Wellington Management Group LLP boosted its stake in shares of Southern Company (The) (NYSE:SO) by 34.2% during the first quarter, Holdings Channel reports. The institutional investor owned 795,727 shares of the utilities provider’s stock after buying an additional 202,787 shares during the period. Wellington Management Group LLP’s holdings in Southern Company (The) were worth $39,612,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Orrstown Financial Services Inc. increased its position in Southern Company (The) by 10.8% in the first quarter. Orrstown Financial Services Inc. now owns 2,050 shares of the utilities provider’s stock valued at $102,000 after buying an additional 200 shares in the last quarter. Symmetry Partners LLC purchased a new position in Southern Company (The) during the first quarter valued at about $103,000. Feltz Wealth PLAN Inc. purchased a new position in Southern Company (The) during the first quarter valued at about $108,000. Stuart Chaussee & Associates Inc. increased its position in Southern Company (The) by 358.8% in the first quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock valued at $111,000 after buying an additional 1,740 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its position in Southern Company (The) by 115.7% in the first quarter. AlphaMark Advisors LLC now owns 2,349 shares of the utilities provider’s stock valued at $117,000 after buying an additional 1,260 shares in the last quarter. 53.57% of the stock is owned by institutional investors.

Southern Company (NYSE:SO) opened at 49.00 on Tuesday. The firm’s 50 day moving average price is $48.60 and its 200-day moving average price is $49.48. The company has a market capitalization of $48.97 billion, a PE ratio of 80.59 and a beta of 0.12. Southern Company has a 12-month low of $46.20 and a 12-month high of $53.73.

Southern Company (The) (NYSE:SO) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.23 billion. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The business’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. On average, equities analysts anticipate that Southern Company will post $2.95 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st will be paid a $0.58 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $2.32 dividend on an annualized basis and a yield of 4.73%. Southern Company (The)’s dividend payout ratio (DPR) is currently 346.27%.

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Several research firms have recently issued reports on SO. Credit Suisse Group raised Southern Company (The) from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 3rd. BidaskClub raised shares of Southern Company (The) from a “sell” rating to a “hold” rating in a research report on Friday. Royal Bank Of Canada reissued a “hold” rating and set a $53.00 target price on shares of Southern Company (The) in a research report on Monday, July 31st. Deutsche Bank AG raised shares of Southern Company (The) from a “hold” rating to a “buy” rating and increased their target price for the company from $50.00 to $52.00 in a research report on Tuesday, August 1st. Finally, Barclays PLC reissued a “buy” rating and set a $54.00 target price on shares of Southern Company (The) in a research report on Tuesday, July 25th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.54.

In other news, insider Art P. Beattie sold 46,940 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $51.50, for a total transaction of $2,417,410.00. Following the transaction, the insider now directly owns 59,493 shares of the company’s stock, valued at $3,063,889.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ann P. Daiss sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $51.28, for a total value of $256,400.00. Following the transaction, the insider now directly owns 7,394 shares in the company, valued at $379,164.32. The disclosure for this sale can be found here. Insiders sold a total of 152,084 shares of company stock worth $7,665,158 over the last ninety days. Insiders own 0.74% of the company’s stock.

Southern Company (The) 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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Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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