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SCANA Expects Hurricane Florence to Hit Its Service Area

Zacks Equity Research
Best Buy (BBY) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

South Carolina Electric & Gas (SCE&G), an affiliate of SCANA Corporation SCG, alerted its customers of Hurricane Florence.

The company announced that its service territory might face flooding along with strong wind and heavy rains. This will likely lead to continued outage of electricity, SCE&G warned.

SCE&G is preparing to deal with the expected outages with 2,900 personnel. In fact, the company is well placed to face such severe event with its extensive overhead and underground distribution lines which spread across 18,000 miles.

The company added that along with safety of customers, employees’ security is also paramount to it. If there are outages, the restoration work will start immediately after ensuring the crews’ safety.  

Based in Cayce, SC, SCANA is primarily engaged in generating and distributing electricity to thousands of customers. However, the stock slipped 40.1% over the past year, underperforming the industry’s 5.3% decline.

 

SCANA currently carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players in the energy space are TC PipeLines LP TCP, Petroleo Brasileiro S.A. or Petrobras PBR and Helix Energy Solutions Group, Inc. HLX, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

TC PipeLines has an average positive earnings surprise of 3.7% for the last four quarters.

Petrobras’ bottom line beat the Zacks Consensus Estimate in three of the trailing four quarters, the average beat being 10.4%.

Helix Energy’s earnings exceeded the consensus mark in three of the last four quarters, the average earnings surprise being 66.7%.

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SCANA Corporation (SCG) : Free Stock Analysis Report
 
TC PipeLines, LP (TCP) : Free Stock Analysis Report
 
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Helix Energy Solutions Group, Inc. (HLX) : Free Stock Analysis Report
 
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