Southern Company (The) (SO) Position Lifted by Intersect Capital LLC

Intersect Capital LLC increased its stake in Southern Company (The) (NYSE:SO) by 85.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,478 shares of the utilities provider’s stock after purchasing an additional 3,448 shares during the period. Intersect Capital LLC’s holdings in Southern Company (The) were worth $358,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in SO. Waldron LP acquired a new stake in Southern Company (The) in the first quarter valued at about $216,000. Capital Investment Advisory Services LLC boosted its stake in Southern Company (The) by 30.4% in the first quarter. Capital Investment Advisory Services LLC now owns 8,154 shares of the utilities provider’s stock valued at $406,000 after buying an additional 1,901 shares in the last quarter. First Trust Advisors LP boosted its stake in Southern Company (The) by 8.2% in the first quarter. First Trust Advisors LP now owns 1,783,776 shares of the utilities provider’s stock valued at $88,796,000 after buying an additional 135,667 shares in the last quarter. MCF Advisors LLC boosted its stake in Southern Company (The) by 77.3% in the first quarter. MCF Advisors LLC now owns 2,792 shares of the utilities provider’s stock valued at $139,000 after buying an additional 1,217 shares in the last quarter. Finally, Greatmark Investment Partners Inc. boosted its stake in Southern Company (The) by 1.2% in the first quarter. Greatmark Investment Partners Inc. now owns 40,763 shares of the utilities provider’s stock valued at $2,029,000 after buying an additional 500 shares in the last quarter. 53.27% of the stock is currently owned by institutional investors and hedge funds.

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Several research firms recently weighed in on SO. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Southern Company (The) in a research note on Monday, July 31st. J P Morgan Chase & Co began coverage on Southern Company (The) in a research note on Tuesday, August 8th. They issued an “overweight” rating and a $16.78 price objective on the stock. Zacks Investment Research raised Southern Company (The) from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Tuesday. BidaskClub raised Southern Company (The) from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Credit Suisse Group raised Southern Company (The) from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $49.44.

Shares of Southern Company (SO) opened at 50.24 on Wednesday. The firm has a market capitalization of $50.21 billion, a price-to-earnings ratio of 82.63 and a beta of 0.13. The stock’s 50 day moving average price is $49.16 and its 200-day moving average price is $49.33. Southern Company has a 52 week low of $46.20 and a 52 week high of $52.23.

Southern Company (The) (NYSE:SO) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.23 billion. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The company’s revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 EPS. Equities analysts predict that Southern Company will post $2.95 earnings per share for the current year.

In related news, EVP Christopher C. Womack sold 75,144 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the completion of the sale, the executive vice president now directly owns 85,298 shares in the company, valued at approximately $4,204,338.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.74% of the company’s stock.

Southern Company (The) Company Profile

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

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Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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