National Pension Service Buys 180,451 Shares of Southern Company (The) (NYSE:SO)

Key Points

• The National Pension Service increased its stake in Southern Company by 6.9%, owning 2,780,525 shares valued at approximately $255.7 million.
• Southern Company reported EPS of $0.91 for the last quarter, missing analysts' expectations, but had revenues of $6.97 billion, exceeding consensus estimates.
• The company declared a quarterly dividend of $0.74, representing a 3.2% yield, with the ex-dividend date on August 18th.

National Pension Service increased its position in Southern Company (The) (NYSE:SO - Free Report) by 6.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,780,525 shares of the utilities provider's stock after purchasing an additional 180,451 shares during the period. National Pension Service owned about 0.25% of Southern worth $255,669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SO. Investors Research Corp boosted its stake in 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 purchasing an additional 216 shares during the period. Cheviot Value Management LLC acquired a new position in Southern in the 1st quarter worth approximately $28,000. Financial Connections Group Inc. acquired a new stake in shares of Southern during the 1st quarter valued at $33,000. Rossby Financial LCC acquired a new stake in shares of Southern during the 1st quarter valued at $39,000. Finally, Elequin Capital LP boosted its stake in shares of Southern by 60.6% during the 4th quarter. Elequin Capital LP now owns 498 shares of the utilities provider's stock valued at $41,000 after buying an additional 188 shares during the period. Institutional investors and hedge funds own 64.10% of the company's stock.

Southern Stock Performance

Southern stock traded down $0.54 during trading hours on Thursday, reaching $94.25. 5,252,457 shares of the company were exchanged, compared to its average volume of 5,366,870. Southern Company has a 12 month low of $80.46 and a 12 month high of $96.44. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.69. The stock has a 50-day moving average of $92.38 and a 200 day moving average of $90.09. The firm has a market cap of $103.68 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 3.28 and a beta of 0.38.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.08). Southern had a return on equity of 12.09% and a net margin of 15.10%. The firm had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Southern's quarterly revenue was up 7.9% compared to the same quarter last year. As a group, research analysts anticipate that Southern Company will post 4.29 earnings per share for the current year.

Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 18th will be paid a $0.74 dividend. The ex-dividend date is Monday, August 18th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.1%. Southern's payout ratio is presently 76.09%.

Wall Street Analyst Weigh In

SO has been the subject of a number of research reports. KeyCorp lowered shares of Southern from a "sector weight" rating to an "underweight" rating and set a $78.00 target price for the company. in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lifted their target price on shares of Southern from $94.00 to $97.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Raymond James Financial initiated coverage on shares of Southern in a research note on Friday, June 13th. They set an "outperform" rating and a $98.00 target price for the company. Guggenheim reissued a "neutral" rating and set a $93.00 target price on shares of Southern in a research note on Friday, May 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Southern from $95.00 to $99.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $94.29.

Insider Activity at Southern

In related news, CEO Kimberly S. Greene sold 13,158 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $95.00, for a total transaction of $1,250,010.00. Following the completion of the transaction, the chief executive officer owned 93,661 shares of the company's stock, valued at approximately $8,897,795. The trade was a 12.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company's stock.

Southern Company 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.