Camden National Bank decreased its position in shares of Southern Company (The) (NYSE:SO) by 51.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,054 shares of the utilities provider’s stock after selling 79,774 shares during the period. Camden National Bank’s holdings in Southern Company (The) were worth $3,642,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SO. Vanguard Group Inc. increased its holdings in shares of Southern Company (The) by 4.1% in the first quarter. Vanguard Group Inc. now owns 68,758,138 shares of the utilities provider’s stock valued at $3,422,780,000 after purchasing an additional 2,688,854 shares during the period. BlackRock Inc. increased its holdings in shares of Southern Company (The) by 2,961.9% in the first quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock valued at $3,089,736,000 after purchasing an additional 60,040,696 shares during the period. State Street Corp increased its holdings in shares of Southern Company (The) by 1.1% in the first quarter. State Street Corp now owns 48,900,251 shares of the utilities provider’s stock valued at $2,434,244,000 after purchasing an additional 515,397 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Southern Company (The) by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 11,463,868 shares of the utilities provider’s stock valued at $570,670,000 after purchasing an additional 62,620 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Southern Company (The) by 8.2% in the first quarter. Geode Capital Management LLC now owns 9,573,271 shares of the utilities provider’s stock valued at $475,877,000 after purchasing an additional 724,650 shares during the period. 53.28% of the stock is currently owned by institutional investors.

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Southern Company (NYSE SO) opened at 49.10 on Thursday. The stock has a market capitalization of $49.07 billion, a P/E ratio of 80.76 and a beta of 0.13. Southern Company has a 52-week low of $46.20 and a 52-week high of $52.23. The company’s 50-day moving average price is $49.01 and its 200 day moving average price is $49.37.

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

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

In other news, EVP Christopher C. Womack sold 75,144 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total value of $3,703,847.76. Following the completion of the sale, the executive vice president now owns 85,298 shares of the company’s stock, valued at $4,204,338.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

A number of research analysts recently weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $56.00 price objective (up previously from $55.00) on shares of Southern Company (The) in a report on Tuesday, September 12th. Morgan Stanley dropped their price objective on Southern Company (The) from $53.00 to $51.00 and set an “underweight” rating on the stock in a report on Friday, June 23rd. Zacks Investment Research lowered Southern Company (The) from a “hold” rating to a “sell” rating in a report on Monday, September 11th. BidaskClub lowered Southern Company (The) from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Finally, Credit Suisse Group raised Southern Company (The) from an “underperform” rating to a “neutral” rating in a report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $48.90.

About Southern Company (The)

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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