Mitsubishi UFJ Trust & Banking Corp Sells 11,742 Shares of Southern Company (The) (NYSE:SO)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in Southern Company by 1.5% during Q1, selling 11,742 shares, and now holds 779,872 shares valued at approximately $71.7 million.
• Southern Company reported $0.91 earnings per share for the last quarter, which missed analysts' expectations, although revenue was above forecasts at $6.97 billion.
• The company declared a quarterly dividend of $0.74 per share, yielding 3.1%, with a payout ratio of 76.09%, scheduled for payment on September 8th.

Mitsubishi UFJ Trust & Banking Corp lowered its position in Southern Company (The) (NYSE:SO - Free Report) by 1.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 779,872 shares of the utilities provider's stock after selling 11,742 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of Southern worth $71,709,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Investors Research Corp grew its stake in shares of Southern by 400.0% in the 1st quarter. Investors Research Corp now owns 270 shares of the utilities provider's stock worth $25,000 after buying an additional 216 shares during the last quarter. Rossby Financial LCC purchased a new stake in shares of Southern in the 1st quarter worth approximately $39,000. Elequin Capital LP grew its stake in shares of Southern by 60.6% in the 4th quarter. Elequin Capital LP now owns 498 shares of the utilities provider's stock worth $41,000 after buying an additional 188 shares during the last quarter. Copia Wealth Management purchased a new stake in shares of Southern in the 4th quarter worth approximately $45,000. Finally, Transce3nd LLC purchased a new stake in shares of Southern in the 4th quarter worth approximately $46,000. Institutional investors own 64.10% of the company's stock.

Southern Stock Performance

SO stock opened at $94.96 on Friday. The company has a market cap of $104.37 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 3.28 and a beta of 0.38. Southern Company has a 1 year low of $80.46 and a 1 year high of $96.44. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.74 and a quick ratio of 0.65. The stock's fifty day moving average price is $91.38 and its 200-day moving average price is $89.46.

Southern (NYSE:SO - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.08). The firm had revenue of $6.97 billion during the quarter, compared to analysts' expectations of $6.70 billion. Southern had a return on equity of 12.09% and a net margin of 15.10%. The business's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $1.10 earnings per share. On average, equities analysts forecast that Southern Company will post 4.29 earnings per share for the current year.

Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 18th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, August 18th. Southern's payout ratio is currently 76.09%.

Wall Street Analysts Forecast Growth

SO has been the topic of several recent analyst reports. Mizuho increased their target price on Southern from $93.00 to $95.00 and gave the company a "neutral" rating in a research note on Friday. Morgan Stanley cut their target price 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. Wells Fargo & Company increased their target price on Southern from $95.00 to $99.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Evercore ISI increased their target price on Southern from $90.00 to $94.00 and gave the company an "in-line" rating in a research note on Friday, May 2nd. Finally, Jefferies Financial Group upgraded Southern from a "hold" rating to a "buy" rating and cut their target price for the company from $102.00 to $100.00 in a research note on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $94.29.

Insider Transactions at Southern

In other Southern news, CEO Kimberly S. Greene sold 13,158 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $95.00, for a total value of $1,250,010.00. Following the completion of the sale, the chief executive officer owned 93,661 shares in the company, valued at $8,897,795. This represents a 12.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company's stock.

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.

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