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

QRG Capital Management Inc. cut its holdings in shares of Southern Company (The) (NYSE:SO) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Ameriflex Group Inc. raised its position in shares of Southern by 275.0% during the 2nd quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 220 shares during the last quarter. Advantage Trust Co grew its stake in shares of Southern by 1,428.6% during the second quarter. Advantage Trust Co now owns 321 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 300 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new position in Southern in the third quarter valued at about $34,000. IMG Wealth Management Inc. bought a new position in Southern during the second quarter worth about $38,000. Finally, Anfield Capital Management LLC grew its position in shares of Southern by 309.5% during the 2nd quarter. Anfield Capital Management LLC now owns 430 shares of the utilities provider’s stock worth $39,000 after buying an additional 325 shares during the period. Institutional investors own 64.10% of the company’s stock.

Southern Trading Up 0.2%

SO opened at $89.00 on Friday. The stock has a market capitalization of $98.00 billion, a P/E ratio of 22.03, a P/E/G ratio of 2.68 and a beta of 0.46. The company has a current ratio of 0.75, a quick ratio of 0.59 and a debt-to-equity ratio of 1.69. Southern Company has a 12 month low of $82.05 and a 12 month high of $100.83. The firm’s fifty day simple moving average is $87.88 and its 200 day simple moving average is $91.85.

Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.09. The firm had revenue of $7.82 billion for the quarter, compared to the consensus estimate of $8.04 billion. Southern had a return on equity of 12.52% and a net margin of 15.42%.The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $1.39 EPS. As a group, research analysts anticipate that Southern Company will post 4.29 EPS for the current fiscal year.

Southern Dividend Announcement

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

Analysts Set New Price Targets

SO has been the topic of a number of analyst reports. Scotiabank reiterated a “sector perform” rating and issued a $99.00 price target on shares of Southern in a research report on Friday, October 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern in a report on Wednesday, October 8th. BTIG Research initiated coverage on shares of Southern in a research report on Tuesday, October 21st. They set a “neutral” rating on the stock. Cowen restated a “buy” rating on shares of Southern in a research report on Thursday, December 11th. Finally, LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $102.50 price objective (up previously from $99.50) on shares of Southern in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $96.03.

About Southern

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.