QRG Capital Management Inc. Has $10.87 Million Stake in Southern Company (The) $SO

by · The Markets Daily

QRG Capital Management Inc. reduced its holdings in Southern Company (The) (NYSE:SO – Free Report) by 8.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 114,744 shares of the utilities provider’s stock after selling 11,032 shares during the period. QRG Capital Management Inc.’s holdings in Southern were worth $10,874,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SO. Rather & Kittrell Inc. acquired a new position in Southern during the third quarter valued at approximately $680,000. Evergreen Capital Management LLC grew its position in shares of Southern by 12.4% in the 3rd quarter. Evergreen Capital Management LLC now owns 8,401 shares of the utilities provider’s stock valued at $796,000 after acquiring an additional 924 shares during the period. First National Advisers LLC raised its holdings in shares of Southern by 3.3% in the 3rd quarter. First National Advisers LLC now owns 39,585 shares of the utilities provider’s stock valued at $3,751,000 after purchasing an additional 1,258 shares during the period. Vectors Research Management LLC lifted its stake in Southern by 2.4% in the 3rd quarter. Vectors Research Management LLC now owns 27,332 shares of the utilities provider’s stock valued at $2,590,000 after purchasing an additional 628 shares during the last quarter. Finally, Richardson Financial Services Inc. grew its holdings in Southern by 52.9% during the third quarter. Richardson Financial Services Inc. now owns 905 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 313 shares during the period. Institutional investors own 64.10% of the company’s stock.

Southern Trading Up 0.2%

Shares of SO stock opened at $89.00 on Friday. The stock has a 50 day simple moving average of $87.88 and a 200 day simple moving average of $91.85. Southern Company has a 1 year low of $82.05 and a 1 year high of $100.83. The company has a current ratio of 0.75, a quick ratio of 0.59 and a debt-to-equity ratio of 1.69. The stock has a market cap of $98.00 billion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 2.68 and a beta of 0.46.

Southern (NYSE:SO – Get Free Report) last released its earnings results on Wednesday, October 29th. The utilities provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.09. Southern had a return on equity of 12.52% and a net margin of 15.42%.The firm had revenue of $7.82 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same period in the prior year, the company posted $1.39 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. On average, research analysts predict that Southern Company will post 4.29 earnings per share for the current fiscal year.

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, November 17th were given a $0.74 dividend. The ex-dividend date was Monday, November 17th. This represents a $2.96 annualized dividend and a dividend yield of 3.3%. Southern’s payout ratio is presently 73.27%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SO. KeyCorp cut their price objective on Southern from $87.00 to $76.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. BTIG Research assumed coverage on shares of Southern in a report on Tuesday, October 21st. They set a “neutral” rating for the company. Jefferies Financial Group decreased their price target on shares of Southern from $104.00 to $93.00 and set a “neutral” rating on the stock in a research note on Monday, December 15th. Cowen restated a “buy” rating on shares of Southern in a report on Thursday, December 11th. Finally, TD Cowen assumed coverage on Southern in a research note on Thursday, October 16th. They issued a “buy” rating and a $112.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Southern presently has an average rating of “Hold” and an average target price of $96.03.

View Our Latest Stock Report on SO

Southern Profile

(Free Report)

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.

See Also

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