California State Teachers Retirement System Buys 35,357 Shares of Southern Company (The) $SO

California State Teachers Retirement System increased its holdings in shares of Southern Company (The) (NYSE:SO - Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,312,265 shares of the utilities provider's stock after purchasing an additional 35,357 shares during the period. California State Teachers Retirement System owned approximately 0.11% of Southern worth $125,596,883 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in SO. Ameritas Advisory Services LLC lifted its position in shares of Southern by 197.9% during the 2nd quarter. Ameritas Advisory Services LLC now owns 26,269 shares of the utilities provider's stock valued at $2,514,000 after acquiring an additional 17,451 shares during the period. Wedmont Private Capital boosted its holdings in shares of Southern by 3.2% in the second quarter. Wedmont Private Capital now owns 18,489 shares of the utilities provider's stock valued at $1,768,000 after buying an additional 576 shares during the period. Kintra Wealth LLC lifted its position in shares of Southern by 49.6% in the second quarter. Kintra Wealth LLC now owns 8,368 shares of the utilities provider's stock valued at $776,000 after buying an additional 2,773 shares during the last quarter. HB Wealth Management LLC lifted its holdings in shares of Southern by 9.8% during the 2nd quarter. HB Wealth Management LLC now owns 210,104 shares of the utilities provider's stock worth $20,109,000 after acquiring an additional 18,795 shares during the period. Finally, Saudi Central Bank lifted its stake in shares of Southern by 94.2% in the second quarter. Saudi Central Bank now owns 78,911 shares of the utilities provider's stock worth $7,553,000 after acquiring an additional 38,268 shares during the period. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Price Performance

Southern stock traded down $0.79 during mid-day trading on Tuesday, hitting $86.22. 2,923,079 shares of the company traded hands, compared to its average volume of 5,726,093. The stock has a fifty day moving average price of $92.36 and a 200-day moving average price of $94.00. The stock has a market cap of $99.18 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 2.32 and a beta of 0.33. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.79. Southern Company has a one year low of $83.80 and a one year 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 (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.12. The business had revenue of $6.98 billion during the quarter, compared to analyst estimates of $7.23 billion. Southern had a return on equity of 12.93% and a net margin of 15.43%.Southern's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. On average, equities analysts predict that Southern Company will post 4.59 earnings per share for the current fiscal year.

Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 17th were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, August 17th. Southern's dividend payout ratio (DPR) is presently 72.90%.

Wall Street Analysts Forecast Growth

SO has been the subject of several research analyst reports. KeyCorp lowered shares of Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 target price for the company. in a research report on Thursday, July 23rd. Truist Financial lowered their price objective on Southern from $100.00 to $97.00 and set a "hold" rating for the company in a research report on Thursday, August 13th. Wall Street Zen downgraded Southern from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Weiss Ratings reissued a "buy (b)" rating on shares of Southern in a research note on Wednesday, July 29th. Finally, BMO Capital Markets increased their target price on Southern from $102.00 to $104.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $100.09.

About Southern

Southern Company NYSE: SO is an energy holding company that provides electricity and natural gas services through a group of regulated utility subsidiaries. Its electric utilities generate, transmit and distribute power to residential, commercial and industrial customers, while its gas businesses distribute natural gas and provide related energy services.

The company's principal electric subsidiaries include Alabama Power, Georgia Power and Mississippi Power. Southern Company also operates Southern Nuclear, which manages the company's nuclear generation interests, including the Vogtle nuclear expansion in Georgia.

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