Alberta Investment Management Corp Has $5.66 Million Holdings in Southern Company (The) $SO

Alberta Investment Management Corp reduced its position in Southern Company (The) (NYSE:SO) by 69.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,600 shares of the utilities provider’s stock after selling 142,806 shares during the period. Alberta Investment Management Corp’s holdings in Southern were worth $5,657,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SO. Ameriflex Group Inc. boosted its stake in shares of Southern by 275.0% during the 2nd quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider’s stock valued at $27,000 after buying an additional 220 shares during the period. Cheviot Value Management LLC bought a new position in shares of Southern in the first quarter valued at approximately $28,000. Advantage Trust Co lifted its stake in shares of Southern by 1,428.6% in the second quarter. Advantage Trust Co now owns 321 shares of the utilities provider’s stock worth $29,000 after buying an additional 300 shares during the last quarter. Financial Connections Group Inc. bought a new stake in Southern during the first quarter valued at about $33,000. Finally, Accredited Wealth Management LLC acquired a new stake in Southern in the 1st quarter valued at approximately $36,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Stock Performance

Shares of SO opened at $90.65 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.69. The firm’s fifty day simple moving average is $94.11 and its two-hundred day simple moving average is $92.51. Southern Company has a 12 month low of $80.46 and a 12 month high of $100.83. The stock has a market capitalization of $99.81 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 3.31 and a beta of 0.45.

Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, October 29th. The utilities provider reported $1.60 EPS for the quarter, topping the consensus estimate of $1.51 by $0.09. Southern had a net margin of 15.10% and a return on equity of 12.09%. The company had revenue of $7.82 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter last year, the firm posted $1.39 EPS. The company’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, analysts predict that Southern Company will post 4.29 EPS for the current year.

Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 17th will be paid 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 payout ratio is 73.27%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SO shares. The Goldman Sachs Group lowered shares of Southern from a “buy” rating to a “neutral” rating and set a $98.00 price objective for the company. in a research report on Thursday, November 6th. TD Cowen assumed coverage on Southern in a research note on Thursday, October 16th. They issued a “buy” rating and a $112.00 price objective on the stock. UBS Group increased their target price on Southern from $100.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Evercore ISI began coverage on Southern in a research note on Monday, October 6th. They issued an “in-line” rating and a $103.00 price target on the stock. Finally, LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $102.50 price target (up from $99.50) on shares of Southern in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $99.56.

Southern Profile

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.