Luminus Management LLC bought a new position in Southern Co (NYSE:SO) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,469,630 shares of the utilities provider’s stock, valued at approximately $70,674,000. Southern comprises 1.5% of Luminus Management LLC’s portfolio, making the stock its 17th largest holding. Luminus Management LLC owned about 0.15% of Southern at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of SO. Janus Henderson Group PLC raised its holdings in shares of Southern by 3,580.1% in the 2nd quarter. Janus Henderson Group PLC now owns 4,673,498 shares of the utilities provider’s stock worth $223,766,000 after acquiring an additional 4,546,503 shares during the last quarter. Commonwealth Bank of Australia grew its position in Southern by 1,565.3% in the 3rd quarter. Commonwealth Bank of Australia now owns 1,738,380 shares of the utilities provider’s stock worth $59,048,000 after purchasing an additional 1,633,990 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in Southern in the 4th quarter worth about $45,617,000. BlackRock Inc. grew its position in Southern by 1.3% in the 4th quarter. BlackRock Inc. now owns 62,955,468 shares of the utilities provider’s stock worth $3,027,527,000 after purchasing an additional 821,503 shares in the last quarter. Finally, Quantitative Investment Management LLC bought a new stake in Southern in the 4th quarter worth about $26,079,000. Institutional investors own 56.44% of the company’s stock.
A number of equities research analysts have issued reports on SO shares. Zacks Investment Research downgraded shares of Southern from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. Goldman Sachs Group reaffirmed a “sell” rating on shares of Southern in a research report on Wednesday, January 10th. Mizuho reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Southern in a research report on Tuesday, December 26th. JPMorgan Chase & Co. started coverage on shares of Southern in a research report on Friday, January 12th. They issued an “underweight” rating and a $46.00 price objective for the company. Finally, Guggenheim reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Southern in a research report on Wednesday, January 3rd. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $49.41.
Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.05. The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Southern had a net margin of 3.82% and a return on equity of 11.96%. Southern’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. research analysts predict that Southern Co will post 2.9 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend was Friday, February 16th. Southern’s payout ratio is currently 272.94%.
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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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