Southern Company (The) (SO) Position Maintained by Founders Capital Management

Founders Capital Management continued to hold its stake in shares of Southern Company (The) (NYSE:SO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,886 shares of the utilities provider’s stock at the end of the second quarter. Founders Capital Management’s holdings in Southern Company (The) were worth $138,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SO. Vanguard Group Inc. raised its stake 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 buying an additional 2,688,854 shares during the period. BlackRock Inc. raised its stake 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 buying an additional 60,040,696 shares during the period. State Street Corp raised its stake 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 buying an additional 515,397 shares during the period. 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 valued at $570,670,000 after buying an additional 62,620 shares during the period. Finally, Geode Capital Management LLC raised its stake 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 buying an additional 724,650 shares during the period. 52.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Southern Company (NYSE:SO) opened at 48.30 on Friday. The firm has a market cap of $48.27 billion, a P/E ratio of 79.44 and a beta of 0.12. The stock has a 50 day moving average price of $47.97 and a 200 day moving average price of $49.46. Southern Company has a 12-month low of $46.20 and a 12-month high of $53.73.

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

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

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SO has been the topic of several analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $55.00 price target (down previously from $56.00) on shares of Southern Company (The) in a report on Thursday, May 4th. BidaskClub raised shares of Southern Company (The) from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Barclays PLC reissued an “overweight” rating and issued a $56.00 price target (up previously from $53.00) on shares of Southern Company (The) in a report on Sunday, April 23rd. Royal Bank Of Canada lowered their target price on shares of Southern Company (The) from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Wednesday, June 28th. Finally, Macquarie raised shares of Southern Company (The) from a “neutral” rating to an “outperform” rating and set a $52.00 target price on the stock in a report on Monday, July 10th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $48.79.

In other news, EVP Christopher C. Womack sold 75,144 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 85,298 shares in the company, valued at approximately $4,204,338.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Lantrip sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $51.50, for a total value of $1,287,500.00. Following the completion of the transaction, the chief executive officer now owns 31,080 shares of the company’s stock, valued at approximately $1,600,620. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,084 shares of company stock valued at $7,665,158. Company insiders own 1.00% of the company’s stock.

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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