David R. Rahn Associates adds Southern Co (SO) to its portfolio

Southern Co (SO) : David R. Rahn Associates added new position in Southern Co during the most recent quarter end. The investment management firm now holds 29,721 shares of Southern Co which is valued at $1,470,892 , the company said in a statement filed on May 2, 2016 with the SEC.Southern Co makes up approximately 1.18% of David R. Rahn Associates’s portfolio.

Southern Co closed down -1.13 points or -2.23% at $49.49 with 2,31,70,100 shares getting traded on Friday. Post opening the session at $49.15, the shares hit an intraday low of $48.825 and an intraday high of $49.56 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in SO in the latest quarter, The investment management firm added 11,639 additional shares and now holds a total of 132,794 shares of Southern Co which is valued at $6,571,975. Southern Co makes up approx 0.18% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.State Of New Jersey Common Pension Fund D reduced its stake in SO by selling 55,000 shares or 11.58% in the most recent quarter. The Hedge Fund company now holds 420,000 shares of SO which is valued at $21,042,000. Southern Co makes up approx 0.09% of State Of New Jersey Common Pension Fund D’s portfolio.Pggm Investments boosted its stake in SO in the latest quarter, The investment management firm added 41,503 additional shares and now holds a total of 1,968,318 shares of Southern Co which is valued at $96,959,345. Southern Co makes up approx 0.52% of Pggm Investments’s portfolio.Quantitative Systematic Strategies boosted its stake in SO in the latest quarter, The investment management firm added 8,244 additional shares and now holds a total of 14,735 shares of Southern Co which is valued at $725,846. Southern Co makes up approx 0.27% of Quantitative Systematic Strategies’s portfolio.First Quadrant L Pca reduced its stake in SO by selling 893 shares or 25.61% in the most recent quarter. The Hedge Fund company now holds 2,594 shares of SO which is valued at $127,780.

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. 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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