State of Alaska Department of Revenue grew its position in Southern Company (The) (NYSE:SO) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 379,233 shares of the utilities provider’s stock after purchasing an additional 18,485 shares during the period. Southern Company (The) comprises about 1.2% of State of Alaska Department of Revenue’s holdings, making the stock its 7th largest position. State of Alaska Department of Revenue’s holdings in Southern Company (The) were worth $18,156,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SO. Symmetry Partners LLC acquired a new position in Southern Company (The) in the 1st quarter worth about $103,000. Stuart Chaussee & Associates Inc. increased its position in Southern Company (The) by 358.8% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 1,740 shares during the last quarter. IHT Wealth Management LLC increased its position in Southern Company (The) by 15.3% in the 1st quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 302 shares during the last quarter. AlphaMark Advisors LLC increased its position in Southern Company (The) by 115.7% in the 1st quarter. AlphaMark Advisors LLC now owns 2,349 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 1,260 shares during the last quarter. Finally, Ruggie Capital Group increased its position in Southern Company (The) by 228.0% in the 1st quarter. Ruggie Capital Group now owns 2,578 shares of the utilities provider’s stock worth $128,000 after purchasing an additional 1,792 shares during the last quarter. 53.27% of the stock is currently owned by institutional investors.

Shares of Southern Company (NYSE:SO) traded up 0.48% on Friday, hitting $50.64. The stock had a trading volume of 7,244,756 shares. Southern Company has a one year low of $46.20 and a one year high of $53.73. The stock has a market capitalization of $50.61 billion, a PE ratio of 83.29 and a beta of 0.13. The firm’s 50 day moving average is $48.86 and its 200-day moving average is $49.47.

Southern Company (The) (NYSE:SO) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.23 billion. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. Southern Company (The)’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. Equities research analysts expect that Southern Company will post $2.94 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Monday, August 21st were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend was Thursday, August 17th. Southern Company (The)’s dividend payout ratio is currently 346.27%.

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In related news, EVP Christopher C. Womack sold 75,144 shares of Southern Company (The) stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total value of $3,703,847.76. Following the sale, the executive vice president now owns 85,298 shares of the company’s stock, valued at $4,204,338.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

Several brokerages have weighed in on SO. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $53.00 target price on shares of Southern Company (The) in a research report on Monday, July 31st. Guggenheim raised Southern Company (The) from a “neutral” rating to a “buy” rating and upped their target price for the stock from $49.00 to $56.00 in a research report on Thursday. J P Morgan Chase & Co began coverage on Southern Company (The) in a research report on Tuesday, August 8th. They issued an “overweight” rating and a $16.78 target price on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $56.00 target price (up from $55.00) on shares of Southern Company (The) in a research report on Tuesday, September 12th. Finally, Credit Suisse Group raised Southern Company (The) from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.63.

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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