State of New Jersey Common Pension Fund D Has $44.05 Million Position in Southern Company (The) (SO)

State of New Jersey Common Pension Fund D increased its stake in shares of Southern Company (The) (NYSE:SO) by 48.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 920,000 shares of the utilities provider’s stock after buying an additional 300,000 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.09% of Southern Company (The) worth $44,050,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SO. Symmetry Partners LLC bought a new position in shares of Southern Company (The) during the 1st quarter worth approximately $103,000. Stuart Chaussee & Associates Inc. lifted its position in shares of 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 buying an additional 1,740 shares during the period. IHT Wealth Management LLC lifted its position in shares of 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 buying an additional 302 shares during the period. AlphaMark Advisors LLC lifted its position in shares of 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 buying an additional 1,260 shares during the period. Finally, Ruggie Capital Group lifted its position in shares of 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 buying an additional 1,792 shares during the period. Institutional investors and hedge funds own 53.27% of the company’s stock.

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

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In other news, EVP Christopher C. Womack sold 75,144 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total value of $3,703,847.76. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Shares of Southern Company (NYSE:SO) opened at 50.64 on Friday. The company has a market cap of $50.61 billion, a P/E ratio of 83.29 and a beta of 0.13. The stock’s 50 day moving average price is $48.86 and its 200-day moving average price is $49.47. Southern Company has a 52-week low of $46.20 and a 52-week high of $53.73.

Southern Company (The) (NYSE:SO) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.23 billion. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The company’s revenue was up 21.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. Equities analysts expect that Southern Company will post $2.94 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Thursday, August 17th. Southern Company (The)’s payout ratio is 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.

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

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