Quantinno Capital Management LP Raises Stake in Southern Company (The) $SO

Key Points

• Quantinno Capital Management increased its Southern Company stake by 35.5% in the first quarter, adding 120,316 shares to own 459,563 shares valued at approximately $44.4 million. Institutional investors collectively hold 64.1% of Southern’s stock.
• Southern reported first-quarter earnings of $1.32 per share, beating estimates of $1.21, while revenue rose 8% year over year to $8.40 billion. Analysts expect full-year EPS of $4.58.
• The company declared a quarterly dividend of $0.76 per share, equivalent to a 3.2% yield, while Wall Street maintains a consensus “Hold” rating and a $100.21 target price.

Quantinno Capital Management LP grew its stake in Southern Company (The) (NYSE:SO - Free Report) by 35.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 459,563 shares of the utilities provider's stock after acquiring an additional 120,316 shares during the quarter. Quantinno Capital Management LP's holdings in Southern were worth $44,357,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SO. Uptick Partners LLC raised its stake in Southern by 1.5% during the first quarter. Uptick Partners LLC now owns 7,601 shares of the utilities provider's stock worth $734,000 after purchasing an additional 110 shares during the period. Seelaus Asset Management LLC grew its stake in shares of Southern by 2.4% in the 1st quarter. Seelaus Asset Management LLC now owns 4,923 shares of the utilities provider's stock valued at $475,000 after buying an additional 115 shares during the period. Stokes Family Office LLC grew its stake in shares of Southern by 0.7% in the 4th quarter. Stokes Family Office LLC now owns 15,994 shares of the utilities provider's stock valued at $1,395,000 after buying an additional 115 shares during the period. Leonteq Securities AG increased its holdings in shares of Southern by 4.7% during the 1st quarter. Leonteq Securities AG now owns 2,657 shares of the utilities provider's stock worth $256,000 after buying an additional 119 shares during the last quarter. Finally, Accredited Investors Inc. raised its position in shares of Southern by 5.2% during the 4th quarter. Accredited Investors Inc. now owns 2,446 shares of the utilities provider's stock valued at $213,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 64.10% of the company's stock.

Southern Stock Down 0.6%

Shares of NYSE:SO opened at $96.24 on Thursday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.65 and a quick ratio of 0.45. The firm has a market capitalization of $108.49 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 1.86 and a beta of 0.34. The firm's 50-day moving average is $94.59 and its two-hundred day moving average is $93.94. Southern Company has a 1 year low of $83.80 and a 1 year high of $100.83.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.11. Southern had a net margin of 14.46% and a return on equity of 12.64%. The business had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.07 billion. During the same quarter in the prior year, the company earned $1.23 earnings per share. The business's quarterly revenue was up 8.0% on a year-over-year basis. Analysts predict that Southern Company will post 4.58 EPS for the current year.

Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, August 17th. Southern's dividend payout ratio is presently 77.35%.

Wall Street Analyst Weigh In

SO has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of Southern from $99.00 to $98.00 and set an "equal weight" rating for the company in a research report on Thursday, June 18th. Morgan Stanley restated an "underweight" rating on shares of Southern in a report on Wednesday, July 22nd. Citigroup reaffirmed a "buy" rating on shares of Southern in a research report on Friday, April 10th. Mizuho set a $105.00 target price on shares of Southern in a report on Friday, May 1st. Finally, Weiss Ratings raised Southern from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Southern currently has an average rating of "Hold" and a consensus target price of $100.21.

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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