Warren Averett Asset Management buys $1,556,868 stake in Southern Co (SO)

Southern Co (SO) : Warren Averett Asset Management scooped up 8,085 additional shares in Southern Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 13, 2016. The investment management firm now holds a total of 29,303 shares of Southern Co which is valued at $1,556,868.Southern Co makes up approximately 0.69% of Warren Averett Asset Management’s portfolio.

Other Hedge Funds, Including , Naples Global Advisors reduced its stake in SO by selling 650 shares or 1.69% in the most recent quarter. The Hedge Fund company now holds 37,711 shares of SO which is valued at $2,003,585. Southern Co makes up approx 0.81% of Naples Global Advisors’s portfolio.Mitchell Sinkler Starrpa reduced its stake in SO by selling 710 shares or 2.74% in the most recent quarter. The Hedge Fund company now holds 25,235 shares of SO which is valued at $1,340,736. Southern Co makes up approx 1.79% of Mitchell Sinkler Starrpa’s portfolio.Davenport Co reduced its stake in SO by selling 2,909 shares or 4.21% in the most recent quarter. The Hedge Fund company now holds 66,142 shares of SO which is valued at $3,514,124. Southern Co makes up approx 0.05% of Davenport Co’s portfolio.British Columbia Investment Management Corp boosted its stake in SO in the latest quarter, The investment management firm added 144,444 additional shares and now holds a total of 502,989 shares of Southern Co which is valued at $27,231,824. Southern Co makes up approx 0.23% of British Columbia Investment Management Corp’s portfolio.Triangle Securities Wealth Management reduced its stake in SO by selling 320 shares or 7.84% in the most recent quarter. The Hedge Fund company now holds 3,762 shares of SO which is valued at $203,675. Southern Co makes up approx 0.15% of Triangle Securities Wealth Management’s portfolio.

Southern Co closed down -0.01 points or -0.02% at $53.62 with 35,61,926 shares getting traded on Monday. Post opening the session at $53.65, the shares hit an intraday low of $53.56 and an intraday high of $53.91 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. Goldman Resumed Southern Co on Jul 14, 2016 to “Neutral”, Price Target of the shares are set at $54.Company shares were Upgraded by Barclays on Jul 14, 2016 to ” Overweight”, Firm has raised the Price Target to $ 62 from a previous price target of $59 .Company shares were Reiterated by Mizuho on Jul 12, 2016 to “Neutral”, Firm has raised the Price Target to $ 52 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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