Brandywine Global Investment Management LLC Has $25.62 Million Position in Southern Company (The) $SO

Brandywine Global Investment Management LLC cut its stake in Southern Company (The) (NYSE:SO) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 279,004 shares of the utilities provider’s stock after selling 6,460 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Southern were worth $25,621,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SO. Ameriflex Group Inc. raised its stake in shares of Southern by 275.0% during the 2nd quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 220 shares in the last quarter. Cheviot Value Management LLC bought a new position in Southern during the first quarter valued at approximately $28,000. Advantage Trust Co raised its position in Southern by 1,428.6% during the second quarter. Advantage Trust Co now owns 321 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Financial Connections Group Inc. acquired a new stake in Southern in the first quarter valued at approximately $33,000. Finally, Accredited Wealth Management LLC bought a new stake in Southern in the first quarter worth approximately $36,000. 64.10% of the stock is currently owned by hedge funds and other institutional investors.

Southern Price Performance

NYSE SO opened at $89.36 on Friday. The stock has a 50-day simple moving average of $93.91 and a 200 day simple moving average of $92.44. Southern Company has a twelve month low of $80.46 and a twelve month high of $100.83. The stock has a market capitalization of $98.39 billion, a PE ratio of 22.97, a P/E/G ratio of 3.31 and a beta of 0.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.54 and a current ratio of 0.74.

Southern (NYSE:SO) last released its earnings results on Wednesday, October 29th. The utilities provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.09. Southern had a return on equity of 12.09% and a net margin of 15.10%.The firm had revenue of $7.82 billion for the quarter, compared to analyst estimates of $8.04 billion. During the same quarter last year, the firm posted $1.39 EPS. The company’s revenue was up 7.5% on a year-over-year basis. Research analysts anticipate that Southern Company will post 4.29 EPS for the current year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 17th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.96 dividend on an annualized basis and a yield of 3.3%. Southern’s payout ratio is 73.27%.

Analyst Ratings Changes

SO has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern in a research note on Wednesday, October 8th. Morgan Stanley reaffirmed an “underperform” rating and issued a $97.00 price target on shares of Southern in a research report on Thursday. Mizuho upped their price target on Southern from $93.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. TD Cowen initiated coverage on Southern in a research note on Thursday, October 16th. They issued a “buy” rating and a $112.00 price objective on the stock. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $99.00 target price on shares of Southern in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $99.03.

Southern Profile

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