Navellier Associates Inc buys $11,586,028 stake in SCANA Corporation (SCG)

SCANA Corporation (SCG) : Navellier Associates Inc scooped up 149,114 additional shares in SCANA Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 155,789 shares of SCANA Corporation which is valued at $11,586,028.SCANA Corporation makes up approximately 1.70% of Navellier Associates Inc’s portfolio.

Other Hedge Funds, Including , Uss Investment Management Ltd reduced its stake in SCG by selling 5,800 shares or 6.05% in the most recent quarter. The Hedge Fund company now holds 90,122 shares of SCG which is valued at $6,702,373. SCANA Corporation makes up approx 0.11% of Uss Investment Management Ltd’s portfolio.Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in SCG by selling 1,080 shares or 7.16% in the most recent quarter. The Hedge Fund company now holds 14,002 shares of SCG which is valued at $1,041,329. SCANA Corporation makes up approx 0.01% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio. New Amsterdam Partnersny sold out all of its stake in SCG during the most recent quarter. The investment firm sold 49,822 shares of SCG which is valued $3,705,262.

SCANA Corporation closed down -0.22 points or -0.30% at $72.72 with 6,45,011 shares getting traded on Monday. Post opening the session at $73.01, the shares hit an intraday low of $72.51 and an intraday high of $73.59 and the price fluctuated in this range throughout the day.Shares ended Monday 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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