Fukoku Mutual Life Insurance Co buys $6.8 Million stake in Southern Co (SO)

Southern Co (SO) : Fukoku Mutual Life Insurance Co scooped up 132,000 additional shares in Southern Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 136,900 shares of Southern Co which is valued at $6.8 Million.Southern Co makes up approximately 1.48% of Fukoku Mutual Life Insurance Co’s portfolio.

Other Hedge Funds, Including , Uss Investment Management Ltd added SO to its portfolio by purchasing 124,429 company shares during the most recent quarter which is valued at $6.2 Million. Southern Co makes up approx 0.10% of Uss Investment Management Ltd’s portfolio.Schmidt P J Investment Management Inc reduced its stake in SO by selling 1,450 shares or 10.21% in the most recent quarter. The Hedge Fund company now holds 12,750 shares of SO which is valued at $638,775. Southern Co makes up approx 0.25% of Schmidt P J Investment Management Inc’s portfolio.Sequent Asset Management reduced its stake in SO by selling 2,360 shares or 7.82% in the most recent quarter. The Hedge Fund company now holds 27,800 shares of SO which is valued at $1.4 Million. Southern Co makes up approx 0.94% of Sequent Asset Management’s portfolio.Whittier Trust Co boosted its stake in SO in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 2,469 shares of Southern Co which is valued at $123,697. Southern Co makes up approx 0.01% of Whittier Trust Co’s portfolio.Iab Financial Bank boosted its stake in SO in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 5,200 shares of Southern Co which is valued at $260,520. Southern Co makes up approx 0.17% of Iab Financial Bank’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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