Southern Company (The) (NYSE:SO) Shares Bought by Rench Wealth Management Inc.

Rench Wealth Management Inc. increased its position in Southern Company (The) (NYSE:SO) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,041 shares of the utilities provider’s stock after buying an additional 538 shares during the period. Rench Wealth Management Inc.’s holdings in Southern Company (The) were worth $2,093,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake 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 worth $570,670,000 after buying an additional 62,620 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Southern Company (The) by 205.4% in the first quarter. Ameriprise Financial Inc. now owns 8,803,018 shares of the utilities provider’s stock worth $438,168,000 after buying an additional 5,920,212 shares during the last quarter. Swiss National Bank increased its stake in Southern Company (The) by 20.3% in the first quarter. Swiss National Bank now owns 4,978,424 shares of the utilities provider’s stock worth $247,826,000 after buying an additional 841,100 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Southern Company (The) by 9.7% in the first quarter. UBS Asset Management Americas Inc. now owns 4,464,436 shares of the utilities provider’s stock worth $222,240,000 after buying an additional 395,211 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Southern Company (The) by 9.4% in the first quarter. Great West Life Assurance Co. Can now owns 2,212,635 shares of the utilities provider’s stock worth $110,131,000 after buying an additional 189,253 shares during the last quarter. 52.83% of the stock is owned by institutional investors.

Shares of Southern Company (SO) opened at 48.30 on Friday. Southern Company has a 52-week low of $46.20 and a 52-week high of $53.73. The company has a market capitalization of $48.27 billion, a P/E ratio of 79.44 and a beta of 0.12. The firm has a 50-day moving average of $47.97 and a 200 day moving average of $49.46.

Southern Company (The) (NYSE:SO) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period last year, the company earned $0.74 earnings per share. The firm’s revenue was up 21.7% compared to the same quarter last year. On average, analysts anticipate that Southern Company will post $2.95 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.80%. Southern Company (The)’s dividend payout ratio (DPR) is presently 346.27%.

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SO has been the topic of a number of research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Southern Company (The) in a report on Monday, May 15th. Barclays PLC reiterated a “buy” rating and issued a $55.00 target price on shares of Southern Company (The) in a report on Monday, May 15th. Deutsche Bank AG upgraded shares of Southern Company (The) from a “hold” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $52.00 in a report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “hold” rating and issued a $53.00 target price on shares of Southern Company (The) in a report on Monday, July 31st. Finally, BidaskClub upgraded shares of Southern Company (The) from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $48.79.

In other news, EVP Christopher C. Womack sold 75,144 shares of Southern Company (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 sale, the executive vice president now directly owns 85,298 shares in the company, valued at $4,204,338.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Lantrip sold 25,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $51.50, for a total transaction of $1,287,500.00. Following the transaction, the chief executive officer now owns 31,080 shares in the company, valued at $1,600,620. The disclosure for this sale can be found here. Insiders sold 152,084 shares of company stock worth $7,665,158 over the last quarter. 1.00% of the stock is owned by corporate insiders.

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.

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

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