Bollard Group LLC Has $42.71 Million Position in Southern Company (The) $SO

Key Points

• Bollard Group LLC increased its stake in Southern Company to 450,621 shares (a 5.7% increase) worth about $42.71 million, making SO its 14th-largest holding and ~1.0% of Bollard's portfolio.
• Southern reported a slight EPS miss ($0.55 vs. $0.56) while revenue jumped 10.1% to $6.98 billion; the company pays a quarterly dividend of $0.74 ($2.96 annualized) for a ~3.0% yield and a 75.3% payout ratio.
• Analysts have a consensus rating of Hold with a $98.08 average price target, though recent notes are mixed (TD Cowen and Evercore upgraded/raised targets while UBS and JPM lowered theirs); institutional ownership is about 64.1%.

Bollard Group LLC increased its holdings in Southern Company (The) (NYSE:SO - Free Report) by 5.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 450,621 shares of the utilities provider's stock after purchasing an additional 24,127 shares during the period. Southern makes up 1.0% of Bollard Group LLC's portfolio, making the stock its 14th biggest position. Bollard Group LLC's holdings in Southern were worth $42,705,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Brevan Howard Capital Management LP grew its stake in shares of Southern by 251.8% in the 3rd quarter. Brevan Howard Capital Management LP now owns 87,982 shares of the utilities provider's stock valued at $8,338,000 after purchasing an additional 62,972 shares during the period. Clark Capital Management Group Inc. raised its stake in Southern by 2.3% during the third quarter. Clark Capital Management Group Inc. now owns 851,405 shares of the utilities provider's stock worth $80,688,000 after acquiring an additional 19,319 shares in the last quarter. Bank of Nova Scotia lifted its holdings in shares of Southern by 10.6% during the third quarter. Bank of Nova Scotia now owns 148,459 shares of the utilities provider's stock valued at $14,069,000 after acquiring an additional 14,262 shares during the period. Beck Mack & Oliver LLC lifted its holdings in shares of Southern by 15.3% during the third quarter. Beck Mack & Oliver LLC now owns 3,400 shares of the utilities provider's stock valued at $322,000 after acquiring an additional 450 shares during the period. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Southern during the 3rd quarter worth about $13,975,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. TD Cowen boosted their price target on shares of Southern from $108.00 to $112.00 and gave the company a "buy" rating in a research report on Friday, March 6th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $105.00 price target on shares of Southern in a research note on Friday, January 23rd. UBS Group cut their target price on shares of Southern from $98.00 to $94.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 17th. JPMorgan Chase & Co. reduced their target price on shares of Southern from $104.00 to $93.00 and set a "neutral" rating on the stock in a research note on Monday, December 15th. Finally, Evercore raised shares of 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. Six 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. According to MarketBeat.com, Southern has an average rating of "Hold" and a consensus price target of $98.08.

Southern Trading Up 0.2%

NYSE:SO opened at $98.06 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.47 and a debt-to-equity ratio of 1.69. Southern Company has a 1-year low of $83.09 and a 1-year high of $100.83. The firm has a market capitalization of $107.97 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 2.96 and a beta of 0.44. The business's 50-day moving average price is $91.79 and its two-hundred day moving average price is $91.58.

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

Southern Announces Dividend

The company 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 was Tuesday, February 17th. This represents a $2.96 annualized dividend and a yield of 3.0%. Southern's dividend payout ratio (DPR) is 75.32%.

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.

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