Institutional Family Asset Management Lowers stake in SCANA Corporation (SCG)

SCANA Corporation (SCG) : Institutional Family Asset Management reduced its stake in SCANA Corporation by 0.21% during the most recent quarter end. The investment management company now holds a total of 48,272 shares of SCANA Corporation which is valued at $3.4 Million after selling 104 shares in SCANA Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.SCANA Corporation makes up approximately 1.24% of Institutional Family Asset Management’s portfolio.

Other Hedge Funds, Including , Gsa Capital Partners Llp sold out all of its stake in SCG during the most recent quarter. The investment firm sold 8,749 shares of SCG which is valued $615,842.Stephens Inc Ar boosted its stake in SCG in the latest quarter, The investment management firm added 8,838 additional shares and now holds a total of 19,895 shares of SCANA Corporation which is valued at $1.4 Million. SCANA Corporation makes up approx 0.07% of Stephens Inc Ar’s portfolio. Capital Investment Counsel Inc added SCG to its portfolio by purchasing 3,178 company shares during the most recent quarter which is valued at $221,443. SCANA Corporation makes up approx 0.12% of Capital Investment Counsel Inc’s portfolio.

SCANA Corporation opened for trading at $70.18 and hit $70.7 on the upside on Monday, eventually ending the session at $70.64, with a gain of 0.36% or 0.25 points. The heightened volatility saw the trading volume jump to 8,40,415 shares. Company has a market cap of $10,096 M.

On the company’s financial health, SCANA Corporation reported $1.23 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $1.30. The company had revenue of $1172.00 million for the quarter, compared to analysts expectations of $1260.36 million. The company’s revenue was down -15.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.80 EPS.

Investors should note that on Apr 28, 2016, SCANA Corporation announced a cash dividend of $0.5750. The company’s management has announced Jun 8, 2016 as the ex-dividend date and fixed the record date on Jun 10, 2016. The payable date has been fixed on Jul 1, 2016.

Many Wall Street Analysts have commented on SCANA Corporation. Company shares were Reiterated by Mizuho on Mar 18, 2016 to “Buy”, Firm has raised the Price Target to $ 74 from a previous price target of $71 .

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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