Denali Advisors buys $17,497,152 stake in SCANA Corporation (SCG)

SCANA Corporation (SCG) : Denali Advisors scooped up 38,400 additional shares in SCANA Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 14, 2016. The investment management firm now holds a total of 236,800 shares of SCANA Corporation which is valued at $17,497,152.SCANA Corporation makes up approximately 2.93% of Denali Advisors’s portfolio.

Other Hedge Funds, Including , Gradient Investments sold out all of its stake in SCG during the most recent quarter. The investment firm sold 260 shares of SCG which is valued $19,211.Cutler Group Lp boosted its stake in SCG in the latest quarter, The investment management firm added 5,871 additional shares and now holds a total of 18,815 shares of SCANA Corporation which is valued at $1,397,014. SCANA Corporation makes up approx 0.09% of Cutler Group Lp’s portfolio.Creative Planning reduced its stake in SCG by selling 51 shares or 0.59% in the most recent quarter. The Hedge Fund company now holds 8,580 shares of SCG which is valued at $637,065.Exxonmobil Investment Management Inc Tx boosted its stake in SCG in the latest quarter, The investment management firm added 2,197 additional shares and now holds a total of 36,994 shares of SCANA Corporation which is valued at $2,777,510. SCANA Corporation makes up approx 0.06% of Exxonmobil Investment Management Inc Tx’s portfolio.Alpha Windward reduced its stake in SCG by selling 168 shares or 2.52% in the most recent quarter. The Hedge Fund company now holds 6,510 shares of SCG which is valued at $488,771. SCANA Corporation makes up approx 0.35% of Alpha Windward’s portfolio.

SCANA Corporation opened for trading at $73.63 and hit $74.17 on the upside on Monday, eventually ending the session at $73.89, with a gain of 0.54% or 0.4 points. The heightened volatility saw the trading volume jump to 5,43,798 shares. Company has a market cap of $10,560 M.

On the company’s financial health, SCANA Corporation reported $1.23 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $1.30. The company had revenue of $1172.00 million for the quarter, compared to analysts expectations of $1260.36 million. The company’s revenue was down -15.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.80 EPS.

Many Wall Street Analysts have commented on SCANA Corporation. SCANA Corporation was Downgraded by Morgan Stanley to ” Underweight” on Jun 15, 2016. Company shares were Reiterated by Mizuho on Jun 14, 2016 to “Buy”, Firm has raised the Price Target to $ 84 from a previous price target of $74 .

SCANA Corporation is a holding company. SCANA through its subsidiaries is engaged in the generation transmission distribution and sale of electricity in South Carolina and in the purchase transmission and sale of natural gas in North Carolina and South Carolina. Through other wholly owned non-regulated subsidiaries SCANA markets natural gas to retail customers in Georgia and to wholesale customers primarily in the southeast and also provides fiber optic and other telecommunications services. The Company operates through the following segments: Electric Operations Gas Distribution Retail Gas Marketing and All Other. Electric Operations primarily generates transmits and distributes electricity. Gas Distribution purchases and sells natural gas primarily at retail. Retail Gas Marketing markets natural gas in Georgia. Energy Marketing markets natural gas to industrial and commercial customers and municipalities. All Other comprises the holding company and its subsidiaries.

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