Cerity Partners LLC Boosts Stock Position in Southern Company (The) (NYSE:SO)

Cerity Partners LLC grew its holdings in shares of Southern Company (The) (NYSE:SO - Free Report) by 20.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,602 shares of the utilities provider's stock after purchasing an additional 38,587 shares during the period. Cerity Partners LLC's holdings in Southern were worth $21,020,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Miracle Mile Advisors LLC boosted its stake in Southern by 0.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 15,928 shares of the utilities provider's stock worth $1,465,000 after buying an additional 110 shares during the last quarter. Keudell Morrison Wealth Management boosted its stake in Southern by 1.1% in the 1st quarter. Keudell Morrison Wealth Management now owns 10,032 shares of the utilities provider's stock worth $922,000 after buying an additional 110 shares during the last quarter. West Branch Capital LLC boosted its stake in Southern by 23.0% in the 1st quarter. West Branch Capital LLC now owns 616 shares of the utilities provider's stock worth $57,000 after buying an additional 115 shares during the last quarter. PFW Advisors LLC boosted its stake in Southern by 1.9% in the 1st quarter. PFW Advisors LLC now owns 6,114 shares of the utilities provider's stock worth $562,000 after buying an additional 116 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. boosted its stake in Southern by 1.4% in the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 8,565 shares of the utilities provider's stock worth $788,000 after buying an additional 116 shares during the last quarter. 64.10% of the stock is currently owned by hedge funds and other institutional investors.

Southern Stock Up 0.9%

Shares of NYSE:SO traded up $0.79 during mid-day trading on Wednesday, hitting $93.26. 4,498,115 shares of the company traded hands, compared to its average volume of 4,727,895. The firm has a market cap of $102.50 billion, a P/E ratio of 22.26, a PEG ratio of 3.31 and a beta of 0.38. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.65 and a current ratio of 0.86. Southern Company has a 52-week low of $80.26 and a 52-week high of $94.45. The firm's 50 day simple moving average is $89.88 and its 200 day simple moving average is $88.32.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.17 billion. Southern had a return on equity of 12.70% and a net margin of 16.54%. The company's revenue was up 17.0% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. On average, equities analysts anticipate that Southern Company will post 4.29 EPS for the current year.

Southern Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Monday, May 19th were issued a dividend of $0.74 per share. This is an increase from Southern's previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 3.17%. Southern's payout ratio is currently 70.64%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SO shares. UBS Group raised their price target on Southern from $94.00 to $97.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. raised their price target on Southern from $94.00 to $97.00 and gave the stock a "neutral" rating in a research note on Tuesday. Barclays raised their price target on Southern from $90.00 to $91.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Morgan Stanley reduced their price objective on Southern from $91.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Finally, Wells Fargo & Company lifted their price objective on Southern from $95.00 to $99.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Southern presently has a consensus rating of "Hold" and a consensus target price of $93.20.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.