Gabelli Maintains Buy on SCANA (SCG)

Gabelli is out with its report today on SCANA SCG, maintaining Buy. In a note to clients, Gabelli writes, "We rate SCG BUY based on the above-average long-term growth rate from new nuclear investment. SCG offers a 4.7% current return on a $1.94 per share annual dividend. Shares trade at 13.6X and 13.0X our 2011 and 2012 EPS estimates, which compares favorably with peer group multiples of 14.6X and 13.7X, respectively. Given the company's strong regulatory support, earnings growth potential and strong financial condition, we believe SCG shares warrant a modest premium to the group. Our 2012 PMV is $47 per share. Risks to our investment thesis are regulatory, construction and interest rate." At the time of posting, shares of SCG were trading at $41.65, up 0.31% from Friday's close.