Homrich Berg buys $3.4 Million stake in Southern Co (SO)

Southern Co (SO) : Homrich Berg scooped up 3,931 additional shares in Southern Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 68,457 shares of Southern Co which is valued at $3.4 Million.Southern Co makes up approximately 0.34% of Homrich Berg’s portfolio.

Other Hedge Funds, Including , Segall Bryant Hamill boosted its stake in SO in the latest quarter, The investment management firm added 2,859 additional shares and now holds a total of 16,116 shares of Southern Co which is valued at $804,027. Southern Co makes up approx 0.02% of Segall Bryant Hamill’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in SO in the latest quarter, The investment management firm added 390,094 additional shares and now holds a total of 24,901,213 shares of Southern Co which is valued at $1,242.3 Million. Southern Co makes up approx 0.21% of Blackrock Institutional Trust Company N.a.’s portfolio.Cim Investment Mangement Inc reduced its stake in SO by selling 1,749 shares or 11.1% in the most recent quarter. The Hedge Fund company now holds 14,005 shares of SO which is valued at $693,107. Southern Co makes up approx 0.30% of Cim Investment Mangement Inc’s portfolio.Intrust Bank Na reduced its stake in SO by selling 114 shares or 1.28% in the most recent quarter. The Hedge Fund company now holds 8,772 shares of SO which is valued at $434,126. Southern Co makes up approx 0.16% of Intrust Bank Na’s portfolio.Wedgewood Investors Inc Pa reduced its stake in SO by selling 350 shares or 6.98% in the most recent quarter. The Hedge Fund company now holds 4,665 shares of SO which is valued at $233,717. Southern Co makes up approx 0.23% of Wedgewood Investors Inc Pa’s portfolio.

Southern Co closed down -0.02 points or -0.04% at $48.65 with 40,93,548 shares getting traded on Friday. Post opening the session at $48.82, the shares hit an intraday low of $48.38 and an intraday high of $48.86 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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