Flagship Harbor Advisors LLC grew its stake in Southern Co (NYSE:SO) by 82.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,923 shares of the utilities provider’s stock after acquiring an additional 6,309 shares during the period. Flagship Harbor Advisors LLC’s holdings in Southern were worth $644,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American International Group Inc. raised its stake in shares of Southern by 0.7% during the first quarter. American International Group Inc. now owns 324,866 shares of the utilities provider’s stock worth $14,509,000 after buying an additional 2,228 shares during the last quarter. Sawtooth Solutions LLC raised its stake in shares of Southern by 11.1% during the first quarter. Sawtooth Solutions LLC now owns 57,233 shares of the utilities provider’s stock worth $2,556,000 after buying an additional 5,724 shares during the last quarter. Aperio Group LLC raised its stake in shares of Southern by 6.7% during the first quarter. Aperio Group LLC now owns 521,946 shares of the utilities provider’s stock worth $23,310,000 after buying an additional 32,547 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of Southern by 5.1% during the first quarter. LS Investment Advisors LLC now owns 63,374 shares of the utilities provider’s stock worth $2,830,000 after buying an additional 3,063 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of Southern by 13.1% during the first quarter. Neuberger Berman Group LLC now owns 61,015 shares of the utilities provider’s stock worth $2,725,000 after buying an additional 7,049 shares during the last quarter. 57.34% of the stock is owned by institutional investors.

A number of research analysts recently issued reports on the stock. Credit Suisse Group cut shares of Southern from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $46.00 to $43.00 in a report on Thursday, August 9th. Guggenheim cut shares of Southern from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $50.00 to $47.00 in a report on Wednesday, August 8th. Scotiabank restated a “hold” rating and set a $44.00 price objective on shares of Southern in a report on Thursday, August 9th. Evercore ISI cut shares of Southern from an “in-line” rating to an “underperform” rating in a report on Thursday, August 9th. Finally, Bank of America decreased their price objective on shares of Southern from $47.00 to $46.00 and set an “underperform” rating for the company in a report on Wednesday, August 22nd. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Southern currently has a consensus rating of “Hold” and a consensus target price of $47.66.

In other news, EVP Christopher C. Womack sold 16,371 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $47.40, for a total value of $775,985.40. Following the completion of the transaction, the executive vice president now owns 10,165 shares in the company, valued at $481,821. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is owned by corporate insiders.

Shares of NYSE SO opened at $44.17 on Wednesday. The company has a market cap of $44.96 billion, a P/E ratio of 14.63, a PEG ratio of 3.31 and a beta of -0.05. Southern Co has a 52-week low of $42.38 and a 52-week high of $53.51. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, August 8th. The utilities provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.11. The company had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Southern had a net margin of 9.96% and a return on equity of 13.06%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.73 earnings per share. equities research analysts predict that Southern Co will post 2.97 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 6th. Stockholders of record on Monday, August 20th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.43%. The ex-dividend date of this dividend was Friday, August 17th. Southern’s dividend payout ratio (DPR) is presently 79.47%.

Southern Company Profile

The Southern Co is a holding company, which engages in the sale of electricity. It operates through the following segments: Traditional Electric Operating Companies, Southern Power, Southern Company Gas, and All Other. The Traditional Electric Operating Companies segment refers to vertically integrated utilities that own generation, transmission and distribution facilities, and supplies electric services in the states of Alabama, Georgia, Florida, and Mississippi.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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