Teachers Retirement System of The State of Kentucky Decreases Holdings in The Southern Company (NYSE:SO)

Teachers Retirement System of The State of Kentucky lowered its position in The Southern Company (NYSE:SOGet Rating) by 4.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 74,790 shares of the utilities provider’s stock after selling 3,255 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Southern were worth $5,423,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ipswich Investment Management Co. Inc. increased its holdings in Southern by 1.9% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 17,739 shares of the utilities provider’s stock worth $1,286,000 after acquiring an additional 330 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in Southern by 4.0% in the 1st quarter. Wetherby Asset Management Inc. now owns 17,763 shares of the utilities provider’s stock worth $1,288,000 after purchasing an additional 679 shares during the period. Cozad Asset Management Inc. boosted its stake in Southern by 44.0% in the 1st quarter. Cozad Asset Management Inc. now owns 5,951 shares of the utilities provider’s stock worth $431,000 after purchasing an additional 1,819 shares during the period. Equitable Trust Co. boosted its stake in Southern by 31.0% in the 1st quarter. Equitable Trust Co. now owns 6,638 shares of the utilities provider’s stock worth $482,000 after purchasing an additional 1,569 shares during the period. Finally, Comprehensive Financial Consultants Institutional Inc. bought a new position in Southern in the 4th quarter worth about $161,000. Hedge funds and other institutional investors own 62.20% of the company’s stock.

Southern Stock Performance

Shares of NYSE SO opened at $77.25 on Friday. The stock has a market cap of $82.12 billion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 5.32 and a beta of 0.50. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 1.55. The Southern Company has a 1-year low of $60.99 and a 1-year high of $80.57. The stock’s 50-day moving average is $76.61 and its 200 day moving average is $73.73.

Southern (NYSE:SOGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The utilities provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.23. The company had revenue of $7.21 billion for the quarter, compared to analysts’ expectations of $5.31 billion. Southern had a return on equity of 12.09% and a net margin of 12.13%. Southern’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period last year, the firm posted $0.84 EPS. On average, sell-side analysts anticipate that The Southern Company will post 3.63 EPS for the current fiscal year.

Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 15th were paid a $0.68 dividend. The ex-dividend date was Friday, August 12th. This represents a $2.72 dividend on an annualized basis and a yield of 3.52%. Southern’s dividend payout ratio (DPR) is currently 95.77%.

Insiders Place Their Bets

In other Southern news, CEO Stephen E. Kuczynski sold 14,500 shares of Southern stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $72.92, for a total value of $1,057,340.00. Following the transaction, the chief executive officer now directly owns 115,284 shares of the company’s stock, valued at approximately $8,406,509.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP James Y. Kerr II sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $76.00, for a total transaction of $1,900,000.00. Following the transaction, the executive vice president now directly owns 136,987 shares of the company’s stock, valued at $10,411,012. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen E. Kuczynski sold 14,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $72.92, for a total value of $1,057,340.00. Following the transaction, the chief executive officer now directly owns 115,284 shares in the company, valued at $8,406,509.28. The disclosure for this sale can be found here. Insiders have sold 54,000 shares of company stock valued at $4,109,655 in the last ninety days. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on SO shares. BMO Capital Markets cut their target price on Southern from $81.00 to $70.00 and set a “market perform” rating for the company in a research note on Wednesday, June 22nd. Barclays cut their target price on Southern from $82.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. The Goldman Sachs Group raised their target price on Southern from $53.00 to $61.00 and gave the stock a “sell” rating in a research note on Monday, August 22nd. Morgan Stanley lifted their price target on Southern from $63.00 to $69.00 and gave the company an “underweight” rating in a research report on Tuesday, August 23rd. Finally, Argus lifted their price target on Southern from $83.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Southern presently has a consensus rating of “Hold” and an average price target of $75.67.

Southern Company Profile

(Get Rating)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. 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, wholesale gas services, and gas pipeline investments operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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