Balyasny Asset Management L.P. Increases Position in The Southern Company (NYSE:SO)

Balyasny Asset Management L.P. raised its position in The Southern Company (NYSE:SOFree Report) by 22.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,194,366 shares of the utilities provider’s stock after purchasing an additional 221,452 shares during the quarter. Balyasny Asset Management L.P. owned 0.11% of Southern worth $83,749,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SO. Norges Bank purchased a new stake in shares of Southern during the fourth quarter worth $631,068,000. Capital International Investors increased its position in shares of Southern by 53.2% during the fourth quarter. Capital International Investors now owns 16,444,163 shares of the utilities provider’s stock worth $1,153,065,000 after acquiring an additional 5,707,845 shares during the period. Ameriprise Financial Inc. increased its position in shares of Southern by 38.5% during the third quarter. Ameriprise Financial Inc. now owns 7,547,188 shares of the utilities provider’s stock worth $488,461,000 after acquiring an additional 2,096,988 shares during the period. FMR LLC increased its position in shares of Southern by 5.0% during the third quarter. FMR LLC now owns 38,906,760 shares of the utilities provider’s stock worth $2,518,045,000 after acquiring an additional 1,838,857 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Southern by 6,303.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,199,544 shares of the utilities provider’s stock worth $84,112,000 after acquiring an additional 1,180,812 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Stock Performance

Shares of SO stock opened at $78.97 on Tuesday. The Southern Company has a 12 month low of $61.56 and a 12 month high of $80.84. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.92 and a quick ratio of 0.65. The firm has a market capitalization of $86.35 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.80 and a beta of 0.51. The company’s fifty day moving average price is $75.25 and its two-hundred day moving average price is $71.56.

Southern (NYSE:SOGet Free Report) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.59 billion. Southern had a net margin of 16.74% and a return on equity of 12.07%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 EPS. On average, research analysts anticipate that The Southern Company will post 4 earnings per share for the current fiscal year.

Southern Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Monday, May 20th were paid a dividend of $0.72 per share. This is a positive change from Southern’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, May 17th. This represents a $2.88 annualized dividend and a yield of 3.65%. Southern’s dividend payout ratio is 74.42%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SO. Argus raised their price target on Southern from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. UBS Group cut Southern from a “buy” rating to a “neutral” rating and cut their price target for the company from $78.00 to $76.00 in a research note on Thursday, April 4th. Wells Fargo & Company raised their price target on Southern from $72.00 to $77.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Scotiabank dropped their price objective on Southern from $80.00 to $77.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. Finally, Mizuho raised their price objective on Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.36.

Check Out Our Latest Stock Report on Southern

Insider Buying and Selling

In other Southern news, CEO Kimberly S. Greene sold 9,126 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total value of $684,815.04. Following the completion of the transaction, the chief executive officer now owns 121,504 shares in the company, valued at approximately $9,117,660.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

About Southern

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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