Sumitomo Mitsui Trust Group Inc. Boosts Stake in Southern Company (The) $SO

Sumitomo Mitsui Trust Group Inc. lifted its position in Southern Company (The) (NYSE:SO) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,705,911 shares of the utilities provider’s stock after acquiring an additional 54,820 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Southern were worth $256,439,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SO. Gladstone Institutional Advisory LLC grew its stake in Southern by 0.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 21,461 shares of the utilities provider’s stock worth $2,034,000 after purchasing an additional 105 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Southern by 0.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 15,230 shares of the utilities provider’s stock valued at $1,443,000 after buying an additional 105 shares in the last quarter. Avidian Wealth Enterprises LLC grew its position in shares of Southern by 2.3% in the 2nd quarter. Avidian Wealth Enterprises LLC now owns 4,697 shares of the utilities provider’s stock worth $431,000 after buying an additional 106 shares during the period. Highline Wealth Partners LLC increased its stake in shares of Southern by 0.7% in the 3rd quarter. Highline Wealth Partners LLC now owns 15,667 shares of the utilities provider’s stock worth $1,485,000 after acquiring an additional 106 shares in the last quarter. Finally, Sara Bay Financial lifted its position in Southern by 2.7% during the 3rd quarter. Sara Bay Financial now owns 4,133 shares of the utilities provider’s stock valued at $392,000 after acquiring an additional 108 shares during the period. 64.10% of the stock is currently owned by institutional investors.

Southern Price Performance

Shares of NYSE SO opened at $86.70 on Tuesday. The company has a 50 day moving average of $88.14 and a 200 day moving average of $91.95. The company has a quick ratio of 0.59, a current ratio of 0.75 and a debt-to-equity ratio of 1.69. Southern Company has a twelve month low of $80.50 and a twelve month high of $100.83. The firm has a market cap of $95.46 billion, a P/E ratio of 21.46, a PEG ratio of 2.62 and a beta of 0.46.

Southern (NYSE:SO) last posted its earnings results on Wednesday, October 29th. The utilities provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.09. The business had revenue of $7.82 billion during the quarter, compared to analyst estimates of $8.04 billion. Southern had a return on equity of 12.52% and a net margin of 15.42%.The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.39 EPS. As a group, research analysts expect that Southern Company will post 4.29 EPS for the current fiscal year.

Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 8th. Shareholders of record on Monday, November 17th were paid a dividend of $0.74 per share. The ex-dividend date was Monday, November 17th. This represents a $2.96 annualized dividend and a yield of 3.4%. Southern’s dividend payout ratio is currently 73.27%.

Wall Street Analyst Weigh In

SO has been the topic of a number of recent research reports. The Goldman Sachs Group cut shares of Southern from a “buy” rating to a “neutral” rating and set a $98.00 price objective on the stock. in a report on Thursday, November 6th. Evercore ISI started coverage on Southern in a research report on Monday, October 6th. They issued an “in-line” rating and a $103.00 price target on the stock. Cowen reaffirmed a “buy” rating on shares of Southern in a research report on Thursday, December 11th. KeyCorp lowered their price objective on Southern from $87.00 to $76.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Finally, Jefferies Financial Group cut their target price on Southern from $104.00 to $93.00 and set a “neutral” rating on the stock in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $96.21.

Southern Company Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.