Palladium Partners LLC lessened its position in Southern Company (The) (NYSE:SO) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,580 shares of the utilities provider’s stock after selling 300 shares during the quarter. Palladium Partners LLC’s holdings in Southern Company (The) were worth $794,000 as of its most recent filing with the SEC.

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

COPYRIGHT VIOLATION WARNING: This article was originally reported by Daily Political and is the sole property of of Daily Political. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://www.dailypolitical.com/2017/09/26/palladium-partners-llc-sells-300-shares-of-southern-company-the-so.html.

In other news, EVP Christopher C. Womack sold 75,144 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 85,298 shares of the company’s stock, valued at $4,204,338.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.74% of the company’s stock.

Southern Company (SO) opened at 49.03 on Tuesday. Southern Company has a 52 week low of $46.20 and a 52 week high of $53.73. The stock’s 50 day moving average price is $48.99 and its 200 day moving average price is $49.45. The company has a market capitalization of $49.00 billion, a P/E ratio of 80.64 and a beta of 0.13.

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 the consensus estimate of $0.71 by $0.02. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates 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 period in the prior year, the company posted $0.74 earnings per share. Analysts anticipate that Southern Company will post $2.94 earnings per share for the current year.

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

A number of research analysts have weighed in on SO shares. Zacks Investment Research downgraded Southern Company (The) from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Jefferies Group LLC restated a “buy” rating and issued a $56.00 price target (up from $55.00) on shares of Southern Company (The) in a research note on Tuesday, September 12th. Morgan Stanley decreased their price target on Southern Company (The) from $53.00 to $51.00 and set an “underweight” rating for the company in a research note on Friday, June 23rd. BidaskClub downgraded Southern Company (The) from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Finally, Credit Suisse Group upgraded Southern Company (The) from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $49.63.

Southern Company (The) 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.

Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Company (The) (NYSE:SO).

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

Receive News & Ratings for Southern Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.