Czech National Bank Purchases 20,992 Shares of Southern Company (The) $SO

Key Points

• Czech National Bank increased its Southern Company stake by 7% in the second quarter, buying 20,992 additional shares and bringing its holdings to 320,873 shares valued at approximately $30.7 million. Institutional investors collectively own 64.1% of the company.
• Southern reported quarterly EPS of $1.13, beating the $1.01 consensus estimate, while revenue of $6.98 billion fell short of expectations. Analysts maintain a consensus “Hold” rating with an average price target of $100.26.
• The company declared a quarterly dividend of $0.76 per share, equivalent to $3.04 annually and a 3.3% yield, payable September 8 to shareholders of record as of August 17.

Czech National Bank lifted its position in shares of Southern Company (The) (NYSE:SO - Free Report) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 320,873 shares of the utilities provider's stock after purchasing an additional 20,992 shares during the quarter. Czech National Bank's holdings in Southern were worth $30,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SO. PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in shares of Southern by 10.8% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 192,080 shares of the utilities provider's stock worth $18,384,000 after buying an additional 18,800 shares in the last quarter. Apella Capital LLC raised its stake in Southern by 9.5% during the second quarter. Apella Capital LLC now owns 28,968 shares of the utilities provider's stock worth $2,818,000 after acquiring an additional 2,511 shares in the last quarter. 55 North Private Wealth LLC boosted its stake in shares of Southern by 19.9% in the 2nd quarter. 55 North Private Wealth LLC now owns 3,903 shares of the utilities provider's stock valued at $374,000 after purchasing an additional 648 shares in the last quarter. Evanson Financial LLC bought a new stake in shares of Southern in the 2nd quarter worth about $266,000. Finally, Bill Few Associates Inc. increased its position in shares of Southern by 20.3% during the 2nd quarter. Bill Few Associates Inc. now owns 5,925 shares of the utilities provider's stock worth $567,000 after purchasing an additional 998 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Jefferies Financial Group set a $99.00 price objective on shares of Southern in a research note on Monday, June 22nd. Mizuho set a $106.00 target price on Southern in a report on Friday, July 31st. Wall Street Zen lowered Southern from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Raymond James Financial reaffirmed an "outperform" rating and set a $104.00 price target on shares of Southern in a report on Friday, May 1st. Finally, Morgan Stanley reiterated an "underweight" rating on shares of Southern in a research report on Wednesday, July 22nd. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Southern currently has an average rating of "Hold" and a consensus target price of $100.26.

Southern Trading Down 0.4%

Shares of NYSE SO opened at $92.76 on Friday. Southern Company has a 1-year low of $83.80 and a 1-year high of $100.83. The company has a market cap of $106.71 billion, a PE ratio of 22.24, a P/E/G ratio of 1.79 and a beta of 0.34. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The company has a 50-day moving average of $94.54 and a two-hundred day moving average of $94.18.

Southern (NYSE:SO - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.01 by $0.12. The business had revenue of $6.98 billion for the quarter, compared to analysts' expectations of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. Southern's revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 earnings per share. As a group, equities analysts expect that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, August 17th. Southern's dividend payout ratio (DPR) is presently 72.90%.

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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