Alliancebernstein L.P. Has $67.42 Million Position in Southern Co (SO)

Alliancebernstein L.P. lifted its holdings in Southern Co (NYSE:SO) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,546,418 shares of the utilities provider’s stock after purchasing an additional 4,835 shares during the period. Alliancebernstein L.P.’s holdings in Southern were worth $67,424,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SO. Massachusetts Financial Services Co. MA raised its holdings in Southern by 17.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 17,342,735 shares of the utilities provider’s stock worth $803,142,000 after acquiring an additional 2,552,028 shares during the period. Morgan Stanley raised its holdings in Southern by 35.0% in the 2nd quarter. Morgan Stanley now owns 4,929,465 shares of the utilities provider’s stock worth $228,284,000 after acquiring an additional 1,278,656 shares during the period. BlackRock Inc. raised its holdings in Southern by 1.8% in the 2nd quarter. BlackRock Inc. now owns 64,498,296 shares of the utilities provider’s stock worth $2,986,915,000 after acquiring an additional 1,168,307 shares during the period. Commonwealth Bank of Australia raised its holdings in Southern by 16.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 8,334,190 shares of the utilities provider’s stock worth $385,555,000 after acquiring an additional 1,156,583 shares during the period. Finally, Mainstay Capital Management LLC ADV raised its holdings in Southern by 2,035.4% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 861,791 shares of the utilities provider’s stock worth $19,097,000 after acquiring an additional 821,434 shares during the period. 56.97% of the stock is owned by institutional investors and hedge funds.

NYSE:SO opened at $45.72 on Monday. Southern Co has a 52-week low of $42.38 and a 52-week high of $52.00. The company has a current ratio of 0.72, a quick ratio of 0.58 and a debt-to-equity ratio of 1.48. The stock has a market cap of $47.04 billion, a PE ratio of 13.73, a P/E/G ratio of 3.35 and a beta of -0.09.

Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, November 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.07. Southern had a net margin of 10.35% and a return on equity of 12.88%. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The business’s revenue was up 8.0% compared to the same quarter last year. On average, research analysts expect that Southern Co will post 3.03 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Monday, November 19th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a $2.40 annualized dividend and a dividend yield of 5.25%. Southern’s payout ratio is 79.47%.

Several brokerages recently commented on SO. SunTrust Banks reiterated a “hold” rating and issued a $50.00 target price on shares of Southern in a report on Monday, August 6th. Zacks Investment Research downgraded shares of Southern from a “buy” rating to a “hold” rating in a report on Friday, November 16th. Citigroup downgraded shares of Southern from a “neutral” rating to a “sell” rating and set a $45.00 target price on the stock. in a report on Wednesday, August 8th. Barclays boosted their price objective on shares of Southern from $48.00 to $49.00 and gave the stock a “hold” rating in a report on Monday, November 19th. Finally, Evercore ISI downgraded shares of Southern from an “in-line” rating to an “underperform” rating in a report on Thursday, August 9th. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $46.32.

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About Southern

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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