Eagle Ridge Investment Management raised its stake in shares of Southern Company (The) (NYSE:SO) by 12.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,281 shares of the utilities provider’s stock after purchasing an additional 11,306 shares during the period. Eagle Ridge Investment Management’s holdings in Southern Company (The) were worth $4,782,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Southern Company (The) by 2,961.9% during the 1st quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock valued at $3,089,736,000 after buying an additional 60,040,696 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Southern Company (The) by 205.4% during the 1st quarter. Ameriprise Financial Inc. now owns 8,803,018 shares of the utilities provider’s stock valued at $438,168,000 after buying an additional 5,920,212 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Southern Company (The) by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 68,758,138 shares of the utilities provider’s stock valued at $3,422,780,000 after buying an additional 2,688,854 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Southern Company (The) by 876.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,074,910 shares of the utilities provider’s stock valued at $53,509,000 after buying an additional 964,800 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Southern Company (The) by 20.3% during the 1st quarter. Swiss National Bank now owns 4,978,424 shares of the utilities provider’s stock valued at $247,826,000 after buying an additional 841,100 shares in the last quarter. 53.28% of the stock is owned by institutional investors and hedge funds.

Shares of Southern Company (SO) opened at 48.82 on Monday. Southern Company has a 52-week low of $46.20 and a 52-week high of $53.73. The company has a 50-day moving average of $48.99 and a 200-day moving average of $49.45. The stock has a market capitalization of $48.79 billion, a price-to-earnings ratio of 80.30 and a beta of 0.13.

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

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st were issued a $0.58 dividend. The ex-dividend date was Thursday, August 17th. This represents a $2.32 annualized dividend and a yield of 4.75%. Southern Company (The)’s payout ratio is 346.27%.

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Several brokerages have recently issued reports on SO. Royal Bank Of Canada restated a “hold” rating and set a $53.00 target price on shares of Southern Company (The) in a research report on Monday, July 31st. J P Morgan Chase & Co began coverage on shares of Southern Company (The) in a research report on Tuesday, August 8th. They set an “overweight” rating and a $16.78 target price on the stock. Credit Suisse Group upgraded shares of Southern Company (The) from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 3rd. BidaskClub upgraded shares of Southern Company (The) from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Guggenheim upgraded shares of Southern Company (The) from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $56.00 in a research report on Thursday, September 14th. 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 company. The stock currently has an average rating of “Hold” and an average price target of $49.63.

In other Southern Company (The) news, EVP Christopher C. Womack sold 75,144 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $49.29, for a total value of $3,703,847.76. Following the transaction, the executive vice president now directly owns 85,298 shares in the company, valued at approximately $4,204,338.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.

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

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