Bridges Investment Counsel Inc. boosted its stake in Southern Company (The) (NYSE:SO) by 20.3% during the second quarter, Holdings Channel reports. The firm owned 12,875 shares of the utilities provider’s stock after buying an additional 2,175 shares during the period. Bridges Investment Counsel Inc.’s holdings in Southern Company (The) were worth $616,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SO. Peoples Financial Services CORP. increased its position in shares of Southern Company (The) by 6.6% in the first quarter. Peoples Financial Services CORP. now owns 27,279 shares of the utilities provider’s stock worth $1,358,000 after buying an additional 1,700 shares during the last quarter. Doyle Wealth Management bought a new position in shares of Southern Company (The) during the first quarter worth approximately $3,880,000. Cribstone Capital Management LLC increased its position in shares of Southern Company (The) by 59.1% in the first quarter. Cribstone Capital Management LLC now owns 5,019 shares of the utilities provider’s stock worth $249,000 after buying an additional 1,864 shares during the last quarter. Iowa State Bank increased its position in shares of Southern Company (The) by 1.7% in the first quarter. Iowa State Bank now owns 21,700 shares of the utilities provider’s stock worth $1,080,000 after buying an additional 355 shares during the last quarter. Finally, Fox Run Management L.L.C. increased its position in shares of Southern Company (The) by 15.2% in the first quarter. Fox Run Management L.L.C. now owns 6,453 shares of the utilities provider’s stock worth $321,000 after buying an additional 853 shares during the last quarter. 52.83% of the stock is currently owned by institutional investors and hedge funds.

Southern Company (NYSE:SO) traded up 0.0562% during mid-day trading on Wednesday, reaching $48.9875. 1,059,182 shares of the company’s stock were exchanged. The company has a market cap of $48.96 billion, a PE ratio of 80.5715 and a beta of 0.12. The stock has a 50-day moving average price of $48.02 and a 200 day moving average price of $49.48. Southern Company has a 52-week low of $46.20 and a 52-week high of $53.73.

Southern Company (The) (NYSE:SO) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The business’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. Equities analysts predict that Southern Company will post $2.95 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $2.32 annualized dividend and a dividend yield of 4.74%. Southern Company (The)’s dividend payout ratio is currently 346.27%.

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A number of research analysts recently commented on SO shares. Deutsche Bank AG raised shares of Southern Company (The) from a “hold” rating to a “buy” rating and boosted their price objective for the company from $50.00 to $52.00 in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $53.00 price objective on shares of Southern Company (The) in a research report on Monday, July 31st. Barclays PLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Southern Company (The) in a research report on Friday, May 5th. Finally, BidaskClub downgraded shares of Southern Company (The) from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $48.79.

In other news, CEO Mark Lantrip sold 25,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $51.50, for a total value of $1,287,500.00. Following the completion of the sale, the chief executive officer now owns 31,080 shares of the company’s stock, valued at approximately $1,600,620. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ann P. Daiss sold 5,000 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $51.28, for a total value of $256,400.00. Following the completion of the sale, the insider now directly owns 7,394 shares of the company’s stock, valued at approximately $379,164.32. The disclosure for this sale can be found here. Insiders have sold a total of 152,084 shares of company stock valued at $7,665,158 over the last ninety days. Company insiders own 0.74% of the company’s stock.

Southern Company (The) Company 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.

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Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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