Daiwa Securities Group Inc. Grows Position in Southern Co (SO)

Daiwa Securities Group Inc. increased its position in Southern Co (NYSE:SO) by 5.1% during the third quarter, HoldingsChannel.com reports. The fund owned 36,239 shares of the utilities provider’s stock after acquiring an additional 1,770 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Southern were worth $1,580,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SO. Ipswich Investment Management Co. Inc. lifted its stake in Southern by 5.4% in the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 21,309 shares of the utilities provider’s stock valued at $987,000 after buying an additional 1,090 shares in the last quarter. Moloney Securities Asset Management LLC lifted its stake in Southern by 17.1% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 7,474 shares of the utilities provider’s stock valued at $346,000 after buying an additional 1,093 shares in the last quarter. Andra AP fonden lifted its stake in Southern by 2.1% in the 2nd quarter. Andra AP fonden now owns 52,500 shares of the utilities provider’s stock valued at $2,431,000 after buying an additional 1,100 shares in the last quarter. BB&T Corp lifted its stake in Southern by 0.7% in the 2nd quarter. BB&T Corp now owns 157,644 shares of the utilities provider’s stock valued at $7,301,000 after buying an additional 1,138 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Southern by 22.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 6,587 shares of the utilities provider’s stock valued at $293,000 after buying an additional 1,214 shares in the last quarter. Institutional investors and hedge funds own 57.42% of the company’s stock.

Shares of Southern stock opened at $46.81 on Friday. Southern Co has a fifty-two week low of $42.38 and a fifty-two week high of $52.65. The firm has a market cap of $47.67 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 3.46 and a beta of -0.09. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.68 and a current ratio of 0.81.

Southern (NYSE:SO) last issued its earnings results on Wednesday, November 7th. The utilities provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.68 billion. Southern had a return on equity of 13.19% and a net margin of 10.35%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the company posted $1.12 EPS. Analysts expect that Southern Co will post 3.02 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Monday, November 19th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.13%. The ex-dividend date is Friday, November 16th. Southern’s dividend payout ratio (DPR) is currently 79.47%.

A number of brokerages have weighed in on SO. SunTrust Banks reissued a “hold” rating and set a $50.00 price target on shares of Southern in a research note on Monday, August 6th. Morgan Stanley increased their price target on Southern from $42.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, July 16th. Howard Weil began coverage on Southern in a research note on Tuesday, July 24th. They set a “sector perform” rating and a $45.00 price target on the stock. Citigroup lowered Southern from a “neutral” rating to a “sell” rating and set a $45.00 price target on the stock. in a research note on Wednesday, August 8th. Finally, Evercore ISI lowered Southern from an “in-line” rating to an “underperform” rating in a research note on Thursday, August 9th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $45.96.

In related news, EVP Christopher C. Womack sold 16,371 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $47.40, for a total value of $775,985.40. Following the transaction, the executive vice president now directly owns 10,165 shares of the company’s stock, valued at approximately $481,821. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.73% of the company’s stock.

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Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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