Barrett Asset Management LLC lowered its position in Southern Company (The) (NYSE:SO) by 28.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,505 shares of the utilities provider’s stock after selling 1,000 shares during the period. Barrett Asset Management LLC’s holdings in Southern were worth $123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC lifted its holdings in Southern by 12.4% in the first quarter. FMR LLC now owns 6,107,721 shares of the utilities provider’s stock valued at $304,042,000 after acquiring an additional 675,303 shares during the period. Homrich & Berg lifted its holdings in Southern by 7.0% in the first quarter. Homrich & Berg now owns 77,676 shares of the utilities provider’s stock valued at $3,867,000 after acquiring an additional 5,070 shares during the period. Teachers Advisors LLC lifted its holdings in Southern by 1.8% in the first quarter. Teachers Advisors LLC now owns 1,609,069 shares of the utilities provider’s stock valued at $80,099,000 after acquiring an additional 28,250 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in Southern by 2.7% in the first quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 90,145 shares of the utilities provider’s stock valued at $4,487,000 after acquiring an additional 2,345 shares during the period. Finally, Global Financial Private Capital LLC acquired a new position in Southern in the first quarter valued at approximately $23,597,000. Hedge funds and other institutional investors own 53.78% of the company’s stock.

Shares of Southern Company (SO) traded down $0.49 on Wednesday, hitting $51.19. The company had a trading volume of 4,031,800 shares, compared to its average volume of 4,683,985. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57. Southern Company has a 52-week low of $46.71 and a 52-week high of $53.51. The stock has a market capitalization of $51,867.50, a PE ratio of 18.79, a price-to-earnings-growth ratio of 3.89 and a beta of 0.13.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Southern had a return on equity of 10.81% and a net margin of 2.59%. The firm had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same period in the previous year, the business earned $1.27 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. sell-side analysts predict that Southern Company will post 2.95 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 6th. Investors of record on Monday, November 20th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 4.53%. The ex-dividend date was Friday, November 17th. Southern’s payout ratio is 414.29%.

A number of research analysts have issued reports on SO shares. BidaskClub raised Southern from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Zacks Investment Research raised Southern from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. KeyCorp reaffirmed a “hold” rating on shares of Southern in a research note on Friday, September 1st. Mizuho raised Southern from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, September 5th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $56.00 target price (up from $55.00) on shares of Southern in a research note on Tuesday, September 12th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. Southern has a consensus rating of “Hold” and a consensus target price of $49.92.

In related news, CEO William P. Bowers sold 85,151 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total transaction of $4,257,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ann P. Daiss sold 5,000 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $52.28, for a total value of $261,400.00. Following the completion of the sale, the insider now owns 7,394 shares of the company’s stock, valued at $386,558.32. The disclosure for this sale can be found here. Insiders have sold 213,813 shares of company stock valued at $11,029,988 over the last quarter. 0.74% of the stock is owned by company insiders.

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Southern Profile

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

Institutional Ownership by Quarter for Southern (NYSE:SO)

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