Revenue Update on SCANA Corporation(NYSE:SCG)

SCANA Corporation(NYSE:SCG) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $905.00M. Analysts estimated a revenue of $937.46M. Earnings per share were $0.74. Analysts had estimated an EPS of $0.71.

In a different note, On Jun 15, 2016, Morgan Stanley said it Downgrades its rating on SCANA Corporation. The shares have been rated ‘Underweight’ by the firm.

SCANA Corporation (SCG) shares turned negative on Thursdays trading session with the shares closing down -0.04 points or -0.05% at a volume of 5,43,666. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $75.077. The peak price level was also seen at $75.077 while the days lowest was $74.08. Finally the shares closed at $74.33. The 52-week high of the shares is $76.41 while the 52-week low is $50.17. According to the latest information available, the market cap of the company is $10,623 M.

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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