UPDATE: Bank of America Raises SCANA's PO

According to a research report published this morning, Bank of America has increased SCANA's

PO from $44 to $46. In the report, Bank of America commented, "On 5/3, SCANA Corp. (SCG) reported 1Q12 earnings of $0.93, below our $1.01 estimate based on abnormally warm winter, which impacted SCG's retail gas business in Georgia. Despite the weather hit, SCG affirmed its 2012 guidance of $3.05-3.25. We are lowering our 2012E EPS to $3.10 from $3.17 to reflect the weather hit. We are maintaining our 2013E-14E EPS of $3.44/3.56. SCG also affirmed its long-term growth rate of 3-5% off of 2010 weather adjusted earnings of $2.92. Our projected growth rate is on the high-end of SCG's range." Bank of America maintains its Underperform rating on SCANA, which closed Friday at $45.67.