Jennison Associates LLC maintained its stake in Southern Company (The) (NYSE:SO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 969,243 shares of the utilities provider’s stock at the close of the second quarter. Jennison Associates LLC owned approximately 0.10% of Southern Company (The) worth $46,407,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Southern Company (The) by 4.1% during the first quarter. Vanguard Group Inc. now owns 68,758,138 shares of the utilities provider’s stock valued at $3,422,780,000 after buying an additional 2,688,854 shares during the last quarter. BlackRock Inc. raised its stake in Southern Company (The) by 2,961.9% during the first quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock valued at $3,089,736,000 after buying an additional 60,040,696 shares during the last quarter. State Street Corp raised its stake in Southern Company (The) by 1.1% during the first quarter. State Street Corp now owns 48,900,251 shares of the utilities provider’s stock valued at $2,434,244,000 after buying an additional 515,397 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Southern Company (The) by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 11,463,868 shares of the utilities provider’s stock valued at $570,670,000 after buying an additional 62,620 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Southern Company (The) by 8.2% during the first quarter. Geode Capital Management LLC now owns 9,573,271 shares of the utilities provider’s stock valued at $475,877,000 after buying an additional 724,650 shares during the last quarter. Institutional investors and hedge funds own 53.28% of the company’s stock.

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In related news, EVP Christopher C. Womack sold 75,144 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total value of $3,703,847.76. Following the completion of the transaction, the executive vice president now owns 85,298 shares in the company, valued at approximately $4,204,338.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Shares of Southern Company (SO) opened at 49.59 on Friday. The stock has a market cap of $49.56 billion, a PE ratio of 81.56 and a beta of 0.13. The company’s 50-day moving average price is $49.06 and its 200-day moving average price is $49.36. Southern Company has a 52-week low of $46.20 and a 52-week high of $52.23.

Southern Company (The) (NYSE:SO) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.23 billion. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. On average, equities research analysts forecast that Southern Company will post $2.95 earnings per share for the current fiscal year.

A number of research analysts have issued reports on the company. Citigroup Inc. reiterated a “sell” rating and set a $44.00 price objective (up previously from $43.00) on shares of Southern Company (The) in a research note on Tuesday. Royal Bank Of Canada upgraded Southern Company (The) from a “sector perform” rating to an “outperform” rating and set a $53.00 price objective for the company in a research note on Friday, September 29th. Guggenheim upgraded Southern Company (The) from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $56.00 in a research note on Thursday, September 14th. Jefferies Group LLC reiterated a “buy” rating and set a $56.00 price objective (up previously from $55.00) on shares of Southern Company (The) in a research note on Tuesday, September 12th. Finally, Zacks Investment Research cut Southern Company (The) from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $48.90.

About Southern Company (The)

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

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Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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