British Columbia Investment Management Corp cut its stake in shares of Southern Co. (NYSE:SO) by 13.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 435,181 shares of the company’s stock after selling 67,808 shares during the period. British Columbia Investment Management Corp’s holdings in Southern were worth $22,325,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the stock. Acropolis Investment Management LLC purchased a new position in shares of Southern during the third quarter valued at about $101,000. Krilogy Financial LLC raised its position in shares of Southern by 87.8% in the second quarter. Krilogy Financial LLC now owns 2,066 shares of the company’s stock valued at $111,000 after buying an additional 966 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of Southern by 447.9% in the second quarter. Loomis Sayles & Co. L P now owns 2,471 shares of the company’s stock valued at $133,000 after buying an additional 2,020 shares during the last quarter. Barnett & Company Inc. purchased a new position in shares of Southern during the first quarter valued at about $155,000. Finally, First New York Securities LLC NY purchased a new position in shares of Southern during the second quarter valued at about $166,000. 50.49% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Southern (NYSE:SO)

Shares of Southern Co. (NYSE:SO) traded up 0.94% during midday trading on Monday, reaching $48.23. 3,444,204 shares of the company were exchanged. The stock has a market capitalization of $47.27 billion, a price-to-earnings ratio of 18.11 and a beta of 0.07. The company’s 50-day moving average price is $49.60 and its 200 day moving average price is $51.19. Southern Co. has a 52-week low of $43.72 and a 52-week high of $54.64.

Southern (NYSE:SO) last released its earnings results on Monday, October 31st. The company reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.11. The company earned $6.26 billion during the quarter, compared to the consensus estimate of $3.41 billion. Southern had a net margin of 14.14% and a return on equity of 12.69%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 EPS. On average, equities analysts predict that Southern Co. will post $2.90 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Monday, November 21st will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend is Thursday, November 17th. Southern’s payout ratio is currently 83.27%.

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Several equities analysts have issued reports on the company. Jefferies Group reaffirmed a “hold” rating on shares of Southern in a report on Thursday, August 4th. SunTrust Banks Inc. dropped their price objective on Southern from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, September 12th. Finally, Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Tuesday, September 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $53.50.

Southern Company Profile

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.

5 Day Chart for NYSE:SO

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