State of New Jersey Common Pension Fund D Boosts Stake in Southern Company (The) $SO

State of New Jersey Common Pension Fund D raised its stake in shares of Southern Company (The) (NYSE:SO) by 2.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 382,239 shares of the utilities provider’s stock after buying an additional 9,417 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Southern were worth $36,225,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Hardy Reed LLC boosted its stake in shares of Southern by 12.1% during the third quarter. Hardy Reed LLC now owns 2,556 shares of the utilities provider’s stock valued at $242,000 after acquiring an additional 276 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Southern by 1.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 530,629 shares of the utilities provider’s stock valued at $50,288,000 after purchasing an additional 8,597 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Southern by 1.0% in the 3rd quarter. HighTower Advisors LLC now owns 1,535,754 shares of the utilities provider’s stock valued at $145,543,000 after purchasing an additional 14,466 shares in the last quarter. Uniting Wealth Partners LLC boosted its stake in shares of Southern by 15.2% during the 3rd quarter. Uniting Wealth Partners LLC now owns 4,129 shares of the utilities provider’s stock worth $391,000 after purchasing an additional 546 shares during the last quarter. Finally, NorthStar Asset Management LLC NJ boosted its stake in shares of Southern by 28.7% during the 3rd quarter. NorthStar Asset Management LLC NJ now owns 3,615 shares of the utilities provider’s stock worth $343,000 after purchasing an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Price Performance

Shares of Southern stock opened at $94.93 on Monday. Southern Company has a twelve month low of $83.09 and a twelve month high of $100.83. The stock has a market capitalization of $104.53 billion, a P/E ratio of 23.50, a PEG ratio of 2.87 and a beta of 0.45. The company has a current ratio of 0.75, a quick ratio of 0.59 and a debt-to-equity ratio of 1.69. The business’s fifty day moving average price is $87.90 and its 200 day moving average price is $91.33.

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, February 17th. Southern’s payout ratio is currently 73.27%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. BTIG Research initiated coverage on shares of Southern in a research note on Tuesday, October 21st. They set a “neutral” rating on the stock. The Goldman Sachs Group downgraded Southern from a “buy” rating to a “neutral” rating and set a $98.00 price target for the company. in a report on Thursday, November 6th. Barclays decreased their price objective on Southern from $91.00 to $88.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern in a research note on Wednesday, January 21st. Finally, UBS Group decreased their price target on Southern from $98.00 to $94.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $94.91.

Southern Company Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.