SCANA Corporation (SCG) is Downgraded by Morgan Stanley to Underweight

SCANA Corporation (SCG) was Downgraded by Morgan Stanley to ” Underweight”. Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jun 15, 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 .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 .

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.

SCANA Corporation opened for trading at $71.49 and hit $72.3 on the upside on Tuesday, eventually ending the session at $72.25, with a gain of 1.15% or 0.82 points. The heightened volatility saw the trading volume jump to 8,28,218 shares. Company has a market cap of $10,326 M.

In a different news, on Mar 1, 2016, Don Russell Harris (SCANA Senior VP/SCEG President) sold 2,500 shares at $65.27 per share price. According to the SEC, 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.

SCANA Corporation

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