Nissay Asset Management Corp Japan Has $14.38 Million Position in Southern Company (The) $SO

Nissay Asset Management Corp Japan raised its stake in Southern Company (The) (NYSE:SO) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 150,242 shares of the utilities provider’s stock after buying an additional 9,107 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Southern were worth $14,380,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Southern in the fourth quarter worth $1,111,450,000. Legal & General Group Plc purchased a new stake in shares of Southern during the second quarter worth $737,256,000. Capital World Investors boosted its position in Southern by 22.6% during the fourth quarter. Capital World Investors now owns 41,142,076 shares of the utilities provider’s stock valued at $3,587,589,000 after purchasing an additional 7,593,224 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Southern by 18.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,459,462 shares of the utilities provider’s stock valued at $3,004,866,000 after purchasing an additional 5,436,212 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Southern in the second quarter valued at about $264,829,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Down 1.0%

Shares of Southern stock opened at $88.18 on Friday. The stock has a market capitalization of $101.44 billion, a P/E ratio of 21.15, a PEG ratio of 1.69 and a beta of 0.34. 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 50 day moving average price of $94.12 and a two-hundred day moving average price of $94.38. Southern Company has a 12-month low of $83.80 and a 12-month high of $100.83.

Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.12. Southern had a net margin of 15.43% and a return on equity of 12.93%. The company had revenue of $6.98 billion for the quarter, compared to analyst estimates of $7.23 billion. During the same quarter last year, the firm posted $0.79 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. Equities analysts expect that Southern Company will post 4.59 earnings per share for the current year.

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, August 17th. Southern’s dividend payout ratio (DPR) is 72.90%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Southern from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. boosted their price target on Southern from $101.00 to $104.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of Southern in a report on Wednesday, July 29th. BMO Capital Markets raised their price objective on shares of Southern from $102.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Finally, Morgan Stanley reduced their target price on shares of Southern from $92.00 to $89.00 and set an “underweight” rating for the company in a research note on Friday, August 21st. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $100.09.

About Southern

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.