Rehmann Capital Advisory Group increased its holdings in shares of Southern Co (NYSE:SO) by 11.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,764 shares of the utilities provider’s stock after purchasing an additional 2,152 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Southern were worth $999,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of SO. BlackRock Inc. grew its stake in shares of Southern by 1.3% during the 4th quarter. BlackRock Inc. now owns 62,955,468 shares of the utilities provider’s stock worth $3,027,527,000 after acquiring an additional 821,503 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Southern by 3.5% during the 4th quarter. Wells Fargo & Company MN now owns 10,933,765 shares of the utilities provider’s stock worth $525,805,000 after acquiring an additional 370,302 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Southern by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 10,321,563 shares of the utilities provider’s stock worth $495,300,000 after acquiring an additional 342,203 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Southern by 3.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 9,378,775 shares of the utilities provider’s stock worth $460,666,000 after acquiring an additional 352,722 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Southern by 4.2% during the 3rd quarter. Legal & General Group Plc now owns 7,292,675 shares of the utilities provider’s stock worth $358,339,000 after acquiring an additional 291,409 shares in the last quarter. 56.39% of the stock is owned by institutional investors and hedge funds.
SO has been the subject of several research reports. Mizuho reaffirmed a “buy” rating and set a $55.00 price target on shares of Southern in a research note on Friday, December 8th. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Tuesday, December 12th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Southern in a research note on Friday, December 22nd. SunTrust Banks reaffirmed a “hold” rating and set a $50.00 price target on shares of Southern in a research note on Tuesday, December 26th. Finally, Guggenheim reaffirmed a “buy” rating and set a $52.00 price target on shares of Southern in a research note on Wednesday, January 3rd. Seven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $49.47.
Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. Southern had a return on equity of 11.96% and a net margin of 3.82%. The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter last year, the firm posted $0.24 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. analysts forecast that Southern Co will post 2.9 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 5.26%. The ex-dividend date was Friday, February 16th. Southern’s dividend payout ratio is 272.94%.
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Southern 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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