Mitsubishi UFJ Trust & Banking Corp Sells 212,222 Shares of The Southern Company (NYSE:SO)

Mitsubishi UFJ Trust & Banking Corp reduced its position in The Southern Company (NYSE:SO) by 18.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 944,479 shares of the utilities provider’s stock after selling 212,222 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of The Southern worth $58,642,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Alpha DNA Investment Management LLC bought a new stake in shares of The Southern in the fourth quarter valued at about $26,000. Retirement Group LLC bought a new stake in shares of The Southern in the fourth quarter valued at about $27,000. ShoreHaven Wealth Partners LLC purchased a new position in The Southern in the fourth quarter valued at about $29,000. Field & Main Bank grew its stake in The Southern by 66.7% in the fourth quarter. Field & Main Bank now owns 500 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Finally, Canton Hathaway LLC purchased a new position in The Southern in the first quarter valued at about $31,000. Hedge funds and other institutional investors own 59.09% of the company’s stock.

In other news, insider Ann P. Daiss sold 4,425 shares of the stock in a transaction dated Tuesday, May 4th. The stock was sold at an average price of $66.05, for a total value of $292,271.25. Following the transaction, the insider now owns 14,501 shares in the company, valued at approximately $957,791.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen E. Kuczynski sold 2,500 shares of the stock in a transaction dated Friday, April 9th. The shares were sold at an average price of $62.97, for a total value of $157,425.00. Following the completion of the transaction, the chief executive officer now owns 96,651 shares in the company, valued at approximately $6,086,113.47. The disclosure for this sale can be found here. Insiders sold a total of 42,474 shares of company stock worth $2,778,346 in the last ninety days. 0.43% of the stock is owned by corporate insiders.

Several research firms have issued reports on SO. Morgan Stanley cut their target price on The Southern from $62.00 to $61.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 18th. Credit Suisse Group restated a “buy” rating on shares of The Southern in a research note on Wednesday, May 19th. Argus lifted their target price on The Southern from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, May 19th. Barclays lifted their target price on The Southern from $70.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, May 25th. Finally, KeyCorp lifted their target price on The Southern from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, April 21st. Three research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The Southern has a consensus rating of “Hold” and a consensus price target of $67.08.

Shares of NYSE:SO opened at $63.88 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 1.41. The company has a fifty day moving average of $64.45. The stock has a market cap of $67.69 billion, a PE ratio of 19.96, a P/E/G ratio of 3.93 and a beta of 0.44. The Southern Company has a 52-week low of $50.40 and a 52-week high of $66.93.

The Southern (NYSE:SO) last issued its earnings results on Thursday, April 29th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.44 billion. The Southern had a return on equity of 11.28% and a net margin of 15.99%. Analysts predict that The Southern Company will post 3.33 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, June 7th. Shareholders of record on Monday, May 17th were given a $0.66 dividend. The ex-dividend date of this dividend was Friday, May 14th. This represents a $2.64 dividend on an annualized basis and a yield of 4.13%. This is a positive change from The Southern’s previous quarterly dividend of $0.64. The Southern’s dividend payout ratio (DPR) is currently 81.23%.

About The Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy and battery energy storage projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.

Featured Article: The primary rules of Elliott Wave theory

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

Receive News & Ratings for The Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Southern and related companies with MarketBeat.com's FREE daily email newsletter.