Two Sigma Securities LLC Makes New Investment in Southern Company (The) $SO

Key Points

• Two Sigma Securities initiated a position in Southern Company during the second quarter, purchasing 15,351 shares valued at approximately $1.47 million. Institutional investors collectively own 64.1% of the utility’s stock.
• Southern reported quarterly EPS of $1.13, exceeding the $1.01 consensus estimate, while revenue reached $6.98 billion. Analysts expect full-year EPS of approximately $4.59.
• The company declared a quarterly dividend of $0.76 per share, equivalent to a $3.04 annualized payout and a 3.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $100.09.

Two Sigma Securities LLC acquired a new stake in Southern Company (The) (NYSE:SO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,351 shares of the utilities provider's stock, valued at approximately $1,469,000.

Other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. raised its holdings in Southern by 1.4% in the second quarter. Benjamin Edwards Inc. now owns 202,906 shares of the utilities provider's stock valued at $19,422,000 after buying an additional 2,779 shares during the period. Hennessy Advisors Inc. lifted its position in Southern by 3.0% during the second quarter. Hennessy Advisors Inc. now owns 263,900 shares of the utilities provider's stock valued at $25,258,000 after buying an additional 7,800 shares in the last quarter. Greenleaf Trust grew its stake in Southern by 3.2% during the second quarter. Greenleaf Trust now owns 28,986 shares of the utilities provider's stock worth $2,774,000 after buying an additional 904 shares during the period. Capital Advisors Inc. OK increased its position in shares of Southern by 9.6% in the second quarter. Capital Advisors Inc. OK now owns 1,139,024 shares of the utilities provider's stock worth $109,016,000 after acquiring an additional 99,735 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Southern by 9.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,681,674 shares of the utilities provider's stock worth $543,793,000 after acquiring an additional 508,149 shares in the last quarter. Hedge funds and other institutional investors own 64.10% of the company's stock.

Southern Trading Down 0.1%

NYSE SO opened at $88.12 on Tuesday. The company has a market capitalization of $101.37 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 1.69 and a beta of 0.34. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.79 and a quick ratio of 0.59. Southern Company has a 12 month low of $83.80 and a 12 month high of $100.83. The company's fifty day moving average price is $94.01 and its two-hundred day moving average price is $94.40.

Southern (NYSE:SO - Get Free Report) last released its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.12. The company had revenue of $6.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. The company's revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 EPS. As a group, research analysts predict that Southern Company will post 4.59 earnings per share for the current fiscal year.

Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, August 17th. Southern's payout ratio is currently 72.90%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of Southern from $99.00 to $98.00 and set an "equal weight" rating on the stock in a report on Thursday, June 18th. Morgan Stanley lowered their price target on Southern from $92.00 to $89.00 and set an "underweight" rating for the company in a report on Friday, August 21st. JPMorgan Chase & Co. raised their price objective on Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Wall Street Zen cut Southern from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Southern in a research report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $100.09.

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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