Eastern Bank Has $1.33 Million Stake in Southern Company (The) $SO

Eastern Bank boosted its stake in Southern Company (The) (NYSE:SO) by 84.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,009 shares of the utilities provider’s stock after acquiring an additional 6,420 shares during the quarter. Eastern Bank’s holdings in Southern were worth $1,328,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SO. Equitable Trust Co. boosted its holdings in shares of Southern by 24.7% in the 2nd quarter. Equitable Trust Co. now owns 34,527 shares of the utilities provider’s stock valued at $3,171,000 after purchasing an additional 6,843 shares in the last quarter. Matrix Trust Co acquired a new position in shares of Southern during the 3rd quarter worth $1,813,000. Alpha Cubed Investments LLC lifted its position in shares of Southern by 23.6% during the 2nd quarter. Alpha Cubed Investments LLC now owns 7,145 shares of the utilities provider’s stock worth $656,000 after buying an additional 1,366 shares during the last quarter. Shelton Capital Management boosted its stake in Southern by 700.6% in the second quarter. Shelton Capital Management now owns 161,618 shares of the utilities provider’s stock valued at $14,841,000 after buying an additional 141,430 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in Southern by 5.5% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 822,403 shares of the utilities provider’s stock valued at $75,521,000 after acquiring an additional 42,531 shares during the last quarter. Institutional investors own 64.10% of the company’s stock.

Southern Stock Up 0.9%

Shares of NYSE SO opened at $88.36 on Thursday. The company’s 50 day moving average price is $87.97 and its 200-day moving average price is $91.90. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.59 and a current ratio of 0.75. Southern Company has a 52-week low of $81.96 and a 52-week high of $100.83. The company has a market capitalization of $97.29 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 2.64 and a beta of 0.46.

Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, October 29th. The utilities provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.09. Southern had a return on equity of 12.52% and a net margin of 15.42%.The company had revenue of $7.82 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same period in the previous year, the business earned $1.39 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. Equities analysts forecast that Southern Company will post 4.29 earnings per share for the current year.

Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Shareholders of record on Monday, November 17th were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, November 17th. Southern’s dividend payout ratio (DPR) is 73.27%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SO. Barclays dropped their target price on shares of Southern from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Thursday, November 20th. LADENBURG THALM/SH SH reiterated a “neutral” rating and set a $102.50 price objective (up from $99.50) on shares of Southern in a research report on Friday, October 17th. BTIG Research initiated coverage on shares of Southern in a research report on Tuesday, October 21st. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. decreased their target price on shares of Southern from $104.00 to $93.00 and set a “neutral” rating on the stock in a research note on Monday, December 15th. Finally, Wells Fargo & Company assumed coverage on shares of Southern in a report on Monday, October 27th. They set an “equal weight” rating and a $97.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Southern has a consensus rating of “Hold” and an average target price of $96.21.

About Southern

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.