Southern Company (The) $SO Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB raised its position in shares of Southern Company (The) (NYSE:SO) by 12.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,764 shares of the utilities provider’s stock after purchasing an additional 8,415 shares during the quarter. Nordea Investment Management AB’s holdings in Southern were worth $6,947,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Ameriflex Group Inc. increased its holdings in Southern by 275.0% in the 2nd quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider’s stock worth $27,000 after buying an additional 220 shares during the period. Advantage Trust Co boosted its holdings in shares of Southern by 1,428.6% in the 2nd quarter. Advantage Trust Co now owns 321 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 300 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Southern in the third quarter worth $34,000. IMG Wealth Management Inc. purchased a new position in shares of Southern during the second quarter worth $38,000. Finally, Anfield Capital Management LLC raised its holdings in shares of Southern by 309.5% during the second quarter. Anfield Capital Management LLC now owns 430 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 325 shares during the last quarter. 64.10% of the stock is currently owned by hedge funds and other institutional investors.

Southern Trading Up 0.2%

Shares of SO stock opened at $89.00 on Friday. Southern Company has a 1-year low of $82.05 and a 1-year high of $100.83. The company has a market cap of $98.00 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 2.68 and a beta of 0.46. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.75 and a quick ratio of 0.59. The stock has a 50 day simple moving average of $87.88 and a 200-day simple moving average of $91.85.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $1.60 EPS for the quarter, topping the consensus estimate of $1.51 by $0.09. The company had revenue of $7.82 billion during the quarter, compared to analyst estimates of $8.04 billion. Southern had a net margin of 15.42% and a return on equity of 12.52%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 EPS. On average, equities research analysts expect that Southern Company will post 4.29 EPS for the current fiscal year.

Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, November 17th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, November 17th. Southern’s payout ratio is presently 73.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern in a report on Wednesday, October 8th. The Goldman Sachs Group downgraded Southern from a “buy” rating to a “neutral” rating and set a $98.00 target price on the stock. in a research note on Thursday, November 6th. Jefferies Financial Group reduced their price target on Southern from $104.00 to $93.00 and set a “neutral” rating for the company in a research report on Monday, December 15th. Mizuho decreased their price target on Southern from $97.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, December 11th. Finally, TD Cowen started coverage on shares of Southern in a research note on Thursday, October 16th. They set a “buy” rating and a $112.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $96.03.

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.