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SCG

Scana

$44.09

0.42 (0.96%)

, D

Dominion

$73.10

-0.27 (-0.37%)

13:20
11/25/18
11/25
13:20
11/25/18
13:20

Scana, SCE&G settle class action lawsuit related to V.C. Summer Nuclear costs

Plaintiffs Richard Lightsey, LeBrian Cleckley, and Phillip Cooper have reached an agreement with Scana (SCG) and South Carolina Electric & Gas Company to settle a lawsuit filed in the state Court of Common Pleas in Hampton County on behalf of themselves and current and former SCE&G electric customers. The settlement addresses these customers' claims and the Attorney General's arguments related to the Base Load Review Act. Scana and SCE&G deny the allegations made in the lawsuit, but have agreed to resolve this matter. Scana and SCE&G have agreed to a Common Benefit Fund comprised of the following amounts, to be distributed to the class members: a credit of up to $2B in future electric rate relief will inure to the benefit of the Common Benefit Fund in favor of class members over a period of time established in the proceeding pending before the Public Service Commission of South Carolina; and a cash payment of $115M, which will include the full value of the Scana rabbi trust funded in January 2018 that was created in whole or in part for executive change-in-control payments; and transfer of SCE&G owned real estate or sales proceeds from the sale of real properties, including among others, the Ramsey Grove Plantation; the original Charleston Gas & Light Building at 141 Meeting Street in Charleston; and certain Otarre properties in Cayce. Distribution of any settlement funds is subject to court approval, as well as a final order by the PSC approving a merger between Scana Corporation and Dominion Energy (D), and a closing of the proposed merger between the parties.

SCG

Scana

$44.09

0.42 (0.96%)

D

Dominion

$73.10

-0.27 (-0.37%)

SCG Scana
$44.09

0.42 (0.96%)

09/27/18
WOLF
09/27/18
INITIATION
WOLF
Outperform
Scana resumed with an Outperform at Wolfe Research
09/28/18
UBSW
09/28/18
UPGRADE
Target $41
UBSW
Neutral
Scana upgraded to Neutral from Sell at UBS
UBS analyst Daniel Ford upgraded Scana to Neutral and raised his price target for the shares to $41 from $35. The analyst says the South Carolina Office of Regulatory Staff's prefiled testimony to the Public Service Commission is more constructive than his expectations. He notes the ORS is recommending a disallowance of $1.87B in new nuclear development costs.
10/09/18
MZHO
10/09/18
UPGRADE
Target $43
MZHO
Buy
Scana upgraded to Buy from Neutral at Mizuho
Mizuho analyst Paul Fremont upgraded Scana to Buy with an unchanged price target of $43. The analyst believes the South Carolina Public Service Commission will adopt the Office of Regulatory Staff ecommendation to securitize $2.6B in the abandonment proceeding. This securitization scenario would provide an attractive setting for future M&A bidders if the Dominion merger proposal is terminated, Fremont tells investors in a research note.
10/09/18
JPMS
10/09/18
UPGRADE
Target $78
JPMS
Overweight
Dominion upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Christopher Turnure upgraded Dominion Energy (D) to Overweight and raised his price target for the shares to $78 from $75. The company is entering a period of balance sheet improvement, de-risked business mix and overall simplification, with or without the Scana (SCG) assets, Turnure tells investors in a research note. Further, the analyst notes that the shares trade at a 3% discount to large cap peers.
D Dominion
$73.10

-0.27 (-0.37%)

09/20/18
SBSH
09/20/18
DOWNGRADE
SBSH
Neutral
Dominion Energy Midstream downgraded to Neutral from Buy at Citi
Citi downgraded Dominion Energy Midstream Partners (DM) to Neutral with a $17.75 price target after Dominion Energy (D) made an offer to acquire all of its outstanding common units not already owned in exchange for Dominion Energy common shares. The fixed exchange ratio offer of 0.2468 Dominion Energy common shares per Dominion Energy Midstream common unit equates to a per-unit valuation of $17.75.
10/09/18
10/09/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Walmart (WMT) upgraded to Buy from Hold at Deutsche Bank with analyst Paul Trussell saying the retailer is reaping returns on the many years of investment in e-commerce and customer service. 2. Cree (CREE) upgraded to Neutral from Underweight at JPMorgan with analyst Paul Coster saying he sees a more balanced risk/reward following the recent underperformance of the shares. 3. Amphenol (APH) upgraded to Buy from Neutral at Goldman Sachs with analyst Mark Delaney saying the company's "best in class" execution and "diverse" end markets position it well in a tougher cyclical environment. 4. Dominion (D) upgraded to Overweight from Neutral at JPMorgan with analyst Christopher Turnure saying the company is entering a period of balance sheet improvement, de-risked business mix and overall simplification, with or without the Scana (SCG) assets. 5. Baker Hughes (BHGE) upgraded to Buy from Hold at Jefferies with analyst Brad Handler saying earnings power of $4 per share next decade "seems tangible," as is free cash flow conversion of greater than 90% of estimated earnings. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/22/18
LEHM
10/22/18
INITIATION
Target $78
LEHM
Overweight
Dominion initiated with an Overweight at Barclays
Barclays analyst Eric Beaumont started Dominion Energy with an Overweight rating and $78 price target. The analyst believes the company's underlying core 6%-8% earnings growth, current valuation, and 4.6% dividend yield "provide adequate compensation for its perceived earnings risk, modest commodity market exposure, and complexity." He thinks concerns related to ACP, Scana, and Millstone are more than priced in.

TODAY'S FREE FLY STORIES

BIIB

Biogen

$294.17

5.51 (1.91%)

12:33
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  • 04

    Dec

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    Dec

BIIB

Biogen

$293.68

5.02 (1.74%)

12:26
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    Dec

FTCH

Farfetch

$9.73

0.335 (3.57%)

12:25
11/22/19
11/22
12:25
11/22/19
12:25
Options
Farfetch Limited call volume above normal and directionally bullish »

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  • 02

    Dec

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$310.63

0.34 (0.11%)

12:18
11/22/19
11/22
12:18
11/22/19
12:18
General news
Ray Dalio says WSJ wrong, Bridgewater not betting market will fall »

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SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$310.63

0.34 (0.11%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
11/22/19
11/22
12:17
11/22/19
12:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
11/22/19
11/22
12:16
11/22/19
12:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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DELL

Dell Technologies

$53.30

-0.425 (-0.79%)

12:15
11/22/19
11/22
12:15
11/22/19
12:15
Options
Dell Technologies put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 26

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    Dec

12:15
11/22/19
11/22
12:15
11/22/19
12:15
General news
Treasury Action: the markets are mixed with no strong directional drivers »

Treasury Action: the…

RF

Regions Financial

$16.68

0.19 (1.15%)

12:05
11/22/19
11/22
12:05
11/22/19
12:05
Options
Regions Financial call volume above normal and directionally bullish »

Bullish option flow…

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  • 17

    Jan

SPCE

Virgin Galactic

$7.57

-0.88 (-10.41%)

12:00
11/22/19
11/22
12:00
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12:00
Hot Stocks
Virgin Galactic falls -10.3% »

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  • 10

    Dec

PSTG

Pure Storage

$16.24

-3.6 (-18.15%)

12:00
11/22/19
11/22
12:00
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12:00
Hot Stocks
Pure Storage falls -18.2% »

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  • 02

    Dec

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    Mar

DAC

Danaos

$5.65

-1.68 (-22.92%)

12:00
11/22/19
11/22
12:00
11/22/19
12:00
Hot Stocks
Danaos falls -26.2% »

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  • 22

    Nov

GSX

GSX Techedu

$18.88

2.625 (16.15%)

12:00
11/22/19
11/22
12:00
11/22/19
12:00
Hot Stocks
GSX Techedu rises 16.5% »

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  • 21

    Nov

BKE

The Buckle

$26.24

3.9 (17.46%)

12:00
11/22/19
11/22
12:00
11/22/19
12:00
Hot Stocks
The Buckle rises 17.4% »

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  • 22

    Nov

SSI

Stage Stores

$4.30

0.95 (28.36%)

12:00
11/22/19
11/22
12:00
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12:00
Hot Stocks
Stage Stores rises 27.7% »

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GS

Goldman Sachs

$219.83

1.6 (0.73%)

, JPM

JPMorgan

$130.91

0.95 (0.73%)

11:57
11/22/19
11/22
11:57
11/22/19
11:57
On The Fly
Fly Intel: Wall Street's top stories at midday »

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GS

Goldman Sachs

$219.83

1.6 (0.73%)

JPM

JPMorgan

$130.91

0.95 (0.73%)

TSLA

Tesla

$332.94

-21.88 (-6.17%)

F

Ford

$8.84

0.115 (1.32%)

GM

General Motors

$35.30

0.64 (1.85%)

GPS

Gap

$16.69

0.47 (2.90%)

UBER

Uber

$29.59

0.13 (0.44%)

HIBB

Hibbett Sports

$29.00

3.93 (15.68%)

JWN

Nordstrom

$37.50

3.21 (9.36%)

SPLK

Splunk

$135.96

9.16 (7.22%)

PSTG

Pure Storage

$16.26

-3.58 (-18.04%)

FL

Foot Locker

$39.54

-1.92 (-4.63%)

WSM

Williams-Sonoma

$66.86

-1.9 (-2.76%)

03/08/13
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  • 22

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  • 04

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  • 11

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ACM

Aecom

$42.48

0.095 (0.22%)

11:55
11/22/19
11/22
11:55
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11:55
Conference/Events
Aecom participates in a conference call with BofA/Merrill »

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  • 22

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DE

Deere

$176.24

0.18 (0.10%)

11:46
11/22/19
11/22
11:46
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11:46
Conference/Events
Deutsche Bank machinery analysts to hold an analyst/industry conference call »

Machinery Analysts, along…

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  • 27

    Nov

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HIIQ

Health Insurance Innovations

$16.15

-0.85 (-5.00%)

11:45
11/22/19
11/22
11:45
11/22/19
11:45
Options
Health Insurance Innovations call volume above normal and directionally bullish »

Bullish option flow…

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HBI

Hanesbrands

$14.93

0.16 (1.08%)

11:35
11/22/19
11/22
11:35
11/22/19
11:35
Options
HanesBrands put volume heavy and directionally bearish »

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FB

Facebook

$197.95

-0.15 (-0.08%)

11:34
11/22/19
11/22
11:34
11/22/19
11:34
Periodicals
Facebook to turn over additional docs in California privacy probe, Reuters says »

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  • 26

    Nov

BA

Boeing

$368.13

1.66 (0.45%)

11:31
11/22/19
11/22
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11:31
Hot Stocks
Boeing says SVP of Communications Anne Toulouse to step down at year-end »

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ZTCOY

ZTE Corp.

$0.00

(0.00%)

, MU

Micron

$46.10

0.56 (1.23%)

11:30
11/22/19
11/22
11:30
11/22/19
11:30
Periodicals
Breaking Periodicals news story on ZTE Corp., Micron, Western Digital, Bought by LITE, Acacia Communications, NeoPhotonics, Lumentum, II-VI »

FCC declares Huawei, ZTE…

ZTCOY

ZTE Corp.

$0.00

(0.00%)

MU

Micron

$46.10

0.56 (1.23%)

WDC

Western Digital

$48.44

0.59 (1.23%)

OCLR

Bought by LITE

$0.00

(0.00%)

ACIA

Acacia Communications

$66.67

-0.02 (-0.03%)

NPTN

NeoPhotonics

$8.08

-0.11 (-1.34%)

LITE

Lumentum

$67.67

0.54 (0.80%)

IIVI

II-VI

$27.35

-0.11 (-0.40%)

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  • 02

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    Dec

GOOG

Alphabet

$1,296.07

-5.13 (-0.39%)

, GOOGL

Alphabet Class A

$1,294.89

-4.86 (-0.37%)

11:28
11/22/19
11/22
11:28
11/22/19
11:28
Periodicals
Google denies reports claiming Stadia units experiencing overheating, Vice says »

Some Google Stadia…

GOOG

Alphabet

$1,296.07

-5.13 (-0.39%)

GOOGL

Alphabet Class A

$1,294.89

-4.86 (-0.37%)

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CC

Chemours

$16.44

0.2 (1.23%)

11:25
11/22/19
11/22
11:25
11/22/19
11:25
Options
Chemours call volume above normal and directionally bullish »

Bullish option flow…

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