Blue Chip Partners Inc. lifted its position in shares of Southern Company (The) (NYSE:SO) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,255 shares of the utilities provider’s stock after acquiring an additional 1,364 shares during the quarter. Blue Chip Partners Inc.’s holdings in Southern Company (The) were worth $2,263,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of SO. BlackRock Inc. lifted its stake in Southern Company (The) by 2,961.9% in the 1st 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 in the last quarter. Ameriprise Financial Inc. lifted its stake in Southern Company (The) by 205.4% in the 1st quarter. Ameriprise Financial Inc. now owns 8,803,018 shares of the utilities provider’s stock valued at $438,168,000 after buying an additional 5,920,212 shares in the last quarter. Vanguard Group Inc. lifted its stake in Southern Company (The) by 4.1% in the 1st 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 in the last quarter. Swiss National Bank lifted its stake in Southern Company (The) by 20.3% in the 1st quarter. Swiss National Bank now owns 4,978,424 shares of the utilities provider’s stock valued at $247,826,000 after buying an additional 841,100 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in Southern Company (The) in the 2nd quarter valued at about $35,701,000. 53.27% of the stock is currently owned by institutional investors and hedge funds.
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Southern Company (SO) opened at 50.24 on Wednesday. The stock has a market cap of $50.21 billion, a PE ratio of 82.63 and a beta of 0.13. The firm has a 50-day moving average of $49.16 and a 200 day moving average of $49.33. Southern Company has a 12 month low of $46.20 and a 12 month high of $52.23.
Southern Company (The) (NYSE:SO) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, topping the 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 during the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. Analysts anticipate that Southern Company will post $2.95 EPS for the current year.
In other news, EVP Christopher C. Womack sold 75,144 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 85,298 shares of the company’s stock, valued at $4,204,338.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.74% of the stock is owned by corporate insiders.
A number of research analysts recently weighed in on the stock. Credit Suisse Group raised shares of Southern Company (The) from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of Southern Company (The) from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Tuesday. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Southern Company (The) in a report on Wednesday, July 19th. Citigroup Inc. increased their price objective on shares of Southern Company (The) from $42.00 to $43.00 and gave the company a “sell” rating in a report on Wednesday, July 26th. Finally, BidaskClub downgraded shares of Southern Company (The) from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $49.44.
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.
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