Stableford Capital II LLC Purchases 762 Shares of The Southern Company (NYSE:SO)

Stableford Capital II LLC increased its position in The Southern Company (NYSE:SOFree Report) by 5.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,946 shares of the utilities provider’s stock after acquiring an additional 762 shares during the period. Stableford Capital II LLC’s holdings in Southern were worth $1,000,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Southern by 0.4% during the third quarter. Vanguard Group Inc. now owns 99,572,665 shares of the utilities provider’s stock valued at $6,444,343,000 after purchasing an additional 352,023 shares in the last quarter. Capital International Investors lifted its position in Southern by 53.2% during the fourth quarter. Capital International Investors now owns 16,444,163 shares of the utilities provider’s stock valued at $1,153,065,000 after purchasing an additional 5,707,845 shares in the last quarter. Northern Trust Corp lifted its position in Southern by 1.6% during the third quarter. Northern Trust Corp now owns 10,737,843 shares of the utilities provider’s stock valued at $694,953,000 after purchasing an additional 163,986 shares in the last quarter. Morgan Stanley lifted its position in shares of Southern by 3.7% in the third quarter. Morgan Stanley now owns 9,811,307 shares of the utilities provider’s stock valued at $634,988,000 after acquiring an additional 349,122 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Southern in the fourth quarter valued at about $631,068,000. Institutional investors own 64.10% of the company’s stock.

Southern Trading Up 1.2 %

NYSE SO traded up $0.93 during trading hours on Thursday, hitting $78.87. 3,995,691 shares of the company were exchanged, compared to its average volume of 4,673,766. The stock has a 50-day moving average price of $76.35 and a 200 day moving average price of $71.93. The company has a quick ratio of 0.65, a current ratio of 0.92 and a debt-to-equity ratio of 1.67. The Southern Company has a 52 week low of $61.56 and a 52 week high of $80.84. The stock has a market cap of $86.24 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 2.81 and a beta of 0.51.

Southern (NYSE:SOGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.13. The company had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.59 billion. Southern had a return on equity of 12.07% and a net margin of 16.74%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. Analysts forecast that The Southern Company will post 3.99 earnings per share for the current fiscal year.

Southern Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Monday, May 20th were paid a dividend of $0.72 per share. This is a boost from Southern’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, May 17th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.65%. Southern’s dividend payout ratio is currently 74.42%.

Analyst Ratings Changes

Several brokerages have recently commented on SO. UBS Group downgraded Southern from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $78.00 to $76.00 in a research report on Thursday, April 4th. Mizuho boosted their price objective on Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Barclays boosted their price objective on Southern from $65.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Wells Fargo & Company boosted their price objective on Southern from $72.00 to $77.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Finally, Bank of America boosted their price objective on Southern from $73.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.36.

View Our Latest Analysis on Southern

Insider Activity

In other news, CEO Kimberly S. Greene sold 9,126 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total transaction of $684,815.04. Following the transaction, the chief executive officer now owns 121,504 shares of the company’s stock, valued at $9,117,660.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

Southern Company Profile

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy 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, gas distribution operations, and gas pipeline investments operations.

See Also

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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