Morgan Stanley Downgrades SCANA Corporation to Underweight

Brokerage firm Morgan Stanley Downgrades its rating on SCANA Corporation(NYSE:SCG). The shares have been rated Underweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Morgan Stanley was issued on Jun 15, 2016.

SCANA Corporation (SCG) made into the market gainers list on Tuesdays trading session with the shares advancing 0.22% or 0.16 points. Due to strong positive momentum, the stock ended at $71.52, which is also near the day’s high of $72.06. The stock began the session at $71.36 and the volume stood at 9,99,365 shares. The 52-week high of the shares is $72.3 and the 52 week low is $50.01. The company has a current market capitalization of $10,221 M and it has 14,29,16,920 shares in outstanding.

SCANA Corporation(SCG) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.17B. Analysts had an estimated revenue of $1.37B. Earnings per share were $1.28. Analysts had estimated an EPS of $1.43.

Several Insider Transactions has been reported to the SEC. On Mar 1, 2016, Don Russell Harris (SCANA Senior VP/SCEG President) sold 2,500 shares at $65.27 per share price.Also, On Mar 1, 2016, Mark R Cannon (Treasurer SCANA/Subs) sold 8,000 shares at $65.11 per share price.On Feb 23, 2016, James M Micali (director) sold 1,000 shares at $66.11 per share price, according to the Form-4 filing with the securities and exchange commission.

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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