Duquesne Family Office adds Southern Co (SO) to its portfolio

Southern Co (SO) : Duquesne Family Office added new position in Southern Co during the most recent quarter end. The investment management firm now holds 1,017,400 shares of Southern Co which is valued at $53,260,890 , the company said in a statement filed on Aug 15, 2016 with the SEC.Southern Co makes up approximately 4.46% of Duquesne Family Office’s portfolio.

Other Hedge Funds, Including , Orleans Capital Management Corpla reduced its stake in SO by selling 784 shares or 1.19% in the most recent quarter. The Hedge Fund company now holds 65,002 shares of SO which is valued at $3,402,855. Southern Co makes up approx 2.34% of Orleans Capital Management Corpla’s portfolio.Sva Plumb Wealth Management reduced its stake in SO by selling 360 shares or 4.41% in the most recent quarter. The Hedge Fund company now holds 7,808 shares of SO which is valued at $408,749. Southern Co makes up approx 0.06% of Sva Plumb Wealth Management’s portfolio. Spectrum Management Group sold out all of its stake in SO during the most recent quarter. The investment firm sold 708 shares of SO which is valued $37,878.High Point Bank Trust Co reduced its stake in SO by selling 224 shares or 6.62% in the most recent quarter. The Hedge Fund company now holds 3,159 shares of SO which is valued at $169,133. Southern Co makes up approx 0.05% of High Point Bank Trust Co’s portfolio.Bollard Group boosted its stake in SO in the latest quarter, The investment management firm added 872 additional shares and now holds a total of 83,438 shares of Southern Co which is valued at $4,550,709. Southern Co makes up approx 0.31% of Bollard Group’s portfolio.

Southern Co closed down -0.15 points or -0.29% at $51.18 with 36,13,616 shares getting traded on Thursday. Post opening the session at $51.24, the shares hit an intraday low of $51.01 and an intraday high of $51.365 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.

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