Southern Co (SO) : Summit Financial Wealth Advisors reduced its stake in Southern Co by 1.69% during the most recent quarter end. The investment management company now holds a total of 37,890 shares of Southern Co which is valued at $2,051,365 after selling 650 shares in Southern Co , the firm said in a disclosure report filed with the SEC on Jul 6, 2016.Southern Co makes up approximately 0.85% of Summit Financial Wealth Advisors’s portfolio.
Other Hedge Funds, Including , Stock Yards Bank Trust Co reduced its stake in SO by selling 801 shares or 2.92% in the most recent quarter. The Hedge Fund company now holds 26,641 shares of SO which is valued at $1,445,274. Southern Co makes up approx 0.19% of Stock Yards Bank Trust Co’s portfolio.Cullinan Associates Inc reduced its stake in SO by selling 1,250 shares or 1.66% in the most recent quarter. The Hedge Fund company now holds 74,050 shares of SO which is valued at $3,986,112. Southern Co makes up approx 0.32% of Cullinan Associates Inc’s portfolio.
Southern Co closed down -0.35 points or -0.65% at $53.79 with 63,53,953 shares getting traded on Monday. Post opening the session at $53.89, the shares hit an intraday low of $53.47 and an intraday high of $54.08 and the price fluctuated in this range throughout the day.Shares ended Monday 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.
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.