Uss Investment Management Ltd Lowers stake in SCANA Corporation (SCG)

SCANA Corporation (SCG) : Uss Investment Management Ltd reduced its stake in SCANA Corporation by 6.05% during the most recent quarter end. The investment management company now holds a total of 90,122 shares of SCANA Corporation which is valued at $6,702,373 after selling 5,800 shares in SCANA Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.SCANA Corporation makes up approximately 0.11% of Uss Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Aberdeen Asset Management Plcuk reduced its stake in SCG by selling 2,142 shares or 1.45% in the most recent quarter. The Hedge Fund company now holds 146,057 shares of SCG which is valued at $10,862,259. SCANA Corporation makes up approx 0.04% of Aberdeen Asset Management Plcuk’s portfolio.Sumitomo Mitsui Asset Management Company Ltd boosted its stake in SCG in the latest quarter, The investment management firm added 208 additional shares and now holds a total of 10,216 shares of SCANA Corporation which is valued at $765,587. SCANA Corporation makes up approx 0.02% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.Nisa Investment Advisors reduced its stake in SCG by selling 2,400 shares or 32.88% in the most recent quarter. The Hedge Fund company now holds 4,900 shares of SCG which is valued at $362,061.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 closed down -0.04 points or -0.05% at $74.33 with 5,43,666 shares getting traded on Thursday. Post opening the session at $74.41, the shares hit an intraday low of $74.08 and an intraday high of $75.077 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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