCE&G can challenge $445M rate rollback but must fix suit   [07:09AM  American City Business Journals]
▶ Judge rules on who can and can't intervene in suit over VC Summer rate hikes   [Jul-19-18 11:25AM  American City Business Journals]
▶ Duke Energy CEO's nuclear plan: Hold on and wait for new technology   [Jul-18-18 01:09PM  American City Business Journals]
▶ I Bought This Energy Stock for the Yield, But...   [Jul-11-18 02:35PM  Motley Fool]
▶ 4 High Dividend Stocks in the S&P 500 to Buy for Income   [Jul-03-18 08:45AM  InvestorPlace]
▶ [$$] Scana Sues South Carolina Over Nuclear Rate Cut   [Jul-02-18 06:30PM  The Wall Street Journal]
▶ [$$] Scana Slashes Dividend After Lawmakers Cut Billing Rates   [Jun-28-18 02:11PM  The Wall Street Journal]
▶ [$$] South Carolina Utility Flags Bankruptcy Risk   [Jun-25-18 04:44PM  The Wall Street Journal]
▶ Best-In-Class Dividend Stocks   [Jun-11-18 09:02AM  Simply Wall St.]
▶ 2 Dividend Stocks With High Yields Too Unsafe to Chase   [Jun-07-18 07:33AM  Motley Fool]
▶ Top NYSE Dividend Paying Companies   [May-10-18 09:02AM  Simply Wall St.]
▶ South Carolina's state utility paid bonuses to private execs   [May-09-18 08:10PM  Associated Press]
▶ Dominion Energy Inc. Generates High-End Results   [Apr-27-18 11:45AM  Motley Fool]
▶ Scana: 1Q Earnings Snapshot   [07:54AM  Associated Press]
▶ The Latest: S Carolina House takes risk, passes own rate cut   [Apr-25-18 04:02PM  Associated Press]
▶ PSNC Energy anchors new interstate pipeline planned for North Carolina   [Apr-12-18 05:38PM  American City Business Journals]
▶ 10 Highest Dividend Yielding Stocks   [06:32AM  Motley Fool]
▶ New Strong Sell Stocks for April 5th   [Apr-05-18 06:10AM  Zacks]
▶ Here's why stocks are tanking and what traders are watching today   [Mar-19-18 11:01AM  Yahoo Finance Video]
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