Shell Asset Management Co Lowers stake in Southern Co (SO)

Southern Co (SO) : Shell Asset Management Co reduced its stake in Southern Co by 9.45% during the most recent quarter end. The investment management company now holds a total of 594,655 shares of Southern Co which is valued at $29.7 Million after selling 62,074 shares in Southern Co , the firm said in a disclosure report filed with the SEC on May 11, 2016.Southern Co makes up approximately 0.72% of Shell Asset Management Co’s portfolio.

Other Hedge Funds, Including , Amalgamated Bank boosted its stake in SO in the latest quarter, The investment management firm added 8,654 additional shares and now holds a total of 32,511 shares of Southern Co which is valued at $1.6 Million. Southern Co makes up approx 0.16% of Amalgamated Bank’s portfolio.Hourglass Capital reduced its stake in SO by selling 70 shares or 1.32% in the most recent quarter. The Hedge Fund company now holds 5,250 shares of SO which is valued at $261,923. Southern Co makes up approx 0.07% of Hourglass Capital’s portfolio.Intersect Capital boosted its stake in SO in the latest quarter, The investment management firm added 221 additional shares and now holds a total of 7,197 shares of Southern Co which is valued at $356,180. Southern Co makes up approx 0.23% of Intersect Capital’s portfolio.Kalos Management boosted its stake in SO in the latest quarter, The investment management firm added 305 additional shares and now holds a total of 7,165 shares of Southern Co which is valued at $354,596. Southern Co makes up approx 0.29% of Kalos Management’s portfolio.Wedbush Securities Inc reduced its stake in SO by selling 1,239 shares or 5.02% in the most recent quarter. The Hedge Fund company now holds 23,430 shares of SO which is valued at $1.2 Million. Southern Co makes up approx 0.21% of Wedbush Securities Inc’s portfolio.

Southern Co opened for trading at $49.75 and hit $49.96 on the upside on Monday, eventually ending the session at $49.94, with a gain of 0.10% or 0.05 points. The heightened volatility saw the trading volume jump to 40,16,718 shares. Company has a market cap of $45,858 M.

On the company’s financial health, Southern Co reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.53. The company had revenue of $3965.00 million for the quarter, compared to analysts expectations of $4256.32 million. The company’s revenue was down -5.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.56 EPS.

Many Wall Street Analysts have commented on Southern Co. Scotia Howard Weil Initiated Southern Co on May 13, 2016 to “Sector Perform”, Price Target of the shares are set at $52.Company shares were Reiterated by Argus on Feb 17, 2016 to “Buy”, Firm has raised the Price Target to $ 54 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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