Norris Perne & French LLP MI raised its position in shares of Southern Company (The) (NYSE:SO) by 1,358.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 119,531 shares of the utilities provider’s stock after purchasing an additional 111,338 shares during the period. Norris Perne & French LLP MI’s holdings in Southern Company (The) were worth $5,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SO. Waldron LP bought a new position in Southern Company (The) during the first quarter valued at $216,000. Enterprise Financial Services Corp grew its holdings in Southern Company (The) by 8.3% during the first quarter. Enterprise Financial Services Corp now owns 2,825 shares of the utilities provider’s stock valued at $141,000 after purchasing an additional 217 shares during the period. Wetherby Asset Management Inc. grew its holdings in Southern Company (The) by 4.8% during the first quarter. Wetherby Asset Management Inc. now owns 12,809 shares of the utilities provider’s stock valued at $638,000 after purchasing an additional 582 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its holdings in Southern Company (The) by 11.7% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 81,873 shares of the utilities provider’s stock valued at $4,075,000 after purchasing an additional 8,580 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in Southern Company (The) by 0.6% during the first quarter. Oregon Public Employees Retirement Fund now owns 236,964 shares of the utilities provider’s stock valued at $11,796,000 after purchasing an additional 1,355 shares during the period. 53.28% of the stock is owned by institutional investors and hedge funds.

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In other news, EVP Christopher C. Womack sold 75,144 shares of the business’s 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 sale, the executive vice president now owns 85,298 shares of the company’s stock, valued at approximately $4,204,338.42. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.74% of the company’s stock.

Southern Company (NYSE SO) opened at 49.03 on Tuesday. The stock has a 50 day moving average price of $48.99 and a 200-day moving average price of $49.45. The company has a market capitalization of $49.00 billion, a price-to-earnings ratio of 80.64 and a beta of 0.13. Southern Company has a 12-month low of $46.20 and a 12-month high of $53.73.

Southern Company (The) (NYSE:SO) last issued its quarterly earnings data 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. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. Equities analysts predict that Southern Company will post $2.94 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend was Thursday, August 17th. Southern Company (The)’s payout ratio is 346.27%.

SO has been the subject of several research reports. Zacks Investment Research lowered Southern Company (The) from a “hold” rating to a “sell” rating in a report on Monday, September 11th. BidaskClub lowered Southern Company (The) from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Macquarie raised Southern Company (The) from a “neutral” rating to an “outperform” rating and set a $52.00 price objective for the company in a report on Monday, July 10th. Morgan Stanley reduced their price objective on Southern Company (The) from $53.00 to $51.00 and set an “underweight” rating for the company in a report on Friday, June 23rd. Finally, KeyCorp reissued a “hold” rating on shares of Southern Company (The) in a report on Friday, September 1st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target 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.

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

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