Mitsubishi UFJ Trust & Banking Corp Has $54.27 Million Holdings in Southern Co (SO)

Mitsubishi UFJ Trust & Banking Corp lowered its position in Southern Co (NYSE:SO) by 50.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,244,718 shares of the utilities provider’s stock after selling 1,247,338 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.12% of Southern worth $54,270,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SO. Kaizen Advisory LLC raised its position in shares of Southern by 133.8% during the 2nd quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 1,307 shares during the last quarter. Destination Wealth Management raised its position in shares of Southern by 359.3% during the 2nd quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 1,811 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Southern during the 2nd quarter worth about $119,000. Horan Capital Advisors LLC. acquired a new position in shares of Southern during the 2nd quarter worth about $121,000. Finally, Sound Income Strategies LLC raised its position in shares of Southern by 83.5% during the 3rd quarter. Sound Income Strategies LLC now owns 2,855 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 1,299 shares during the last quarter. Institutional investors and hedge funds own 56.97% of the company’s stock.

Southern stock opened at $45.72 on Monday. Southern Co has a 1-year low of $42.38 and a 1-year high of $52.00. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.72 and a quick ratio of 0.58. The company has a market capitalization of $47.04 billion, a PE ratio of 15.14, a PEG ratio of 3.35 and a beta of -0.09.

Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, November 7th. The utilities provider reported $1.14 earnings per share for the quarter, beating 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 business had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the prior year, the company posted $1.12 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities analysts forecast that Southern Co will post 3.03 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Monday, November 19th will be paid a $0.60 dividend. 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 dividend payout ratio (DPR) is 79.47%.

A number of analysts have commented on SO shares. Bank of America upgraded shares of Southern from an “underperform” rating to a “neutral” rating and set a $46.00 price objective for the company in a report on Wednesday, October 10th. SunTrust Banks reiterated a “hold” rating and issued a $48.00 price objective on shares of Southern in a report on Thursday, November 8th. Credit Suisse Group downgraded shares of Southern from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $46.00 to $43.00 in a report on Thursday, August 9th. Scotiabank reiterated a “hold” rating and issued a $44.00 price objective on shares of Southern in a report on Thursday, August 9th. Finally, Barclays increased their price objective on shares of Southern from $48.00 to $49.00 and gave the company a “hold” rating in a report on Monday, November 19th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price 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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