UPDATE: Wunderlich Color On SCG Guidance

Wunderlich Securities, which lowered its PT on SCANA Corp. SCG, is providing some color on the firm's 2011 EPS guidance of $2.95-$3.10 (which as well below Wunderlich's $3.27E and consensus of $3.21). “Management also lowered the company's 3-5 year average earnings growth target to 3%-5% from 4%-6%, citing a lower electric load growth forecast. Shares tumbled 4.1% on the outlook, which was given on SCG's 4Q10 earnings conference call,” Wunderlich Securities writes. “Adjusted EPS for 4Q/full-year 2010 were $0.74/$3.01, largely in line with our $0.71E/$3.01E and consensus of $0.73/$2.99. 2009A adjusted EPS were $0.62/$2.74. We are cutting our 2011E/2012E/2013E EPS to $3.14/$3.29/$3.38; our new forecast implies a 5.0% EPS CAGR. We are trimming our price target to $44 from $45 to reflect our lower 2013E.” SCANA Corp. closed Friday at $40.67.