The Southern Company (NYSE:SO) Shares Purchased by State Street Corp

State Street Corp boosted its stake in The Southern Company (NYSE:SOGet Rating) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,509,811 shares of the utilities provider’s stock after acquiring an additional 432,976 shares during the period. State Street Corp’s holdings in Southern were worth $3,601,123,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Arlington Partners LLC acquired a new position in Southern in the 4th quarter valued at about $27,000. Cassady Schiller Wealth Management LLC acquired a new position in Southern in the 4th quarter valued at about $28,000. Amplius Wealth Advisors LLC purchased a new stake in Southern in the 4th quarter valued at approximately $28,000. Disciplined Investments LLC purchased a new stake in Southern in the 4th quarter valued at approximately $29,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in Southern in the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 60.58% of the company’s stock.

A number of brokerages have weighed in on SO. Wells Fargo & Company lifted their price objective on Southern from $68.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, April 19th. Bank of America lowered Southern from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $75.00 to $71.00 in a report on Monday, February 7th. Mizuho boosted their price target on Southern from $67.00 to $76.00 and gave the stock a “neutral” rating in a research note on Thursday, April 21st. Morgan Stanley decreased their price target on Southern from $67.00 to $66.00 and set an “underweight” rating on the stock in a research note on Monday, May 23rd. Finally, Credit Suisse Group started coverage on Southern in a research note on Monday, April 25th. They set an “underperform” rating and a $77.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $73.29.

Shares of Southern stock opened at $76.07 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.89 and a quick ratio of 0.70. The Southern Company has a 1 year low of $60.12 and a 1 year high of $77.24. The company has a market capitalization of $80.83 billion, a P/E ratio of 35.22, a P/E/G ratio of 5.14 and a beta of 0.48. The business has a 50 day moving average price of $73.99 and a 200 day moving average price of $68.87.

Southern (NYSE:SOGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06. Southern had a return on equity of 11.35% and a net margin of 10.09%. The firm had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the previous year, the firm posted $0.98 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, research analysts expect that The Southern Company will post 3.56 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 6th. Investors of record on Monday, May 16th will be given a dividend of $0.68 per share. This is an increase from Southern’s previous quarterly dividend of $0.66. This represents a $2.72 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Friday, May 13th. Southern’s payout ratio is currently 125.93%.

In other Southern news, EVP Christopher Cummiskey sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $64.73, for a total value of $129,460.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen E. Kuczynski sold 14,500 shares of the business’s stock in a transaction on Monday, March 21st. The shares were sold at an average price of $68.29, for a total value of $990,205.00. The disclosure for this sale can be found here. Insiders sold a total of 317,331 shares of company stock valued at $22,954,324 over the last quarter. 0.43% of the stock is currently owned by insiders.

Southern Profile (Get Rating)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.

Further Reading

Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Southern Company (NYSE:SOGet Rating).

Institutional Ownership by Quarter for Southern (NYSE:SO)

Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.