Southern Company (The) (SO) Position Lowered by Alps Advisors Inc.

Alps Advisors Inc. trimmed its stake in Southern Company (The) (NYSE:SO) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 907,041 shares of the utilities provider’s stock after selling 20,039 shares during the period. Alps Advisors Inc. owned approximately 0.09% of Southern worth $44,572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Southern by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 71,053,604 shares of the utilities provider’s stock worth $3,402,047,000 after purchasing an additional 2,295,466 shares during the last quarter. BlackRock Inc. grew its position in Southern by 2,961.9% during the 1st quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock worth $3,089,736,000 after purchasing an additional 60,040,696 shares during the last quarter. State Street Corp grew its position in Southern by 1.1% during the 1st quarter. State Street Corp now owns 48,900,251 shares of the utilities provider’s stock worth $2,434,244,000 after purchasing an additional 515,397 shares during the last quarter. Franklin Resources Inc. grew its position in Southern by 3.6% during the 2nd quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock worth $1,071,547,000 after purchasing an additional 770,413 shares during the last quarter. Finally, Capital Research Global Investors grew its position in Southern by 25.3% during the 2nd quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock worth $715,338,000 after purchasing an additional 3,015,226 shares during the last quarter. 53.78% of the stock is currently owned by hedge funds and other institutional investors.

Southern Company (NYSE:SO) traded down $0.09 during mid-day trading on Monday, hitting $51.11. 4,709,900 shares of the stock traded hands, compared to its average volume of 4,671,519. Southern Company has a one year low of $46.23 and a one year high of $53.51. The firm has a market cap of $51,295.43, a PE ratio of 18.58, a PEG ratio of 4.61 and a beta of 0.13. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57.

Southern (NYSE:SO) last released its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Southern had a net margin of 2.59% and a return on equity of 10.81%. The company had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter last year, the business earned $1.27 EPS. The business’s revenue was down 1.0% on a year-over-year basis. equities research analysts forecast that Southern Company will post 2.95 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Monday, November 20th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Friday, November 17th. Southern’s dividend payout ratio (DPR) is presently 414.29%.

In related news, EVP Christopher C. Womack sold 46,641 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $53.00, for a total value of $2,471,973.00. Following the completion of the sale, the executive vice president now owns 56,799 shares in the company, valued at $3,010,347. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William P. Bowers sold 85,151 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $50.00, for a total transaction of $4,257,550.00. The disclosure for this sale can be found here. Insiders sold a total of 213,813 shares of company stock valued at $11,029,988 in the last 90 days. Company insiders own 0.74% of the company’s stock.

SO has been the topic of several research reports. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Tuesday, October 10th. Guggenheim raised shares of Southern from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $56.00 in a research report on Thursday, September 14th. Jefferies Group reissued a “buy” rating and set a $56.00 price objective (up from $55.00) on shares of Southern in a research report on Tuesday, September 12th. Mizuho raised shares of Southern from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Tuesday, September 5th. Finally, KeyCorp reissued a “hold” rating on shares of Southern in a research report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $49.72.

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Southern 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 (NYSE:SO)

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