Bank of New York Mellon Corp reduced its position in shares of Southern Company (The) (NYSE:SO) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,794,997 shares of the utilities provider’s stock after selling 668,871 shares during the period. Bank of New York Mellon Corp owned 1.09% of Southern Company (The) worth $516,865,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SO. Waldron LP bought a new position in shares of Southern Company (The) during the first quarter valued at about $216,000. Klingenstein Fields & Co. LLC raised its position in Southern Company (The) by 4.0% in the first quarter. Klingenstein Fields & Co. LLC now owns 9,278 shares of the utilities provider’s stock worth $462,000 after acquiring an additional 361 shares during the period. DT Investment Partners LLC raised its position in Southern Company (The) by 16.2% in the first quarter. DT Investment Partners LLC now owns 25,804 shares of the utilities provider’s stock worth $1,285,000 after acquiring an additional 3,588 shares during the period. Welch Group LLC raised its position in Southern Company (The) by 4.1% in the first quarter. Welch Group LLC now owns 308,301 shares of the utilities provider’s stock worth $15,347,000 after acquiring an additional 12,250 shares during the period. Finally, Eqis Capital Management Inc. raised its position in Southern Company (The) by 12.1% in the first quarter. Eqis Capital Management Inc. now owns 17,899 shares of the utilities provider’s stock worth $891,000 after acquiring an additional 1,931 shares during the period. 53.28% of the stock is currently owned by institutional investors.

Southern Company (NYSE SO) opened at 49.10 on Thursday. The stock has a market cap of $49.07 billion, a P/E ratio of 80.76 and a beta of 0.13. Southern Company has a 1-year low of $46.20 and a 1-year high of $52.23. The stock has a 50 day moving average of $49.01 and a 200 day moving average of $49.37.

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

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend was Thursday, August 17th. Southern Company (The)’s dividend payout ratio (DPR) is presently 346.27%.

Several analysts have commented on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Southern Company (The) in a research report on Monday, July 31st. J P Morgan Chase & Co assumed coverage on shares of Southern Company (The) in a research report on Tuesday, August 8th. They issued an “overweight” rating and a $16.78 price objective on the stock. BidaskClub raised shares of Southern Company (The) from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Credit Suisse Group raised shares of Southern Company (The) from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 3rd. Finally, Citigroup Inc. reaffirmed a “sell” rating and issued a $44.00 price objective (up previously from $43.00) on shares of Southern Company (The) in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. Southern Company (The) has a consensus rating of “Hold” and a consensus target price of $48.90.

In other news, EVP Christopher C. Womack sold 75,144 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $49.29, for a total value of $3,703,847.76. Following the transaction, the executive vice president now owns 85,298 shares in the company, valued at approximately $4,204,338.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.74% of the stock is owned by corporate insiders.

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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.

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

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