Sumitomo Mitsui DS Asset Management Company Ltd Purchases 9,605 Shares of Southern Company (The) $SO

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Southern Company (The) (NYSE:SO) by 5.5% during the third quarter, Holdings Channel reports. The institutional investor owned 184,055 shares of the utilities provider’s stock after purchasing an additional 9,605 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Southern were worth $15,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Jeppson Wealth Management LLC raised its position in shares of Southern by 5.3% in the third quarter. Jeppson Wealth Management LLC now owns 18,187 shares of the utilities provider’s stock valued at $1,508,000 after purchasing an additional 915 shares during the period. CFS Investment Advisory Services LLC boosted its holdings in Southern by 1.2% in the 3rd quarter. CFS Investment Advisory Services LLC now owns 13,293 shares of the utilities provider’s stock worth $1,136,000 after buying an additional 155 shares during the period. Secure Asset Management LLC boosted its holdings in Southern by 5.2% in the 3rd quarter. Secure Asset Management LLC now owns 3,009 shares of the utilities provider’s stock worth $249,000 after buying an additional 149 shares during the period. Maia Wealth LLC boosted its holdings in Southern by 15.4% in the 3rd quarter. Maia Wealth LLC now owns 18,566 shares of the utilities provider’s stock worth $1,539,000 after buying an additional 2,477 shares during the period. Finally, Greg Jennings LLC purchased a new position in Southern in the 3rd quarter valued at approximately $487,000. Institutional investors own 64.10% of the company’s stock.

Southern Price Performance

Southern stock opened at $90.72 on Wednesday. Southern Company has a 52 week low of $81.69 and a 52 week high of $99.58. The business has a 50-day simple moving average of $87.65 and a 200 day simple moving average of $92.05. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62. The stock has a market cap of $104.36 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 2.35 and a beta of 0.31.

Southern (NYSE:SO) last announced its earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share 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 for the quarter, compared to analyst estimates of $7.23 billion. During the same period in the prior year, the company earned $0.79 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. On average, research analysts forecast that Southern Company will post 4.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. KeyCorp lowered their target price on shares of Southern from $79.00 to $74.00 and set an “underweight” rating on the stock in a report on Tuesday, October 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern in a report on Wednesday, July 29th. JPMorgan Chase & Co. cut their price target on Southern from $101.00 to $94.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Morgan Stanley reduced their price target on Southern from $89.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, September 18th. Finally, Jefferies Financial Group decreased their price objective on Southern from $96.00 to $95.00 and set a “hold” rating on the stock in a research note on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $98.24.

About Southern

Southern Company (NYSE: SO) is an energy holding company headquartered in Atlanta, Georgia. Through its subsidiaries, the company generates, transmits, distributes and sells electricity, while also providing natural gas distribution and related energy services.

Southern’s electric utility operations include Alabama Power, Georgia Power and Mississippi Power, which serve customers across Alabama, Georgia and Mississippi. The company’s generation portfolio includes nuclear, natural gas, coal, hydroelectric and renewable energy resources.