Reaves W H Co Inc Lowers stake in SCANA Corporation (SCG)

SCANA Corporation (SCG) : Reaves W H Co Inc reduced its stake in SCANA Corporation by 4.04% during the most recent quarter end. The investment management company now holds a total of 1,658,535 shares of SCANA Corporation which is valued at $121,089,640 after selling 69,769 shares in SCANA Corporation , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.SCANA Corporation makes up approximately 4.36% of Reaves W H Co Inc’s portfolio.

Other Hedge Funds, Including , Thompson Davis added SCG to its portfolio by purchasing 103 company shares during the most recent quarter which is valued at $7,490. SCANA Corporation makes up approx 0.01% of Thompson Davis’s portfolio. Stanley-laman Group Ltd. added SCG to its portfolio by purchasing 3,965 company shares during the most recent quarter which is valued at $289,207. SCANA Corporation makes up approx 0.11% of Stanley-laman Group Ltd.’s portfolio. Tortoise Investment Management added SCG to its portfolio by purchasing 54 company shares during the most recent quarter which is valued at $4,016.Ftb Advisors reduced its stake in SCG by selling 635 shares or 80.89% in the most recent quarter. The Hedge Fund company now holds 150 shares of SCG which is valued at $11,241.

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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