Caisse de depot et placement du Quebec bought a new position in Southern Company (The) (NYSE:SO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 21,348 shares of the utilities provider's stock, valued at approximately $2,043,000.
Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in Southern in the 4th quarter valued at about $1,111,450,000. Legal & General Group Plc bought a new position in Southern during the second quarter worth about $737,256,000. Capital World Investors increased its stake in shares of Southern by 22.6% in the fourth quarter. Capital World Investors now owns 41,142,076 shares of the utilities provider's stock worth $3,587,589,000 after purchasing an additional 7,593,224 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Southern by 18.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,459,462 shares of the utilities provider's stock valued at $3,004,866,000 after purchasing an additional 5,436,212 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Southern during the 2nd quarter worth about $264,829,000. 64.10% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. KeyCorp lowered Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 target price for the company. in a report on Thursday, July 23rd. BMO Capital Markets increased their price target on shares of Southern from $102.00 to $104.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. Barclays cut their price objective on shares of Southern from $99.00 to $98.00 and set an "equal weight" rating for the company in a research report on Thursday, June 18th. Wall Street Zen lowered shares of Southern from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Southern from $101.00 to $104.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $100.09.
Check Out Our Latest Research Report on Southern
Southern Price Performance
Southern stock opened at $88.18 on Friday. The stock has a market cap of $101.44 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 1.69 and a beta of 0.34. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62. The business has a 50-day simple moving average of $94.12 and a 200 day simple moving average of $94.38. Southern Company has a 52 week low of $83.80 and a 52 week high of $100.83.
Southern (NYSE:SO - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.12. The firm had revenue of $6.98 billion for the quarter, compared to analysts' expectations of $7.23 billion. Southern had a return on equity of 12.93% and a net margin of 15.43%.The company's revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.79 EPS. On average, research analysts forecast that Southern Company will post 4.59 earnings per share for the current fiscal year.
Southern Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, August 17th. Southern's dividend payout ratio is 72.90%.
About Southern
(
Free Report)
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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