Southern Company (The) $SO Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its position in shares of Southern Company (The) (NYSE:SO) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,810,199 shares of the utilities provider’s stock after selling 521,648 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Southern were worth $1,877,413,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Ameriflex Group Inc. grew its stake in shares of Southern by 275.0% during the second quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 220 shares in the last quarter. Advantage Trust Co lifted its holdings in Southern by 1,428.6% during the 2nd quarter. Advantage Trust Co now owns 321 shares of the utilities provider’s stock worth $29,000 after buying an additional 300 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new stake in Southern during the 3rd quarter worth about $34,000. IMG Wealth Management Inc. acquired a new position in shares of Southern during the 2nd quarter worth about $38,000. Finally, Anfield Capital Management LLC increased its holdings in shares of Southern by 309.5% in the 2nd quarter. Anfield Capital Management LLC now owns 430 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 325 shares during the last quarter. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Stock Up 0.2%

SO stock opened at $89.00 on Friday. The stock has a market capitalization of $98.00 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 2.68 and a beta of 0.46. The company has a fifty day moving average of $87.88 and a 200-day moving average of $91.85. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.59 and a current ratio of 0.75. Southern Company has a one year low of $82.05 and a one year high of $100.83.

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

Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, November 17th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $2.96 annualized dividend and a dividend yield of 3.3%. Southern’s payout ratio is 73.27%.

Analyst Ratings Changes

Several research firms recently weighed in on SO. Evercore ISI began coverage on Southern in a research note on Monday, October 6th. They set an “in-line” rating and a $103.00 target price for the company. Barclays cut their price target on shares of Southern from $91.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Thursday. Cowen reaffirmed a “buy” rating on shares of Southern in a research report on Thursday, December 11th. UBS Group decreased their price objective on Southern from $98.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Finally, Wells Fargo & Company initiated coverage on shares of Southern in a report on Monday, October 27th. They issued an “equal weight” rating and a $97.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Southern currently has a consensus rating of “Hold” and a consensus price target of $96.03.

Southern Company 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.