National Pension Service buys $29,623,660 stake in Southern Co (SO)

Southern Co (SO) : National Pension Service scooped up 47,146 additional shares in Southern Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 585,911 shares of Southern Co which is valued at $29,623,660.Southern Co makes up approximately 0.24% of National Pension Service’s portfolio.

Other Hedge Funds, Including , Stock Yards Bank Trust Co reduced its stake in SO by selling 1,102 shares or 4.14% in the most recent quarter. The Hedge Fund company now holds 25,539 shares of SO which is valued at $1,291,252. Southern Co makes up approx 0.18% of Stock Yards Bank Trust Co’s portfolio. Hollencrest Securities sold out all of its stake in SO during the most recent quarter. The investment firm sold 7,291 shares of SO which is valued $360,248.Summit Financial Wealth Advisors reduced its stake in SO by selling 13,492 shares or 35.61% in the most recent quarter. The Hedge Fund company now holds 24,398 shares of SO which is valued at $1,208,189. Southern Co makes up approx 0.53% of Summit Financial Wealth Advisors’s portfolio.

Southern Co closed down -0.2 points or -0.39% at $50.56 with 39,47,826 shares getting traded on Friday. Post opening the session at $50.64, the shares hit an intraday low of $50.44 and an intraday high of $51.03 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

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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