Schmidt P J Investment Management Inc. cut its position in shares of Southern Company (The) (NYSE:SO) by 19.8% during the second quarter, Holdings Channel reports. The firm owned 9,500 shares of the utilities provider’s stock after selling 2,350 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Southern Company (The) were worth $455,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Osborn Williams & Donohoe LLC increased its position in shares of Southern Company (The) by 0.6% in the second quarter. Osborn Williams & Donohoe LLC now owns 18,235 shares of the utilities provider’s stock worth $873,000 after buying an additional 100 shares in the last quarter. Howard Capital Management increased its position in shares of Southern Company (The) by 1.1% in the second quarter. Howard Capital Management now owns 7,670 shares of the utilities provider’s stock worth $367,000 after buying an additional 83 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of Southern Company (The) by 2.4% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 38,458 shares of the utilities provider’s stock worth $1,842,000 after buying an additional 892 shares in the last quarter. Gulf International Bank UK Ltd increased its position in shares of Southern Company (The) by 1.8% in the second quarter. Gulf International Bank UK Ltd now owns 311,080 shares of the utilities provider’s stock worth $14,894,000 after buying an additional 5,428 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Southern Company (The) by 1.4% in the second quarter. US Bancorp DE now owns 360,359 shares of the utilities provider’s stock worth $17,255,000 after buying an additional 4,805 shares in the last quarter. Institutional investors own 53.57% of the company’s stock.

Southern Company (NYSE:SO) traded up 0.0297% during midday trading on Thursday, reaching $48.8645. 1,371,915 shares of the company traded hands. The firm has a 50 day moving average of $48.21 and a 200-day moving average of $49.47. The stock has a market capitalization of $48.84 billion, a price-to-earnings ratio of 80.3692 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 released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. Analysts forecast that Southern Company will post $2.95 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date is Thursday, August 17th. Southern Company (The)’s dividend payout ratio is 346.27%.

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A number of equities analysts have recently commented on the stock. BidaskClub downgraded shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research note on Thursday. J P Morgan Chase & Co assumed coverage on shares of Southern Company (The) in a research note on Tuesday. They issued an “overweight” rating and a $16.78 target price on the stock. Credit Suisse Group raised shares of Southern Company (The) from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 3rd. Deutsche Bank AG raised shares of Southern Company (The) from a “hold” rating to a “buy” rating and raised their target price for the company from $50.00 to $52.00 in a research note on Tuesday, August 1st. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $53.00 target price on shares of Southern Company (The) in a research note on Monday, July 31st. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $48.87.

In other news, CEO Mark Lantrip sold 25,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $51.50, for a total value of $1,287,500.00. Following the completion of the transaction, the chief executive officer now owns 31,080 shares in the company, valued at approximately $1,600,620. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christopher C. Womack sold 75,144 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the completion of the transaction, the executive vice president now owns 85,298 shares of the company’s stock, valued at approximately $4,204,338.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,084 shares of company stock valued at $7,665,158. Corporate insiders own 1.00% of the company’s stock.

About Southern Company (The)

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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