Oregon Public Employees Retirement Fund decreased its stake in shares of Southern Co. (NYSE:SO) by 0.1% during the third quarter, Holdings Channel reports. The fund owned 233,499 shares of the company’s stock after selling 238 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Southern were worth $11,978,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. British Columbia Investment Management Corp boosted its position in shares of Southern by 40.3% in the second quarter. British Columbia Investment Management Corp now owns 502,989 shares of the company’s stock valued at $26,975,000 after buying an additional 144,444 shares in the last quarter. NEXT Financial Group Inc boosted its position in shares of Southern by 10.2% in the second quarter. NEXT Financial Group Inc now owns 21,053 shares of the company’s stock valued at $1,129,000 after buying an additional 1,951 shares in the last quarter. CenturyLink Investment Management Co acquired a new position in shares of Southern during the second quarter valued at about $2,110,000. Raymond James Trust N.A. boosted its position in shares of Southern by 6.7% in the second quarter. Raymond James Trust N.A. now owns 111,240 shares of the company’s stock valued at $5,966,000 after buying an additional 7,011 shares in the last quarter. Finally, Baxter Bros Inc. acquired a new position in shares of Southern during the second quarter valued at about $518,000. 50.21% of the stock is currently owned by hedge funds and other institutional investors.
Southern Co. (NYSE:SO) traded up 1.16% during mid-day trading on Friday, hitting $47.78. 2,486,224 shares of the company traded hands. The company’s 50-day moving average price is $49.60 and its 200 day moving average price is $51.19. The company has a market capitalization of $46.82 billion, a price-to-earnings ratio of 17.94 and a beta of 0.07. Southern Co. has a one year low of $43.72 and a one year high of $54.64.
Southern (NYSE:SO) last announced its quarterly earnings data on Monday, October 31st. The company reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.11. The firm earned $6.26 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Southern had a return on equity of 12.69% and a net margin of 14.14%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.17 EPS. On average, analysts anticipate that Southern Co. will post $2.90 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Monday, November 21st will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $2.24 annualized dividend and a yield of 4.69%. Southern’s dividend payout ratio is currently 83.27%.
Several equities analysts have recently issued reports on SO shares. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Tuesday, September 27th. Jefferies Group reaffirmed a “hold” rating on shares of Southern in a research note on Thursday, August 4th. Finally, SunTrust Banks Inc. lifted their price objective on shares of Southern from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, September 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $53.50.
Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.