Arbejdsmarkedets Tillaegspension Takes Position in Southern Company (The) $SO

Key Points

• Arbejdsmarkedets Tillaegspension disclosed a new fourth-quarter stake in Southern Company, buying 272,066 shares worth about $23.7 million.
• Southern reported strong quarterly results, with earnings of $1.32 per share topping estimates and revenue of $8.40 billion beating expectations; revenue also rose 8% year over year.
• The utility raised its quarterly dividend to $0.76 per share from $0.74, implying a 3.2% yield, while analysts currently rate the stock a consensus Hold with a $99.85 price target.

Arbejdsmarkedets Tillaegspension acquired a new stake in Southern Company (The) (NYSE:SO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 272,066 shares of the utilities provider's stock, valued at approximately $23,724,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. New York Life Investment Management LLC boosted its stake in shares of Southern by 1.1% in the 4th quarter. New York Life Investment Management LLC now owns 151,069 shares of the utilities provider's stock valued at $13,173,000 after buying an additional 1,579 shares during the period. Cornerstone Wealth Management LLC raised its position in shares of Southern by 31.9% during the 4th quarter. Cornerstone Wealth Management LLC now owns 6,798 shares of the utilities provider's stock worth $593,000 after acquiring an additional 1,643 shares in the last quarter. Pinnacle Associates Ltd. raised its position in shares of Southern by 2.2% during the 4th quarter. Pinnacle Associates Ltd. now owns 128,109 shares of the utilities provider's stock worth $11,171,000 after acquiring an additional 2,729 shares in the last quarter. Simmons Bank raised its position in shares of Southern by 3.8% during the 4th quarter. Simmons Bank now owns 75,839 shares of the utilities provider's stock worth $6,613,000 after acquiring an additional 2,777 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Southern by 123.9% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 721,571 shares of the utilities provider's stock worth $63,023,000 after acquiring an additional 399,289 shares in the last quarter. Hedge funds and other institutional investors own 64.10% of the company's stock.

Southern Trading Up 0.5%

Shares of SO stock opened at $93.62 on Friday. The business's 50 day moving average is $95.44 and its two-hundred day moving average is $91.79. Southern Company has a twelve month low of $83.80 and a twelve month high of $100.83. The company has a market capitalization of $105.54 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 2.82 and a beta of 0.36. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Thursday, April 30th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.11. Southern had a return on equity of 12.64% and a net margin of 14.46%.The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same period last year, the business posted $1.23 EPS. The company's revenue was up 8.0% on a year-over-year basis. Equities analysts forecast that Southern Company will post 4.57 EPS for the current year.

Southern Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, May 18th will be paid a $0.76 dividend. This is an increase from Southern's previous quarterly dividend of $0.74. The ex-dividend date is Monday, May 18th. This represents a $3.04 annualized dividend and a dividend yield of 3.2%. Southern's dividend payout ratio (DPR) is 75.32%.

Insider Activity at Southern

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company set a $96.00 target price on Southern and gave the stock an "equal weight" rating in a research report on Friday, February 20th. Mizuho set a $105.00 target price on Southern in a research report on Friday, May 1st. Royal Bank Of Canada reissued a "sector perform" rating and set a $105.00 target price on shares of Southern in a research report on Friday, January 23rd. Raymond James Financial reissued an "outperform" rating and set a $104.00 target price on shares of Southern in a research report on Friday, May 1st. Finally, Citigroup restated a "buy" rating on shares of Southern in a research note on Friday, April 10th. Seven equities research 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $99.85.

Southern Company 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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