Southern Co (SO) Shares Bought by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC boosted its position in shares of Southern Co (NYSE:SO) by 17.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,474 shares of the utilities provider’s stock after acquiring an additional 1,093 shares during the period. Moloney Securities Asset Management LLC’s holdings in Southern were worth $346,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Sciencast Management LP increased its position in Southern by 34.0% during the first quarter. Sciencast Management LP now owns 13,412 shares of the utilities provider’s stock worth $615,000 after buying an additional 3,400 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of Southern by 2,614.7% in the first quarter. Summit Trail Advisors LLC now owns 226,789 shares of the utilities provider’s stock worth $227,000 after acquiring an additional 218,435 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Southern by 5.4% in the second quarter. Nisa Investment Advisors LLC now owns 186,418 shares of the utilities provider’s stock worth $8,634,000 after acquiring an additional 9,525 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Southern by 18.2% in the fourth quarter. Macquarie Group Ltd. now owns 366,026 shares of the utilities provider’s stock worth $4,097,000 after acquiring an additional 56,426 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in Southern by 12.3% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 20,092 shares of the utilities provider’s stock valued at $930,000 after purchasing an additional 2,196 shares during the last quarter. 57.00% of the stock is owned by institutional investors.

SO stock traded down $0.68 during trading on Friday, reaching $46.13. 6,839,971 shares of the stock were exchanged, compared to its average volume of 4,581,545. Southern Co has a twelve month low of $42.38 and a twelve month high of $53.51. The company has a market cap of $47.47 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 3.53 and a beta of 0.04. The company has a quick ratio of 0.55, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

Southern (NYSE:SO) last released its earnings results on Wednesday, August 8th. The utilities provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. Southern had a return on equity of 13.06% and a net margin of 9.96%. The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the business earned $0.73 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. equities research analysts anticipate that Southern Co will post 2.97 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 6th. Stockholders of record on Monday, August 20th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date is Friday, August 17th. Southern’s dividend payout ratio (DPR) is currently 79.47%.

A number of research firms have issued reports on SO. ValuEngine downgraded Southern from a “hold” rating to a “sell” rating in a research report on Thursday. Credit Suisse Group cut Southern from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $46.00 to $43.00 in a research note on Thursday. Evercore ISI cut Southern from an “in-line” rating to an “underperform” rating in a research report on Thursday. Barclays cut Southern from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $51.00 to $48.00 in a research report on Thursday. Finally, Scotiabank reaffirmed a “hold” rating and set a $44.00 price target on shares of Southern in a research note on Thursday. Eight research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $47.97.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.

Further Reading: Short Selling

Institutional Ownership by Quarter for Southern (NYSE:SO)

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