MUFG Securities EMEA plc Acquires 24,056 Shares of Southern Company (The) $SO

MUFG Securities EMEA plc boosted its holdings in shares of Southern Company (The) (NYSE:SO) by 114.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,112 shares of the utilities provider’s stock after acquiring an additional 24,056 shares during the quarter. MUFG Securities EMEA plc’s holdings in Southern were worth $3,934,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Southern by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 108,057,413 shares of the utilities provider’s stock valued at $9,422,606,000 after acquiring an additional 1,643,090 shares in the last quarter. Capital World Investors grew its holdings in Southern by 320.3% during the third quarter. Capital World Investors now owns 33,548,852 shares of the utilities provider’s stock valued at $3,179,425,000 after purchasing an additional 25,567,431 shares during the last quarter. Geode Capital Management LLC grew its holdings in Southern by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 27,259,125 shares of the utilities provider’s stock valued at $2,381,344,000 after purchasing an additional 384,860 shares during the last quarter. Norges Bank acquired a new position in Southern during the fourth quarter valued at approximately $1,111,450,000. Finally, Legal & General Group Plc grew its holdings in Southern by 3.5% during the third quarter. Legal & General Group Plc now owns 8,532,530 shares of the utilities provider’s stock valued at $808,628,000 after purchasing an additional 285,546 shares during the last quarter. Institutional investors own 64.10% of the company’s stock.

Wall Street Analyst Weigh In

SO has been the topic of several research analyst reports. TD Cowen raised their price objective on shares of Southern from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Evercore upgraded shares of Southern from an “in-line” rating to an “outperform” rating and set a $111.00 price objective on the stock in a research note on Thursday, March 5th. Truist Financial lowered their price objective on shares of Southern from $103.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday. Scotiabank lifted their price target on shares of Southern from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. Finally, Morgan Stanley reissued an “underweight” rating and set a $87.00 price objective on shares of Southern in a report on Thursday, May 21st. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $99.38.

Southern Stock Down 3.3%

Shares of NYSE SO opened at $89.04 on Tuesday. The firm has a market capitalization of $100.37 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.78 and a beta of 0.34. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68. Southern Company has a 1 year low of $83.80 and a 1 year high of $100.83. The firm’s 50-day moving average is $94.47 and its 200-day moving average is $91.83.

Southern (NYSE:SO) last issued its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.11. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. Equities analysts expect that Southern Company will post 4.58 EPS for the current year.

Southern Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Monday, May 18th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, May 18th. This is an increase from Southern’s previous quarterly dividend of $0.74. Southern’s dividend payout ratio is presently 77.35%.

Insider Activity

In related news, EVP Christopher Cummiskey sold 6,669 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $96.55, for a total value of $643,891.95. Following the completion of the transaction, the executive vice president directly owned 30,800 shares in the company, valued at approximately $2,973,740. The trade was a 17.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kimberly S. Greene sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $96.67, for a total value of $2,416,750.00. Following the completion of the transaction, the chief executive officer owned 103,602 shares of the company’s stock, valued at $10,015,205.34. This represents a 19.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by insiders.

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.