Oregon Public Employees Retirement Fund Purchases 30,802 Shares of Southern Company (The) $SO

Oregon Public Employees Retirement Fund boosted its position in Southern Company (The) (NYSE:SO) by 32.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 125,772 shares of the utilities provider’s stock after acquiring an additional 30,802 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Southern were worth $11,919,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Gladstone Institutional Advisory LLC grew its stake in shares of Southern by 0.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 21,461 shares of the utilities provider’s stock worth $2,034,000 after purchasing an additional 105 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Southern by 0.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 15,230 shares of the utilities provider’s stock worth $1,443,000 after buying an additional 105 shares during the period. Avidian Wealth Enterprises LLC grew its position in shares of Southern by 2.3% in the 2nd quarter. Avidian Wealth Enterprises LLC now owns 4,697 shares of the utilities provider’s stock worth $431,000 after buying an additional 106 shares during the last quarter. Highline Wealth Partners LLC increased its stake in shares of Southern by 0.7% during the third quarter. Highline Wealth Partners LLC now owns 15,667 shares of the utilities provider’s stock valued at $1,485,000 after buying an additional 106 shares during the period. Finally, Sara Bay Financial increased its stake in shares of Southern by 2.7% during the third quarter. Sara Bay Financial now owns 4,133 shares of the utilities provider’s stock valued at $392,000 after buying an additional 108 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Trading Down 0.3%

Shares of NYSE SO opened at $87.00 on Friday. Southern Company has a 1 year low of $80.50 and a 1 year high of $100.83. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.75 and a quick ratio of 0.59. The firm has a 50-day moving average of $88.27 and a 200 day moving average of $91.95. The stock has a market cap of $95.80 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 2.63 and a beta of 0.46.

Southern (NYSE:SO) last announced its earnings results on Wednesday, October 29th. The utilities provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.09. Southern had a net margin of 15.42% and a return on equity of 12.52%. The business had revenue of $7.82 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter last year, the firm earned $1.39 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, sell-side analysts expect that Southern Company will post 4.29 EPS for the current fiscal year.

Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Shareholders of record on Monday, November 17th were paid a dividend of $0.74 per share. The ex-dividend date was Monday, November 17th. This represents a $2.96 dividend on an annualized basis and a yield of 3.4%. Southern’s payout ratio is presently 73.27%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $102.50 price target (up previously from $99.50) on shares of Southern in a report on Friday, October 17th. Morgan Stanley restated an “underperform” rating and issued a $97.00 price objective on shares of Southern in a report on Thursday, November 20th. BTIG Research began coverage on shares of Southern in a research note on Tuesday, October 21st. They set a “neutral” rating on the stock. Mizuho reduced their price target on shares of Southern from $97.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, December 11th. Finally, The Goldman Sachs Group lowered shares of Southern from a “buy” rating to a “neutral” rating and set a $98.00 price objective for the company. in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $96.21.

Southern Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.