Raymond James Associates buys $121,937,801 stake in Southern Co (SO)

Southern Co (SO) : Raymond James Associates scooped up 259,072 additional shares in Southern Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 2,560,105 shares of Southern Co which is valued at $121,937,801.Southern Co makes up approximately 0.34% of Raymond James Associates’s portfolio.

Other Hedge Funds, Including , Barings reduced its stake in SO by selling 12,800 shares or 22.3% in the most recent quarter. The Hedge Fund company now holds 44,606 shares of SO which is valued at $2,124,584. Southern Co makes up approx 0.11% of Barings’s portfolio.Mandatum Life Insurance Co Ltd boosted its stake in SO in the latest quarter, The investment management firm added 2,166 additional shares and now holds a total of 16,282 shares of Southern Co which is valued at $780,071. Southern Co makes up approx 0.10% of Mandatum Life Insurance Co Ltd’s portfolio.Aviance Capital Partners reduced its stake in SO by selling 6,821 shares or 22.97% in the most recent quarter. The Hedge Fund company now holds 22,879 shares of SO which is valued at $1,148,297. Southern Co makes up approx 0.42% of Aviance Capital Partners’s portfolio.Somerset Trust Co boosted its stake in SO in the latest quarter, The investment management firm added 616 additional shares and now holds a total of 18,724 shares of Southern Co which is valued at $949,120. Southern Co makes up approx 0.58% of Somerset Trust Co’s portfolio.

Southern Co closed down -0.37 points or -0.78% at $47.13 with 56,11,586 shares getting traded on Monday. Post opening the session at $47.56, the shares hit an intraday low of $46.891 and an intraday high of $47.65 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 $1.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Oct 31, 2016. Analyst had a consensus of $1.18. The company had revenue of $6264.00 million for the quarter, compared to analysts expectations of $6034.32 million. The company’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 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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