Southern Company (The) $SO Stock Holdings Boosted by MUFG Securities EMEA plc

Key Points

• MUFG Securities EMEA plc more than doubled its Southern Company stake in the fourth quarter, lifting its holdings by 114.2% to 45,112 shares worth about $3.93 million.
• Southern reported strong quarterly results, posting EPS of $1.32 versus estimates of $1.21 and revenue of $8.40 billion, with revenue rising 8% year over year.
• The utility also raised its quarterly dividend to $0.76 per share, implying a 3.4% annual yield, while analysts currently rate the stock a consensus Hold with a $99.38 price target.

MUFG Securities EMEA plc lifted its position in shares of Southern Company (The) (NYSE:SO - Free Report) by 114.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 45,112 shares of the utilities provider's stock after acquiring an additional 24,056 shares during the period. MUFG Securities EMEA plc's holdings in Southern were worth $3,934,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Southern by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 108,057,413 shares of the utilities provider's stock worth $9,422,606,000 after acquiring an additional 1,643,090 shares during the last quarter. Capital World Investors grew its position in Southern by 320.3% in the 3rd quarter. Capital World Investors now owns 33,548,852 shares of the utilities provider's stock valued at $3,179,425,000 after buying an additional 25,567,431 shares in the last quarter. Geode Capital Management LLC grew its position in Southern by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 27,259,125 shares of the utilities provider's stock valued at $2,381,344,000 after buying an additional 384,860 shares in the last quarter. Norges Bank bought a new position in Southern in the 4th quarter valued at about $1,111,450,000. Finally, Legal & General Group Plc grew its position in Southern by 3.5% in the 3rd quarter. Legal & General Group Plc now owns 8,532,530 shares of the utilities provider's stock valued at $808,628,000 after buying an additional 285,546 shares in the last quarter. Institutional investors own 64.10% of the company's stock.

Southern Price Performance

Shares of NYSE SO opened at $89.04 on Tuesday. Southern Company has a twelve month low of $83.80 and a twelve month high of $100.83. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $100.37 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 2.78 and a beta of 0.34. The firm has a 50-day moving average of $94.47 and a two-hundred day moving average of $91.83.

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 for the quarter, beating analysts' consensus estimates of $1.21 by $0.11. Southern had a net margin of 14.46% and a return on equity of 12.64%. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the prior year, the company earned $1.23 EPS. Southern's revenue was up 8.0% on a year-over-year basis. As a group, analysts expect that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Monday, May 18th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.4%. This is an increase from Southern's previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, May 18th. Southern's payout ratio is 77.35%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SO. Morgan Stanley reiterated an "underweight" rating and issued a $87.00 target price on shares of Southern in a research report on Thursday, May 21st. Weiss Ratings upgraded shares of Southern from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 1st. Wells Fargo & Company set a $96.00 target price on shares of Southern and gave the company an "equal weight" rating in a research report on Friday, February 20th. Citigroup reiterated a "buy" rating on shares of Southern in a research report on Friday, April 10th. Finally, Mizuho set a $105.00 target price on shares of Southern in a research report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $99.38.

Insider Activity at Southern

In other news, EVP Christopher Cummiskey sold 6,669 shares of Southern stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $96.55, for a total value of $643,891.95. Following the transaction, the executive vice president directly owned 30,800 shares of the company's stock, valued at $2,973,740. This trade represents a 17.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kimberly S. Greene sold 25,000 shares of Southern stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the completion of the transaction, the chief executive officer directly owned 103,602 shares in the company, valued at approximately $10,015,205.34. This trade represents a 19.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company's stock.

Southern Profile

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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