Morgan Stanley Acquires 1,278,656 Shares of Southern Co (NYSE:SO)

Morgan Stanley raised its position in Southern Co (NYSE:SO) by 35.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,929,465 shares of the utilities provider’s stock after acquiring an additional 1,278,656 shares during the quarter. Morgan Stanley owned approximately 0.49% of Southern worth $228,284,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Well Done LLC purchased a new stake in shares of Southern during the 1st quarter worth approximately $100,000. Kaizen Advisory LLC lifted its position in shares of Southern by 133.8% during the 2nd quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock worth $106,000 after buying an additional 1,307 shares during the last quarter. Destination Wealth Management lifted its position in shares of Southern by 359.3% during the 2nd quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock worth $107,000 after buying an additional 1,811 shares during the last quarter. Horan Capital Advisors LLC. purchased a new stake in shares of Southern during the 2nd quarter worth approximately $121,000. Finally, BerganKDV Wealth Management LLC purchased a new stake in shares of Southern during the 2nd quarter worth approximately $130,000. Institutional investors own 57.35% of the company’s stock.

Shares of Southern stock opened at $43.92 on Tuesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.68 and a current ratio of 0.81. The firm has a market capitalization of $44.22 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 3.26 and a beta of -0.05. Southern Co has a 12 month low of $42.38 and a 12 month high of $53.51.

Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, August 8th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.11. The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Southern had a net margin of 9.96% and a return on equity of 13.06%. Southern’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 EPS. As a group, equities research analysts expect that Southern Co will post 2.97 EPS for the current fiscal year.

In other Southern news, EVP Christopher C. Womack sold 16,371 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $47.40, for a total value of $775,985.40. Following the transaction, the executive vice president now directly owns 10,165 shares of the company’s stock, valued at approximately $481,821. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Several analysts have recently weighed in on SO shares. Deutsche Bank downgraded shares of Southern from a “buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a research report on Tuesday, June 26th. Howard Weil began coverage on shares of Southern in a report on Tuesday, July 24th. They issued a “sector perform” rating and a $45.00 target price on the stock. Barclays cut shares of Southern from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $51.00 to $48.00 in a report on Thursday, August 9th. ValuEngine raised shares of Southern from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Finally, Citigroup raised shares of Southern from a “sell” rating to a “neutral” rating and set a $44.00 target price on the stock in a report on Friday, June 22nd. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $46.61.

About Southern

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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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