Vise Technologies Inc. acquired a new position in shares of Southern Company (The) (NYSE:SO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 84,267 shares of the utilities provider's stock, valued at approximately $8,065,000.
Other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC raised its position in shares of Southern by 17.5% in the 1st quarter. Empowered Funds LLC now owns 34,003 shares of the utilities provider's stock valued at $3,127,000 after purchasing an additional 5,067 shares in the last quarter. Schnieders Capital Management LLC. grew its position in shares of Southern by 0.7% during the second quarter. Schnieders Capital Management LLC. now owns 59,217 shares of the utilities provider's stock worth $5,438,000 after buying an additional 393 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Southern in the second quarter worth $655,000. Sei Investments Co. increased its stake in shares of Southern by 11.5% in the second quarter. Sei Investments Co. now owns 449,960 shares of the utilities provider's stock worth $41,320,000 after buying an additional 46,504 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Southern by 2.7% in the second quarter. Treasurer of the State of North Carolina now owns 514,736 shares of the utilities provider's stock valued at $47,268,000 after acquiring an additional 13,392 shares in the last quarter. 64.10% of the stock is owned by institutional investors and hedge funds.
Southern Stock Down 0.8%
Shares of Southern stock opened at $91.47 on Friday. The stock has a market capitalization of $105.22 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.77 and a beta of 0.34. 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 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The business's 50 day simple moving average is $94.62 and its 200-day simple moving average is $94.44.
Southern (NYSE:SO - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.12. Southern had a return on equity of 12.93% and a net margin of 15.43%.The business had revenue of $6.98 billion during the quarter, compared to analyst estimates of $7.23 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. The business's revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts forecast that Southern Company will post 4.58 earnings per share for the current year.
Southern Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, August 17th. Southern's dividend payout ratio (DPR) is presently 72.90%.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on SO. Barclays decreased their price objective on shares of Southern from $99.00 to $98.00 and set an "equal weight" rating for the company in a report on Thursday, June 18th. JPMorgan Chase & Co. increased their price target on shares of Southern from $101.00 to $104.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. Morgan Stanley reissued an "underweight" rating on shares of Southern in a report on Wednesday, July 22nd. KeyCorp downgraded Southern from a "sector weight" rating to an "underweight" rating and set a $79.00 target price on the stock. in a report on Thursday, July 23rd. Finally, Wall Street Zen lowered Southern from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Southern presently has an average rating of "Hold" and an average target price of $100.09.
Read Our Latest Report on SO
About Southern
(
Free Report)
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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