Teacher Retirement System of Texas lowered its holdings in Southern Co (NYSE:SO) by 8.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 204,475 shares of the utilities provider’s stock after selling 17,742 shares during the quarter. Teacher Retirement System of Texas’ holdings in Southern were worth $9,469,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in SO. Franklin Resources Inc. lifted its holdings in Southern by 82.2% in the first quarter. Franklin Resources Inc. now owns 38,962,463 shares of the utilities provider’s stock valued at $1,740,063,000 after acquiring an additional 17,572,472 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Southern by 55.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,790,707 shares of the utilities provider’s stock valued at $660,554,000 after acquiring an additional 5,270,905 shares during the period. Federated Investors Inc. PA lifted its holdings in Southern by 22.6% in the first quarter. Federated Investors Inc. PA now owns 9,318,556 shares of the utilities provider’s stock valued at $416,167,000 after acquiring an additional 1,717,553 shares during the period. Natixis lifted its holdings in Southern by 513.3% in the first quarter. Natixis now owns 807,328 shares of the utilities provider’s stock valued at $36,055,000 after acquiring an additional 675,685 shares during the period. Finally, Integrated Investment Consultants LLC lifted its holdings in Southern by 11,861.3% in the second quarter. Integrated Investment Consultants LLC now owns 543,759 shares of the utilities provider’s stock valued at $750,000 after acquiring an additional 539,213 shares during the period. 57.07% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on SO. Zacks Investment Research upgraded Southern from a “sell” rating to a “hold” rating in a research report on Tuesday, April 24th. Credit Suisse Group raised their price target on Southern to $45.00 and gave the company a “neutral” rating in a research report on Monday, May 7th. Morgan Stanley dropped their price target on Southern from $44.00 to $42.00 and set an “underweight” rating for the company in a research report on Wednesday, June 13th. ValuEngine cut Southern from a “hold” rating to a “sell” rating in a research report on Tuesday, May 8th. Finally, Citigroup upgraded Southern from a “sell” rating to a “neutral” rating and set a $44.00 price target for the company in a research report on Friday, June 22nd. Eight equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.97.
In related news, EVP Christopher C. Womack sold 16,371 shares of Southern stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $47.40, for a total transaction of $775,985.40. Following the completion of the sale, the executive vice president now owns 10,165 shares in the company, valued at approximately $481,821. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.73% of the company’s stock.
Shares of SO stock opened at $46.97 on Friday. Southern Co has a fifty-two week low of $42.38 and a fifty-two week high of $53.51. The firm has a market capitalization of $46.78 billion, a PE ratio of 15.55, a PEG ratio of 3.46 and a beta of 0.04. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.68.
Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, August 8th. The utilities provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. The firm had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Southern had a return on equity of 13.06% and a net margin of 9.96%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. sell-side analysts anticipate that Southern Co will post 2.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 6th. Investors of record on Monday, August 20th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date is Friday, August 17th. Southern’s dividend payout ratio is presently 79.47%.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.
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