Southern Co (SO) : Summit Asset Management reduced its stake in Southern Co by 14.03% during the most recent quarter end. The investment management company now holds a total of 6,432 shares of Southern Co which is valued at $336,522 after selling 1,050 shares in Southern Co , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Southern Co makes up approximately 0.15% of Summit Asset Management’s portfolio.
Other Hedge Funds, Including , Geneva Advisors boosted its stake in SO in the latest quarter, The investment management firm added 842 additional shares and now holds a total of 7,909 shares of Southern Co which is valued at $413,799. Southern Co makes up approx 0.01% of Geneva Advisors’s portfolio.Montrusco Bolton Investments boosted its stake in SO in the latest quarter, The investment management firm added 20 additional shares and now holds a total of 3,880 shares of Southern Co which is valued at $211,615. Southern Co makes up approx 0.01% of Montrusco Bolton Investments’s portfolio.
Southern Co closed down -0.86 points or -1.64% at $51.49 with 41,24,547 shares getting traded on Monday. Post opening the session at $52.34, the shares hit an intraday low of $51.46 and an intraday high of $52.48 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Southern Co reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.70. The company had revenue of $4453.00 million for the quarter, compared to analysts expectations of $4453.23 million. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.
Many Wall Street Analysts have commented on Southern Co. Goldman Resumed Southern Co on Jul 14, 2016 to “Neutral”, Price Target of the shares are set at $54.Company shares were Upgraded by Barclays on Jul 14, 2016 to ” Overweight”, Firm has raised the Price Target to $ 62 from a previous price target of $59 .Company shares were Reiterated by Mizuho on Jul 12, 2016 to “Neutral”, Firm has raised the Price Target to $ 52 from a previous price target of $50 .
Southern Company is an operating public utility company. The primary business of the Southern Company is electricity sales by the traditional operating companies and Southern Power. Southern Company’s business segments are the sale of electricity by the four traditional operating companies and Southern Power. The four traditional operating companies including Alabama Power Georgia Power Gulf Power and Mississippi Power are vertically integrated utilities providing electric service in four Southeastern states. Southern Company owns all of the common stock of Southern Power Company which is also an operating public utility company. Southern Power constructs acquires owns and manages generation assets including renewable energy projects and sells electricity at market-based rates in the wholesale market. The Company also operates the All Other segment.