Hexavest Lowers stake in Southern Co (SO)

Southern Co (SO) : Hexavest reduced its stake in Southern Co by 4.16% during the most recent quarter end. The investment management company now holds a total of 3,673,797 shares of Southern Co which is valued at $186,188,032 after selling 159,355 shares in Southern Co , the firm said in a disclosure report filed with the SEC on Apr 12, 2016.Southern Co makes up approximately 2.87% of Hexavest’s portfolio.

Southern Co opened for trading at $50.44 and hit $50.8 on the upside on Friday, eventually ending the session at $50.68, with a gain of 0.46% or 0.23 points. The heightened volatility saw the trading volume jump to 26,89,454 shares. Company has a market cap of $46,263 M.

Other Hedge Funds, Including , Dnb Asset Management As boosted its stake in SO in the latest quarter, The investment management firm added 35,400 additional shares and now holds a total of 103,506 shares of Southern Co which is valued at $5,245,684. Southern Co makes up approx 0.11% of Dnb Asset Management As’s portfolio.Capstone Asset Management Co boosted its stake in SO in the latest quarter, The investment management firm added 137,440 additional shares and now holds a total of 206,960 shares of Southern Co which is valued at $10,488,733. Southern Co makes up approx 0.30% of Capstone Asset Management Co’s portfolio.Partnerre Asset Management Corp boosted its stake in SO in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 6,188 shares of Southern Co which is valued at $312,308. Southern Co makes up approx 0.17% of Partnerre Asset Management Corp’s portfolio.Hollencrest Securities reduced its stake in SO by selling 83 shares or 0.71% in the most recent quarter. The Hedge Fund company now holds 11,553 shares of SO which is valued at $583,080. Southern Co makes up approx 0.10% of Hollencrest Securities’s portfolio.

On the company’s financial health, Southern Co reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 3, 2016. Analyst had a consensus of $0.42. The company had revenue of $3606.00 million for the quarter, compared to analysts expectations of $4512.21 million. The company’s revenue was down -10.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.38 EPS.

Many Wall Street Analysts have commented on Southern Co. 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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