Nykredit A S Takes $10.39 Million Position in Southern Company (The) $SO

Key Points

• Nykredit A/S acquired 108,591 shares of Southern Company in the second quarter, representing a position worth approximately $10.39 million. Institutional investors and hedge funds collectively own 64.1% of the stock.
• Southern reported quarterly earnings of $1.13 per share, exceeding analysts’ $1.01 estimate, while revenue came in at $6.98 billion, below the $7.23 billion consensus forecast.
• The company declared a quarterly dividend of $0.76 per share, or $3.04 annualized, yielding about 3.5%. Analysts maintain an average “Hold” rating with a consensus price target of $100.09, compared with shares recently trading at $87.90.

Nykredit A S bought a new stake in Southern Company (The) (NYSE:SO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 108,591 shares of the utilities provider's stock, valued at approximately $10,393,000.

A number of other institutional investors have also added to or reduced their stakes in SO. Evergreen Advisors LLC bought a new stake in shares of Southern in the 1st quarter worth approximately $25,000. Scarborough Advisors LLC acquired a new position in shares of Southern in the first quarter valued at $25,000. Ankerstar Wealth LLC bought a new position in Southern in the fourth quarter worth $25,000. Cornerstone Financial Management LLC bought a new position in Southern in the fourth quarter worth $27,000. Finally, J.Safra Asset Management Corp acquired a new stake in Southern during the fourth quarter worth $27,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Trading Down 1.0%

Shares of Southern stock opened at $87.90 on Friday. Southern Company has a 12-month low of $83.80 and a 12-month high of $100.83. The stock has a market capitalization of $101.12 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 2.35 and a beta of 0.33. The company has a 50-day simple moving average of $93.40 and a 200 day simple moving average of $94.26. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62.

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 analysts' consensus estimates of $1.01 by $0.12. The firm had revenue of $6.98 billion for the quarter, compared to analyst estimates of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. The company's revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. Research analysts expect that Southern Company will post 4.59 earnings per share for the current fiscal year.

Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be given a dividend of $0.76 per share. The ex-dividend date is Monday, August 17th. This represents a $3.04 dividend on an annualized basis and a yield of 3.5%. Southern's dividend payout ratio is 72.90%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SO. JPMorgan Chase & Co. boosted their price target on shares of Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Jefferies Financial Group set a $99.00 target price on shares of Southern in a research report on Monday, June 22nd. Wall Street Zen lowered shares of Southern from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Mizuho set a $106.00 price target on shares of Southern in a research note on Friday, July 31st. Finally, Barclays decreased their price objective on Southern from $99.00 to $98.00 and set an "equal weight" rating on the stock in a report on Thursday, June 18th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $100.09.

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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