27,147 Shares in Southern Company (The) $SO Purchased by Delta Global Management LP

Key Points

• Delta Global Management LP opened a new position in Southern Company, buying 27,147 shares valued at about $2.37 million in the fourth quarter.
• Southern reported better-than-expected quarterly results, with EPS of $1.32 versus estimates of $1.21 and revenue of $8.40 billion, up 8% year over year.
• The utility also raised its quarterly dividend to $0.76 per share from $0.74, bringing the annualized payout to $3.04 and a yield of about 3.2%.

Delta Global Management LP bought a new stake in shares of Southern Company (The) (NYSE:SO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,147 shares of the utilities provider's stock, valued at approximately $2,367,000.

Several other large investors have also modified their holdings of SO. Capital World Investors boosted its position in shares of Southern by 320.3% during the third quarter. Capital World Investors now owns 33,548,852 shares of the utilities provider's stock valued at $3,179,425,000 after buying an additional 25,567,431 shares during the period. Norges Bank purchased a new stake in shares of Southern in the fourth quarter valued at approximately $1,111,450,000. Soroban Capital Partners LP boosted its holdings in shares of Southern by 83.8% in the second quarter. Soroban Capital Partners LP now owns 4,097,422 shares of the utilities provider's stock valued at $376,266,000 after purchasing an additional 1,867,912 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Southern by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 108,057,413 shares of the utilities provider's stock valued at $9,422,606,000 after purchasing an additional 1,643,090 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Southern in the fourth quarter valued at approximately $131,968,000. Hedge funds and other institutional investors own 64.10% of the company's stock.

Southern Stock Performance

Shares of NYSE:SO opened at $93.82 on Tuesday. The company has a market capitalization of $105.76 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 2.84 and a beta of 0.34. Southern Company has a 52 week low of $83.80 and a 52 week high of $100.83. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. The firm has a 50 day moving average of $93.87 and a 200 day moving average of $92.00.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.11. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. Southern's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.23 earnings per share. On average, sell-side analysts predict that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, May 18th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, May 18th. This is a boost from Southern's previous quarterly dividend of $0.74. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.2%. Southern's payout ratio is currently 77.35%.

Insiders Place Their Bets

In other news, CEO Kimberly S. Greene sold 25,000 shares of the company's stock in a transaction on Monday, March 30th. The stock was sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the transaction, the chief executive officer directly owned 103,602 shares of the company's stock, valued at approximately $10,015,205.34. This represents a 19.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christopher Cummiskey sold 6,669 shares of the company's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $96.55, for a total value of $643,891.95. Following the transaction, the executive vice president directly owned 30,800 shares in the company, valued at approximately $2,973,740. The trade was a 17.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Jefferies Financial Group reiterated a "hold" rating and issued a $102.00 price target on shares of Southern in a report on Monday, February 23rd. Wells Fargo & Company set a $96.00 price target on Southern and gave the company an "equal weight" rating in a report on Friday, February 20th. Weiss Ratings upgraded Southern from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 1st. Seaport Research Partners downgraded shares of Southern from a "buy" rating to a "neutral" rating in a research note on Monday, April 20th. Finally, Mizuho set a $105.00 price objective on shares of Southern in a research note on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $99.38.

Southern Profile

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.

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