Fifth Third Bancorp Buys 225,327 Shares of Southern Company (The) $SO

Fifth Third Bancorp raised its stake in Southern Company (The) (NYSE:SO) by 211.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 331,950 shares of the utilities provider’s stock after buying an additional 225,327 shares during the period. Fifth Third Bancorp’s holdings in Southern were worth $32,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in SO. Vanguard Group Inc. raised its stake in shares of 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 boosted its holdings in shares of Southern by 22.6% in the fourth quarter. Capital World Investors now owns 41,142,076 shares of the utilities provider’s stock valued at $3,587,589,000 after purchasing an additional 7,593,224 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Southern by 18.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,459,462 shares of the utilities provider’s stock worth $3,004,866,000 after purchasing an additional 5,436,212 shares in the last quarter. Geode Capital Management LLC grew its stake in Southern by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 27,259,125 shares of the utilities provider’s stock worth $2,381,344,000 after purchasing an additional 384,860 shares in the last quarter. Finally, Norges Bank purchased a new position in Southern during the 4th quarter worth $1,111,450,000. 64.10% of the stock is currently owned by institutional investors.

Southern Trading Up 0.0%

Shares of NYSE:SO opened at $95.62 on Monday. The company has a market capitalization of $107.79 billion, a PE ratio of 24.33, a P/E/G ratio of 2.89 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 12-month low of $83.80 and a 12-month high of $100.83. The business’s fifty day simple moving average is $94.03 and its 200-day simple moving average is $93.14.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.11. Southern had a return on equity of 12.64% and a net margin of 14.46%.The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the prior year, the business posted $1.23 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts predict that Southern Company will post 4.57 earnings per share for the current fiscal year.

Southern Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, May 18th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, May 18th. This is a positive change from Southern’s previous quarterly dividend of $0.74. This represents a $3.04 annualized dividend and a dividend yield of 3.2%. Southern’s payout ratio is currently 77.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SO shares. Mizuho set a $105.00 target price on Southern in a research report on Friday, May 1st. Morgan Stanley reissued an “underweight” rating and set a $89.00 price target on shares of Southern in a research report on Wednesday, June 24th. Wall Street Zen upgraded Southern from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Raymond James Financial restated an “outperform” rating and issued a $104.00 price objective on shares of Southern in a report on Friday, May 1st. Finally, Seaport Research Partners lowered shares of Southern from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $99.26.

About Southern

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.