Duff & Phelps Investment Management Co. Reduces Stake in Southern Company (The) $SO

Duff & Phelps Investment Management Co. trimmed its position in Southern Company (The) (NYSE:SO) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,151,486 shares of the utilities provider’s stock after selling 194,488 shares during the period. Southern comprises 1.2% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 28th biggest holding. Duff & Phelps Investment Management Co. owned about 0.10% of Southern worth $109,126,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its stake in shares of Southern by 17.5% during the 1st quarter. Empowered Funds LLC now owns 34,003 shares of the utilities provider’s stock worth $3,127,000 after acquiring an additional 5,067 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in Southern by 0.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 59,217 shares of the utilities provider’s stock worth $5,438,000 after purchasing an additional 393 shares during the period. Aviva PLC raised its holdings in Southern by 4.3% in the 2nd quarter. Aviva PLC now owns 18,714 shares of the utilities provider’s stock worth $1,719,000 after purchasing an additional 771 shares during the period. PFG Advisors purchased a new position in Southern during the second quarter valued at $234,000. Finally, ProShare Advisors LLC grew its holdings in Southern by 10.1% during the second quarter. ProShare Advisors LLC now owns 213,898 shares of the utilities provider’s stock valued at $19,642,000 after purchasing an additional 19,661 shares during the period. 64.10% of the stock is currently owned by institutional investors.

Southern Stock Performance

NYSE:SO opened at $96.21 on Thursday. The stock has a 50-day moving average price of $91.36 and a 200 day moving average price of $91.51. The stock has a market capitalization of $105.93 billion, a P/E ratio of 24.48, a P/E/G ratio of 2.91 and a beta of 0.44. Southern Company has a 12-month low of $83.09 and a 12-month high of $100.83. The company has a current ratio of 0.65, a quick ratio of 0.47 and a debt-to-equity ratio of 1.69.

Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, February 18th. The utilities provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Southern had a return on equity of 12.52% and a net margin of 14.69%.The business had revenue of $6.98 billion during the quarter, compared to analysts’ expectations of $6.41 billion. During the same period in the prior year, the firm posted $0.50 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts forecast that Southern Company will post 4.29 EPS for the current fiscal year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Tuesday, February 17th were given a dividend of $0.74 per share. The ex-dividend date was Tuesday, February 17th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.1%. Southern’s dividend payout ratio is currently 75.32%.

Wall Street Analyst Weigh In

A number of analysts have commented on SO shares. Weiss Ratings restated a “buy (b)” rating on shares of Southern in a research report on Wednesday, January 21st. Evercore raised shares of Southern from an “in-line” rating to an “outperform” rating and set a $111.00 target price for the company in a report on Thursday, March 5th. UBS Group decreased their target price on shares of Southern from $98.00 to $94.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Morgan Stanley reaffirmed an “underweight” rating on shares of Southern in a report on Friday, February 20th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $102.00 price target on shares of Southern in a research report on Monday, February 23rd. Six equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $98.08.

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.