Core Capital Management & Research inc. Invests $1.40 Million in Southern Company (The) $SO

Core Capital Management & Research inc. bought a new stake in Southern Company (The) (NYSE:SO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,718 shares of the utilities provider’s stock, valued at approximately $1,398,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Marble Wealth LLC bought a new position in shares of Southern in the 4th quarter valued at about $4,443,000. Mawer Investment Management Ltd. raised its stake in shares of Southern by 121.4% during the fourth quarter. Mawer Investment Management Ltd. now owns 1,767,773 shares of the utilities provider’s stock worth $154,150,000 after buying an additional 969,493 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its holdings in Southern by 29.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 50,628 shares of the utilities provider’s stock valued at $4,887,000 after buying an additional 11,448 shares during the period. MUFG Securities EMEA plc lifted its holdings in Southern by 114.2% in the fourth quarter. MUFG Securities EMEA plc now owns 45,112 shares of the utilities provider’s stock valued at $3,934,000 after buying an additional 24,056 shares during the period. Finally, Glenmede Trust Co. NA boosted its stake in Southern by 19.1% in the first quarter. Glenmede Trust Co. NA now owns 92,289 shares of the utilities provider’s stock valued at $8,908,000 after acquiring an additional 14,798 shares during the last quarter. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Stock Performance

Shares of Southern stock opened at $88.37 on Thursday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.79 and a quick ratio of 0.59. The firm has a market cap of $101.66 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 2.37 and a beta of 0.33. The stock’s 50-day moving average is $92.95 and its 200-day moving average is $94.16. Southern Company has a one year low of $83.80 and a one year high of $100.83.

Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.12. Southern had a return on equity of 12.93% and a net margin of 15.43%.The business had revenue of $6.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. During the same period last year, the company earned $0.79 earnings per share. Southern’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts predict that Southern Company will post 4.59 earnings per share for the current fiscal year.

Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 17th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, August 17th. Southern’s dividend payout ratio (DPR) is currently 72.90%.

Analyst Upgrades and Downgrades

Several analysts have commented on SO shares. KeyCorp cut shares of Southern from a “sector weight” rating to an “underweight” rating and set a $79.00 target price for the company. in a research report on Thursday, July 23rd. Barclays reduced their price target on Southern from $99.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 18th. Morgan Stanley decreased their price objective on Southern from $92.00 to $89.00 and set an “underweight” rating for the company in a research note on Friday, August 21st. Jefferies Financial Group set a $99.00 price objective on Southern in a report on Monday, June 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Southern in a research note on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Southern has a consensus rating of “Hold” and a consensus target price of $100.09.

Southern Profile

Southern Company (NYSE:SO) is an energy holding company that provides electricity and natural gas services through a group of regulated utility subsidiaries. Its electric utilities generate, transmit and distribute power to residential, commercial and industrial customers, while its gas businesses distribute natural gas and provide related energy services.

The company’s principal electric subsidiaries include Alabama Power, Georgia Power and Mississippi Power. Southern Company also operates Southern Nuclear, which manages the company’s nuclear generation interests, including the Vogtle nuclear expansion in Georgia.