Southern Co. (SO) Stake Maintained by Bridgeway Capital Management Inc.
Bridgeway Capital Management Inc. maintained its position in Southern Co. (NYSE:SO) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 560,250 shares of the company’s stock at the end of the second quarter. Bridgeway Capital Management Inc. owned about 0.06% of Southern worth $30,046,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Loomis Sayles & Co. L P increased its position in Southern by 447.9% in the second quarter. Loomis Sayles & Co. L P now owns 2,471 shares of the company’s stock worth $133,000 after buying an additional 2,020 shares during the last quarter. Zions Bancorporation increased its position in Southern by 1.3% in the first quarter. Zions Bancorporation now owns 2,559 shares of the company’s stock worth $132,000 after buying an additional 32 shares during the last quarter. Barnett & Company Inc. acquired a new position in Southern during the first quarter worth approximately $155,000. First New York Securities LLC NY acquired a new position in Southern during the second quarter worth approximately $166,000. Finally, Jackson Grant Investment Advisers Inc. increased its position in Southern by 1.1% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,369 shares of the company’s stock worth $181,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 48.88% of the company’s stock.
Southern Co. (NYSE:SO) traded down 0.27% during mid-day trading on Friday, hitting $47.78. The stock had a trading volume of 6,956,267 shares. The company has a 50-day moving average of $50.61 and a 200-day moving average of $51.33. The stock has a market cap of $46.82 billion, a price-to-earnings ratio of 17.94 and a beta of 0.07. Southern Co. has a 12-month low of $43.72 and a 12-month high of $54.64.
Southern (NYSE:SO) last released its quarterly earnings results on Monday, October 31st. The company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.11. Southern had a return on equity of 12.69% and a net margin of 14.14%. The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $3.41 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. The company’s revenue was up 16.0% compared to the same quarter last year. On average, analysts anticipate that Southern Co. will post $2.90 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Monday, November 21st will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 4.69%. The ex-dividend date is Thursday, November 17th. Southern’s dividend payout ratio is currently 83.27%.
A number of research analysts recently issued reports on the company. Jefferies Group restated a “hold” rating on shares of Southern in a research note on Thursday, August 4th. SunTrust Banks Inc. raised their price target on Southern from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, September 26th. Finally, Zacks Investment Research downgraded Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, October 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.50.
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.
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