DNB Asset Management AS Grows Stock Holdings in Southern Company (The) $SO

DNB Asset Management AS lifted its position in Southern Company (The) (NYSE:SO) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 453,922 shares of the utilities provider’s stock after buying an additional 17,744 shares during the period. DNB Asset Management AS’s holdings in Southern were worth $43,018,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SO. Cloud Capital Management LLC acquired a new stake in shares of Southern in the 3rd quarter worth $25,000. Grey Fox Wealth Advisors LLC acquired a new stake in Southern in the third quarter worth about $29,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Southern in the third quarter worth about $34,000. Chilton Capital Management LLC grew its stake in shares of Southern by 120.1% during the third quarter. Chilton Capital Management LLC now owns 361 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 197 shares during the last quarter. Finally, Anfield Capital Management LLC increased 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 valued at $39,000 after acquiring an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Stock Performance

NYSE SO opened at $96.33 on Friday. The stock has a market capitalization of $106.07 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.90 and a beta of 0.45. The stock has a 50-day moving average of $89.50 and a 200 day moving average of $91.35. The company has a current ratio of 0.65, a quick ratio of 0.47 and a debt-to-equity ratio of 1.69. Southern Company has a twelve month low of $83.09 and a twelve month high of $100.83.

Southern (NYSE:SO) last announced its earnings results on Wednesday, February 18th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). Southern had a net margin of 14.69% and a return on equity of 12.52%. The company had revenue of $6.98 billion during the quarter, compared to analyst estimates of $6.41 billion. During the same quarter last year, the business earned $0.50 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Sell-side analysts anticipate that Southern Company will post 4.29 EPS for the current fiscal year.

Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 17th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, February 17th. Southern’s dividend payout ratio (DPR) is currently 75.32%.

Wall Street Analyst Weigh In

Several analysts have weighed in on SO shares. Wall Street Zen downgraded shares of Southern from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. The Goldman Sachs Group lowered shares of Southern from a “buy” rating to a “neutral” rating and set a $98.00 price objective on the stock. in a report on Thursday, November 6th. KeyCorp reduced their target price on Southern from $87.00 to $76.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $105.00 price target on shares of Southern in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Southern from $104.00 to $93.00 and set a “neutral” rating for the company in a research note on Monday, December 15th. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $97.64.

Southern 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.