TD Asset Management Inc Increases Stake in The Southern Company (NYSE:SO)

TD Asset Management Inc boosted its holdings in shares of The Southern Company (NYSE:SO - Free Report) by 6.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,932 shares of the utilities provider's stock after purchasing an additional 22,214 shares during the period. TD Asset Management Inc's holdings in Southern were worth $26,220,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Southern during the fourth quarter valued at $631,068,000. Ameriprise Financial Inc. lifted its position in Southern by 38.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,547,188 shares of the utilities provider's stock valued at $488,461,000 after purchasing an additional 2,096,988 shares during the period. FMR LLC boosted its stake in shares of Southern by 5.0% in the 3rd quarter. FMR LLC now owns 38,906,760 shares of the utilities provider's stock valued at $2,518,045,000 after purchasing an additional 1,838,857 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Southern by 6,303.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,199,544 shares of the utilities provider's stock worth $84,112,000 after buying an additional 1,180,812 shares during the period. Finally, Boston Partners bought a new stake in shares of Southern during the fourth quarter worth approximately $56,924,000. Institutional investors and hedge funds own 64.10% of the company's stock.

Southern Stock Up 2.6 %

SO stock traded up $2.06 during trading hours on Friday, reaching $80.14. 7,168,035 shares of the stock were exchanged, compared to its average volume of 4,550,382. The firm's 50-day moving average is $74.22 and its 200-day moving average is $71.16. The Southern Company has a 12 month low of $61.56 and a 12 month high of $80.23. The company has a market cap of $87.72 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 3.32 and a beta of 0.48. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.92 and a quick ratio of 0.65.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.13. Southern had a net margin of 16.74% and a return on equity of 12.07%. The company had revenue of $6.65 billion during the quarter, compared to analysts' expectations of $6.59 billion. The business's quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS. On average, equities research analysts expect that The Southern Company will post 3.99 earnings per share for the current year.

Southern Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Monday, May 20th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.59%. This is an increase from Southern's previous quarterly dividend of $0.70. The ex-dividend date is Friday, May 17th. Southern's dividend payout ratio (DPR) is currently 74.42%.

Insiders Place Their Bets

In other Southern news, CEO Kimberly S. Greene sold 9,126 shares of the company's stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total transaction of $684,815.04. Following the sale, the chief executive officer now directly owns 121,504 shares of the company's stock, valued at $9,117,660.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Stephen E. Kuczynski sold 5,000 shares of the business's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $68.92, for a total transaction of $344,600.00. Following the completion of the sale, the chief executive officer now owns 126,528 shares in the company, valued at $8,720,309.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kimberly S. Greene sold 9,126 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total value of $684,815.04. Following the transaction, the chief executive officer now owns 121,504 shares in the company, valued at approximately $9,117,660.16. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SO. Bank of America lifted their target price on shares of Southern from $73.00 to $79.00 and gave the stock a "neutral" rating in a report on Friday. Morgan Stanley upped their price objective on Southern from $67.00 to $74.00 and gave the company an "equal weight" rating in a report on Tuesday, May 28th. Wells Fargo & Company raised their target price on Southern from $72.00 to $77.00 and gave the stock an "equal weight" rating in a report on Friday, May 3rd. Mizuho upped their price target on Southern from $73.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $80.00 price objective on shares of Southern in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Southern currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.60.

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.