Graypoint LLC Grows Holdings in Southern Company (The) (NYSE:SO)

Graypoint LLC grew its holdings in Southern Company (The) (NYSE:SO - Free Report) by 73.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,272 shares of the utilities provider's stock after acquiring an additional 3,919 shares during the period. Graypoint LLC's holdings in Southern were worth $853,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Southern by 23.2% in the first quarter. GAMMA Investing LLC now owns 21,253 shares of the utilities provider's stock valued at $1,954,000 after buying an additional 4,005 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in Southern by 56.6% in the 4th quarter. Proficio Capital Partners LLC now owns 3,547 shares of the utilities provider's stock valued at $292,000 after buying an additional 1,282 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Southern by 4.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,645 shares of the utilities provider's stock worth $427,000 after purchasing an additional 182 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Southern by 4.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 398,624 shares of the utilities provider's stock valued at $32,815,000 after purchasing an additional 15,923 shares during the last quarter. Finally, New Age Alpha Advisors LLC raised its position in Southern by 16,464.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 31,969 shares of the utilities provider's stock valued at $2,632,000 after purchasing an additional 31,776 shares during the period. Hedge funds and other institutional investors own 64.10% of the company's stock.

Southern Trading Up 0.8%

Shares of NYSE SO traded up $0.77 during midday trading on Friday, reaching $94.10. 4,197,840 shares of the stock were exchanged, compared to its average volume of 4,739,768. The stock has a 50 day moving average price of $89.96 and a 200-day moving average price of $88.43. The company has a current ratio of 0.86, a quick ratio of 0.65 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $103.42 billion, a P/E ratio of 22.46, a P/E/G ratio of 3.23 and a beta of 0.38. Southern Company has a 52-week low of $80.46 and a 52-week high of $94.62.

Southern (NYSE:SO - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.03. The business had revenue of $7.78 billion during 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 business's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. Equities research analysts expect that Southern Company will post 4.29 earnings per share for the current fiscal year.

Southern Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Monday, May 19th were paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.15%. This is a boost from Southern's previous quarterly dividend of $0.72. Southern's payout ratio is currently 70.64%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Guggenheim reaffirmed a "neutral" rating and set a $93.00 price objective on shares of Southern in a research report on Friday, May 2nd. 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. Jefferies Financial Group upgraded Southern from a "hold" rating to a "buy" rating and dropped their price target for the company from $102.00 to $100.00 in a research report on Thursday, June 5th. Morgan Stanley reduced their target price on shares of Southern from $91.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. Finally, Raymond James Financial initiated coverage on Southern in a research report on Friday, June 13th. They issued an "outperform" rating and a $98.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $93.20.

Southern 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.