Longbow Capital Partners Exits Position in SCANA Corporation (SCG)

SCANA Corporation (SCG) : Longbow Capital Partners has sold out all of its stake in SCANA Corporation during the most recent quarter, according to the disclosure filed by the company on Aug 9, 2016 with the SEC. The investment management company has sold out 6,500 shares of SCANA Corporation which is valued at $472,680.

Other Hedge Funds, Including , Reaves W H Co Inc reduced its stake in SCG by selling 69,769 shares or 4.04% in the most recent quarter. The Hedge Fund company now holds 1,658,535 shares of SCG which is valued at $121,089,640. SCANA Corporation makes up approx 4.36% of Reaves W H Co Inc’s portfolio.Cibc Asset Management Inc boosted its stake in SCG in the latest quarter, The investment management firm added 178 additional shares and now holds a total of 15,056 shares of SCANA Corporation which is valued at $1,119,715. SCANA Corporation makes up approx 0.01% of Cibc Asset Management Inc’s portfolio.Breton Hill Capital Ltd. boosted its stake in SCG in the latest quarter, The investment management firm added 4,372 additional shares and now holds a total of 12,172 shares of SCANA Corporation which is valued at $903,771. SCANA Corporation makes up approx 0.28% of Breton Hill Capital Ltd.’s portfolio.

SCANA Corporation opened for trading at $70.94 and hit $72.59 on the upside on Wednesday, eventually ending the session at $72.34, with a gain of 1.74% or 1.24 points. The heightened volatility saw the trading volume jump to 8,66,935 shares. Company has a market cap of $10,339 M.

On the company’s financial health, SCANA Corporation reported $0.74 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $0.74. The company had revenue of $905.00 million for the quarter, compared to analysts expectations of $986.95 million. The company’s revenue was down -6.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.69 EPS.

Investors should note that on Jul 28, 2016, SCANA Corporation announced a cash dividend of $0.5750. The company’s management has announced Sep 8, 2016 as the ex-dividend date and fixed the record date on Sep 12, 2016. The payable date has been fixed on Oct 1, 2016.

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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