NJ State Employees Deferred Compensation Plan Continues to Hold Position in Southern Company (The) (SO)

NJ State Employees Deferred Compensation Plan maintained its position in shares of Southern Company (The) (NYSE:SO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,000 shares of the utilities provider’s stock at the close of the 2nd quarter. NJ State Employees Deferred Compensation Plan’s holdings in Southern Company (The) were worth $814,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SO. Symmetry Partners LLC purchased a new stake in Southern Company (The) during the 1st quarter worth approximately $103,000. Stuart Chaussee & Associates Inc. grew its position in Southern Company (The) by 358.8% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 1,740 shares during the last quarter. IHT Wealth Management LLC grew its position in Southern Company (The) by 15.3% during the 1st quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 302 shares during the last quarter. AlphaMark Advisors LLC grew its position in Southern Company (The) by 115.7% during the 1st quarter. AlphaMark Advisors LLC now owns 2,349 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 1,260 shares during the last quarter. Finally, Ruggie Capital Group grew its position in Southern Company (The) by 228.0% during the 1st quarter. Ruggie Capital Group now owns 2,578 shares of the utilities provider’s stock worth $128,000 after purchasing an additional 1,792 shares during the last quarter. 53.27% of the stock is currently owned by institutional investors.

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In other Southern Company (The) news, EVP Christopher C. Womack sold 75,144 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the sale, the executive vice president now directly owns 85,298 shares in the company, valued at approximately $4,204,338.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

SO has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Southern Company (The) from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Morgan Stanley dropped their price objective on shares of Southern Company (The) from $53.00 to $51.00 and set an “underweight” rating on the stock in a report on Friday, June 23rd. BidaskClub downgraded shares of Southern Company (The) from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Royal Bank Of Canada dropped their price objective on shares of Southern Company (The) from $54.00 to $53.00 and set a “sector perform” rating on the stock in a report on Wednesday, June 28th. Finally, Macquarie raised shares of Southern Company (The) from a “neutral” rating to an “outperform” rating and set a $52.00 price objective on the stock in a report on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Southern Company (The) has a consensus rating of “Hold” and an average target price of $49.63.

Southern Company (SO) opened at 50.64 on Friday. The firm has a market capitalization of $50.61 billion, a PE ratio of 83.29 and a beta of 0.13. Southern Company has a 52-week low of $46.20 and a 52-week high of $53.73. The firm’s 50-day moving average is $48.86 and its 200-day moving average is $49.47.

Southern Company (The) (NYSE:SO) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.23 billion. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The business’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. On average, analysts anticipate that Southern Company will post $2.94 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st were given a dividend of $0.58 per share. The ex-dividend date was Thursday, August 17th. This represents a $2.32 annualized dividend and a dividend yield of 4.58%. Southern Company (The)’s payout ratio is currently 346.27%.

About Southern Company (The)

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

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Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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