16,465 Shares in Southern Company (The) $SO Acquired by Capital International Sarl

Key Points

• Capital International Sarl opened a new position in Southern Company during Q3, buying 16,465 shares worth about $1.56 million, and institutional investors now own roughly 64.1% of the stock.
• Southern reported last-quarter EPS of $0.55 (missing estimates by $0.01) while revenue rose 10.1% to $6.98 billion, and it pays a quarterly dividend of $0.74 (annualized yield ~3.1%, payout ratio ~75%).
• Analysts carry a consensus "Hold" rating with an average price target of $98.08, though recent notes range from upgrades (Evercore $111 target) to underweight views; the stock trades near $96 within a 52-week range of $83.09–$100.83.

Capital International Sarl bought a new position in shares of Southern Company (The) (NYSE:SO - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,465 shares of the utilities provider's stock, valued at approximately $1,560,000.

Several other large investors have also modified their holdings of the business. Cloud Capital Management LLC purchased a new position in shares of Southern in the third quarter valued at approximately $25,000. Grey Fox Wealth Advisors LLC purchased a new position in shares of Southern during the third quarter worth about $29,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Southern in the 3rd quarter valued at $34,000. Chilton Capital Management LLC increased its position in Southern by 120.1% in the 3rd quarter. Chilton Capital Management LLC now owns 361 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 197 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in Southern during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 64.10% of the company's stock.

Southern Price Performance

NYSE SO opened at $96.25 on Wednesday. The company has a 50 day simple moving average of $91.18 and a 200-day simple moving average of $91.48. The firm has a market capitalization of $105.98 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 2.94 and a beta of 0.44. Southern Company has a 52-week low of $83.09 and a 52-week high of $100.83. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.65 and a quick ratio of 0.47.

Southern (NYSE:SO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The utilities provider reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.01). The firm had revenue of $6.98 billion for the quarter, compared to analysts' expectations of $6.41 billion. Southern had a return on equity of 12.52% and a net margin of 14.69%.The firm's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the business earned $0.50 earnings per share. Equities research analysts predict that Southern Company will post 4.29 earnings per share for the current fiscal year.

Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th were issued a $0.74 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $2.96 dividend on an annualized basis and a yield of 3.1%. Southern's dividend payout ratio (DPR) is 75.32%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SO shares. Evercore raised Southern from an "in-line" rating to an "outperform" rating and set a $111.00 price target for the company in a research note on Thursday, March 5th. KeyCorp raised shares of Southern from an "underweight" rating to a "sector weight" rating in a research report on Wednesday, March 4th. Wells Fargo & Company set a $96.00 price target on shares of Southern and gave the stock an "equal weight" rating in a research note on Friday, February 20th. Morgan Stanley reiterated an "underweight" rating on shares of Southern in a research note on Friday, February 20th. Finally, Barclays lowered their price objective on shares of Southern from $91.00 to $88.00 and set an "equal weight" rating for the company in a research report on Thursday, January 15th. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $98.08.

About Southern

Southern Company NYSE: SO is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern's principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.