Los Angeles Capital Management LLC Has $3.85 Million Stock Position in Southern Company (The) $SO

Los Angeles Capital Management LLC reduced its position in shares of Southern Company (The) (NYSE:SO) by 39.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,880 shares of the utilities provider’s stock after selling 26,764 shares during the period. Los Angeles Capital Management LLC’s holdings in Southern were worth $3,846,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. raised its stake in shares of Southern by 275.0% in the second quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 220 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in Southern during the 1st quarter valued at $28,000. Advantage Trust Co raised its position in 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 purchasing an additional 300 shares during the last quarter. Financial Connections Group Inc. acquired a new position in Southern in the first quarter worth $33,000. Finally, Accredited Wealth Management LLC bought a new stake in shares of Southern during the first quarter worth $36,000. 64.10% of the stock is owned by institutional investors.

Southern Trading Down 0.7%

Shares of NYSE SO opened at $90.78 on Tuesday. Southern Company has a fifty-two week low of $80.46 and a fifty-two week high of $100.83. The firm has a market capitalization of $99.96 billion, a P/E ratio of 23.34, a P/E/G ratio of 3.31 and a beta of 0.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.74 and a quick ratio of 0.54. The company’s 50 day simple moving average is $94.16 and its 200 day simple moving average is $92.51.

Southern (NYSE:SO) last issued its earnings results on Wednesday, October 29th. The utilities provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.51 by $0.09. The company had revenue of $7.82 billion during the quarter, compared to analysts’ expectations of $8.04 billion. Southern had a net margin of 15.10% and a return on equity of 12.09%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 EPS. On average, analysts predict that Southern Company will post 4.29 EPS for the current year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.74 per share. The ex-dividend date is Monday, November 17th. This represents a $2.96 dividend on an annualized basis and a yield of 3.3%. Southern’s dividend payout ratio (DPR) is 73.27%.

Wall Street Analyst Weigh In

SO has been the subject of a number of research analyst reports. Wall Street Zen cut Southern from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of Southern from $97.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. Cowen assumed coverage on shares of Southern in a research note on Wednesday, October 15th. They set a “buy” rating on the stock. Evercore ISI began coverage on shares of Southern in a report on Monday, October 6th. They issued an “in-line” rating and a $103.00 price target for the company. Finally, Mizuho upped their price objective on Southern from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Southern has a consensus rating of “Hold” and an average target price of $99.56.

About Southern

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.