Pensionfund Sabic buys $1.9 Million stake in Southern Co (SO)

Southern Co (SO) : Pensionfund Sabic scooped up 1,700 additional shares in Southern Co during the most recent quarter end , according to a recent disclosure to the SEC on Apr 4, 2016. The investment management firm now holds a total of 38,200 shares of Southern Co which is valued at $1.9 Million.Southern Co makes up approximately 0.59% of Pensionfund Sabic’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group reduced its stake in SO by selling 3,941 shares or 2.07% in the most recent quarter. The Hedge Fund company now holds 186,449 shares of SO which is valued at $9.6 Million. Southern Co makes up approx 2.08% of Beacon Financial Group’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 Co closed down -0.26 points or -0.51% at $50.47 with 29,65,659 shares getting traded on Monday. Post opening the session at $50.58, the shares hit an intraday low of $50.45 and an intraday high of $50.99 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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