Peregrine Asset Advisers adds Southern Co (SO) to its portfolio

Southern Co (SO) : Peregrine Asset Advisers added new position in Southern Co during the most recent quarter end. The investment management firm now holds 80,505 shares of Southern Co which is valued at $4 Million , the company said in a statement filed on May 13, 2016 with the SEC.Southern Co makes up approximately 3.01% of Peregrine Asset Advisers’s portfolio.

Other Hedge Funds, Including , Allianz Asset Management Ag reduced its stake in SO by selling 22,009 shares or 50.21% in the most recent quarter. The Hedge Fund company now holds 21,824 shares of SO which is valued at $1.1 Million.Mandatum Life Insurance Co Ltd boosted its stake in SO in the latest quarter, The investment management firm added 4,811 additional shares and now holds a total of 11,907 shares of Southern Co which is valued at $594,040. Southern Co makes up approx 0.08% of Mandatum Life Insurance Co Ltd’s portfolio.Stanley-laman Group Ltd. reduced its stake in SO by selling 57,415 shares or 66.6% in the most recent quarter. The Hedge Fund company now holds 28,791 shares of SO which is valued at $1.4 Million. Southern Co makes up approx 0.27% of Stanley-laman Group Ltd.’s portfolio.Geneva Advisors boosted its stake in SO in the latest quarter, The investment management firm added 581 additional shares and now holds a total of 7,067 shares of Southern Co which is valued at $349,746. Southern Co makes up approx 0.01% of Geneva Advisors’s portfolio.

Southern Co opened for trading at $48.42 and hit $48.77 on the upside on Wednesday, eventually ending the session at $48.55, with a gain of 0.19% or 0.09 points. The heightened volatility saw the trading volume jump to 38,25,267 shares. Company has a market cap of $44,581 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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