Integrated Wealth Management Lowers stake in Southern Co (SO)

Southern Co (SO) : Integrated Wealth Management reduced its stake in Southern Co by 14.12% during the most recent quarter end. The investment management company now holds a total of 17,789 shares of Southern Co which is valued at $943,529 after selling 2,925 shares in Southern Co , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Southern Co makes up approximately 0.36% of Integrated Wealth Management’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System boosted its stake in SO in the latest quarter, The investment management firm added 66,823 additional shares and now holds a total of 2,050,955 shares of Southern Co which is valued at $108,782,653. Southern Co makes up approx 0.23% of California State Teachers Retirement System’s portfolio.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.Ferguson Wellman Capital Management Inc boosted its stake in SO in the latest quarter, The investment management firm added 259 additional shares and now holds a total of 4,429 shares of Southern Co which is valued at $237,483. Southern Co makes up approx 0.01% of Ferguson Wellman Capital Management Inc’s portfolio.Lodestar Investment Counselil reduced its stake in SO by selling 800 shares or 0.67% in the most recent quarter. The Hedge Fund company now holds 118,116 shares of SO which is valued at $6,333,380. Southern Co makes up approx 0.87% of Lodestar Investment Counselil’s portfolio.Hartford Financial Management boosted its stake in SO in the latest quarter, The investment management firm added 165 additional shares and now holds a total of 6,128 shares of Southern Co which is valued at $328,645. Southern Co makes up approx 0.19% of Hartford Financial Management’s portfolio.

Southern Co opened for trading at $53.1 and hit $53.4 on the upside on Thursday, eventually ending the session at $53.16, with a gain of 0.23% or 0.12 points. The heightened volatility saw the trading volume jump to 32,28,909 shares. Company has a market cap of $48,815 M.

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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