Southern Company (The) (NYSE:SO) Holdings Increased by Cahaba Wealth Management Inc.

Cahaba Wealth Management Inc. increased its position in Southern Company (The) (NYSE:SO - Free Report) by 14.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 319,826 shares of the utilities provider's stock after acquiring an additional 41,373 shares during the period. Southern makes up about 2.4% of Cahaba Wealth Management Inc.'s investment portfolio, making the stock its 10th biggest position. Cahaba Wealth Management Inc.'s holdings in Southern were worth $29,408,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Southern by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 102,790,453 shares of the utilities provider's stock worth $8,461,710,000 after purchasing an additional 698,422 shares in the last quarter. Geode Capital Management LLC grew its holdings in Southern by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 25,050,209 shares of the utilities provider's stock valued at $2,056,441,000 after buying an additional 528,870 shares during the last quarter. Northern Trust Corp increased its position in Southern by 4.5% during the fourth quarter. Northern Trust Corp now owns 10,805,269 shares of the utilities provider's stock worth $889,490,000 after buying an additional 460,594 shares in the last quarter. Norges Bank acquired a new position in shares of Southern in the fourth quarter worth $848,019,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Southern by 23.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,208,872 shares of the utilities provider's stock valued at $428,794,000 after acquiring an additional 979,756 shares in the last quarter. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Trading Down 0.7%

Shares of NYSE SO traded down $0.66 during midday trading on Friday, hitting $92.60. The stock had a trading volume of 5,014,903 shares, compared to its average volume of 4,712,465. The company has a quick ratio of 0.65, a current ratio of 0.86 and a debt-to-equity ratio of 1.69. Southern Company has a 1-year low of $79.30 and a 1-year high of $94.45. The company has a market capitalization of $101.77 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 3.31 and a beta of 0.38. The company has a fifty day moving average price of $89.82 and a 200 day moving average price of $88.18.

Southern (NYSE:SO - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. Southern had a net margin of 16.54% and a return on equity of 12.70%. The firm had revenue of $7.78 billion for the quarter, compared to analysts' expectations of $7.17 billion. During the same period in the previous year, the company posted $1.03 earnings per share. Southern's revenue was up 17.0% compared to the same quarter last year. On average, analysts predict that Southern Company will post 4.29 earnings per share for the current year.

Southern Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Monday, May 19th were issued a $0.74 dividend. This is an increase from Southern's previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 3.20%. Southern's dividend payout ratio is currently 70.64%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Raymond James Financial assumed coverage on shares of Southern in a report on Friday, June 13th. They issued an "outperform" rating and a $98.00 target price on the stock. Morgan Stanley cut their price objective on shares of Southern from $91.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. KeyCorp cut 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. Wells Fargo & Company boosted their price target on Southern from $95.00 to $99.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, Jefferies Financial Group upgraded Southern from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $102.00 to $100.00 in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Southern presently has a consensus rating of "Hold" and a consensus price target of $92.93.

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.