Energy Income Partners LLC Cuts Stock Holdings in Southern Co (NYSE:SO)

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Energy Income Partners LLC trimmed its holdings in shares of Southern Co (NYSE:SO) by 79.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,626 shares of the utilities provider’s stock after selling 51,694 shares during the period. Energy Income Partners LLC’s holdings in Southern were worth $753,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SO. California State Teachers Retirement System raised its stake in Southern by 1.3% in the second quarter. California State Teachers Retirement System now owns 1,688,886 shares of the utilities provider’s stock worth $93,362,000 after buying an additional 22,381 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in Southern in the second quarter worth about $13,818,000. AQR Capital Management LLC raised its stake in Southern by 21.4% in the second quarter. AQR Capital Management LLC now owns 1,096,918 shares of the utilities provider’s stock worth $60,638,000 after buying an additional 193,252 shares in the last quarter. Man Group plc raised its stake in Southern by 6.6% in the second quarter. Man Group plc now owns 834,227 shares of the utilities provider’s stock worth $46,116,000 after buying an additional 51,745 shares in the last quarter. Finally, Beacon Pointe Advisors LLC bought a new position in Southern in the second quarter worth about $219,000. Institutional investors own 58.36% of the company’s stock.

In related news, EVP James Y. Kerr II sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $58.16, for a total transaction of $1,454,000.00. Following the completion of the sale, the executive vice president now owns 67,655 shares of the company’s stock, valued at $3,934,814.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen E. Kuczynski sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $56.00, for a total transaction of $112,000.00. Following the sale, the chief executive officer now directly owns 73,772 shares of the company’s stock, valued at approximately $4,131,232. The disclosure for this sale can be found here. Insiders have sold 59,775 shares of company stock valued at $3,514,566 in the last ninety days. Insiders own 0.88% of the company’s stock.

Shares of NYSE SO opened at $61.08 on Friday. Southern Co has a fifty-two week low of $42.50 and a fifty-two week high of $61.14. The company has a 50 day simple moving average of $58.41 and a two-hundred day simple moving average of $54.78. The company has a market capitalization of $62.99 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 4.42 and a beta of 0.17. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.59 and a current ratio of 0.76.

Southern (NYSE:SO) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.08. Southern had a net margin of 20.18% and a return on equity of 10.04%. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter last year, the firm earned $0.80 earnings per share. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. On average, analysts forecast that Southern Co will post 3.04 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, August 19th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Friday, August 16th. Southern’s dividend payout ratio is 80.78%.

A number of equities analysts recently issued reports on the stock. UBS Group increased their price target on shares of Southern from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Bank of America increased their price target on shares of Southern from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Mizuho increased their price target on shares of Southern from $48.50 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Morgan Stanley decreased their price target on shares of Southern from $55.00 to $54.00 and set an “underweight” rating for the company in a research note on Friday, August 16th. Finally, Barclays reissued a “hold” rating and issued a $57.00 price target on shares of Southern in a research note on Wednesday, June 19th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $55.70.

Southern Profile

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 facilities 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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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