Southern Company (The) (SO) Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Southern Company (The) (NYSE:SO) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,651,257 shares of the utilities provider’s stock after selling 143,740 shares during the quarter. Bank of New York Mellon Corp owned about 1.06% of Southern worth $523,405,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Captrust Financial Advisors acquired a new position in shares of Southern during the second quarter valued at about $854,000. Fiera Capital Corp boosted its position in Southern by 4.3% in the second quarter. Fiera Capital Corp now owns 34,294 shares of the utilities provider’s stock valued at $1,642,000 after buying an additional 1,399 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in Southern by 1.2% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,317 shares of the utilities provider’s stock valued at $159,000 after buying an additional 38 shares during the last quarter. Pathstone Family Office LLC purchased a new stake in Southern in the first quarter valued at approximately $170,000. Finally, Epoch Investment Partners Inc. boosted its position in Southern by 5.0% in the first quarter. Epoch Investment Partners Inc. now owns 3,249,597 shares of the utilities provider’s stock valued at $161,765,000 after buying an additional 154,093 shares during the last quarter. Hedge funds and other institutional investors own 53.78% of the company’s stock.

Southern Company (NYSE SO) traded up $0.53 during trading on Thursday, reaching $50.89. The company’s stock had a trading volume of 4,041,500 shares, compared to its average volume of 4,676,242. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.73. Southern Company has a 1-year low of $46.58 and a 1-year high of $53.51. The stock has a market cap of $50,542.71, a price-to-earnings ratio of 18.31, a PEG ratio of 4.55 and a beta of 0.13.

Southern (NYSE:SO) last released its quarterly earnings data 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 return on equity of 10.81% and a net margin of 2.59%. The business had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the prior year, the firm posted $1.27 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. sell-side analysts forecast that Southern Company will post 2.95 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th were given a $0.58 dividend. The ex-dividend date was Friday, November 17th. This represents a $2.32 annualized dividend and a yield of 4.56%. Southern’s dividend payout ratio is presently 414.29%.

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

In other news, CEO William P. Bowers sold 85,151 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total transaction of $4,257,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James Y. Kerr II sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $52.16, for a total value of $1,304,000.00. Following the transaction, the vice president now directly owns 26,000 shares of the company’s stock, valued at $1,356,160. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,813 shares of company stock worth $11,029,988. Insiders own 1.00% of the company’s stock.

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About Southern

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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