Strs Ohio Has $23.15 Million Stake in The Southern Company (NYSE:SO)

Strs Ohio decreased its position in shares of The Southern Company (NYSE:SO) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 330,174 shares of the utilities provider’s stock after selling 10,243 shares during the period. Strs Ohio’s holdings in Southern were worth $23,151,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SO. Insigneo Advisory Services LLC increased its stake in Southern by 3.1% in the third quarter. Insigneo Advisory Services LLC now owns 4,883 shares of the utilities provider’s stock valued at $316,000 after acquiring an additional 146 shares during the period. Good Life Advisors LLC increased its stake in Southern by 0.8% in the fourth quarter. Good Life Advisors LLC now owns 19,956 shares of the utilities provider’s stock valued at $1,399,000 after acquiring an additional 149 shares during the period. Insight Inv LLC increased its stake in Southern by 1.4% in the fourth quarter. Insight Inv LLC now owns 10,530 shares of the utilities provider’s stock valued at $738,000 after acquiring an additional 150 shares during the period. Patten & Patten Inc. TN increased its stake in Southern by 0.7% in the fourth quarter. Patten & Patten Inc. TN now owns 20,736 shares of the utilities provider’s stock valued at $1,454,000 after acquiring an additional 150 shares during the period. Finally, Willis Johnson & Associates Inc. increased its stake in Southern by 3.6% in the fourth quarter. Willis Johnson & Associates Inc. now owns 4,365 shares of the utilities provider’s stock valued at $306,000 after acquiring an additional 151 shares during the period. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Price Performance

Shares of SO opened at $68.39 on Tuesday. The Southern Company has a 1 year low of $61.56 and a 1 year high of $75.80. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.77 and a quick ratio of 0.56. The company has a market capitalization of $74.86 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 4.29 and a beta of 0.49. The business has a 50-day moving average of $68.78 and a 200-day moving average of $68.95.

Southern (NYSE:SO) last issued its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.90 billion. Southern had a return on equity of 11.40% and a net margin of 15.79%. The firm’s revenue was down 14.2% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. As a group, equities research analysts anticipate that The Southern Company will post 4 earnings per share for the current year.

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, February 16th. This represents a $2.80 annualized dividend and a dividend yield of 4.09%. Southern’s dividend payout ratio is 77.14%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of Southern from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday. UBS Group cut Southern from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $78.00 to $76.00 in a research note on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Southern in a report on Wednesday, February 21st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $76.00 price objective (up from $72.00) on shares of Southern in a report on Monday, April 1st. Finally, Wells Fargo & Company decreased their price objective on Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $74.07.

Insider Activity

In other news, insider David P. Poroch sold 10,099 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $69.96, for a total transaction of $706,526.04. Following the completion of the sale, the insider now owns 28,691 shares in the company, valued at $2,007,222.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Christopher Cummiskey sold 899 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total transaction of $60,286.94. Following the transaction, the executive vice president now owns 22,502 shares of the company’s stock, valued at approximately $1,508,984.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David P. Poroch sold 10,099 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $69.96, for a total value of $706,526.04. Following the sale, the insider now directly owns 28,691 shares in the company, valued at approximately $2,007,222.36. The disclosure for this sale can be found here. Insiders sold a total of 20,998 shares of company stock worth $1,446,113 over the last quarter. 0.37% of the stock is currently owned by corporate insiders.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.