PCM Encore LLC Buys Shares of 9,101 Southern Company (The) $SO

PCM Encore LLC bought a new position in Southern Company (The) (NYSE:SO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,101 shares of the utilities provider’s stock, valued at approximately $871,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SO. Evergreen Advisors LLC bought a new position in shares of Southern in the 1st quarter worth approximately $25,000. Scarborough Advisors LLC bought a new stake in Southern during the first quarter valued at approximately $25,000. Ankerstar Wealth LLC bought a new stake in Southern during the fourth quarter valued at approximately $25,000. Cornerstone Financial Management LLC purchased a new stake in Southern during the fourth quarter valued at approximately $27,000. Finally, J.Safra Asset Management Corp purchased a new stake in Southern during the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SO shares. JPMorgan Chase & Co. lifted their price target on shares of Southern from $101.00 to $104.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Morgan Stanley restated an “underweight” rating on shares of Southern in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern in a report on Wednesday, July 29th. KeyCorp downgraded Southern from a “sector weight” rating to an “underweight” rating and set a $79.00 target price on the stock. in a research report on Thursday, July 23rd. Finally, BMO Capital Markets boosted their price target on Southern from $102.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $100.09.

Southern Stock Performance

SO opened at $91.47 on Friday. The firm has a market cap of $105.22 billion, a P/E ratio of 21.94, a PEG ratio of 1.77 and a beta of 0.34. Southern Company has a 1-year low of $83.80 and a 1-year high of $100.83. The company has a 50 day simple moving average of $94.62 and a two-hundred day simple moving average of $94.44. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.79 and a quick ratio of 0.59.

Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.01 by $0.12. The firm had revenue of $6.98 billion for the quarter, compared to the consensus estimate of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. The company’s revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $0.79 EPS. Equities analysts forecast that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 17th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.3%. Southern’s dividend payout ratio is 72.90%.

Southern Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.