Arizona State Retirement System Raises Holdings in Southern Co (SO)

Arizona State Retirement System boosted its holdings in shares of Southern Co (NYSE:SO) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 528,127 shares of the utilities provider’s stock after purchasing an additional 6,768 shares during the period. Arizona State Retirement System owned approximately 0.05% of Southern worth $23,026,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SO. Kaizen Advisory LLC lifted its stake in shares of Southern by 133.8% in the 2nd quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock worth $106,000 after acquiring an additional 1,307 shares during the period. Destination Wealth Management lifted its stake in shares of Southern by 359.3% in the 2nd quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 1,811 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Southern in the 2nd quarter worth $119,000. Horan Capital Advisors LLC. acquired a new stake in shares of Southern in the 2nd quarter worth $121,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Southern by 83.5% in the 3rd quarter. Sound Income Strategies LLC now owns 2,855 shares of the utilities provider’s stock worth $124,000 after acquiring an additional 1,299 shares during the period. 57.34% of the stock is currently owned by institutional investors.

Shares of NYSE SO opened at $45.89 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. Southern Co has a 52 week low of $42.38 and a 52 week high of $53.51. The stock has a market capitalization of $45.49 billion, a P/E ratio of 15.20, a P/E/G ratio of 3.32 and a beta of -0.05.



Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, August 8th. The utilities provider reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.11. Southern had a net margin of 9.96% and a return on equity of 13.06%. The firm had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the business earned $0.73 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, research analysts anticipate that Southern Co will post 3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Monday, November 19th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend is Friday, November 16th. Southern’s dividend payout ratio (DPR) is 79.47%.

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

SO has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Southern from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Tuesday, October 9th. Barclays cut shares of Southern from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $51.00 to $48.00 in a research note on Thursday, August 9th. SunTrust Banks restated a “hold” rating and issued a $50.00 target price on shares of Southern in a research note on Monday, August 6th. ValuEngine upgraded shares of Southern from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. Finally, Scotiabank reiterated a “hold” rating and issued a $44.00 price objective on shares of Southern in a research note on Thursday, August 9th. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Southern presently has a consensus rating of “Hold” and a consensus price target of $46.11.

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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