315,503 Shares in Southern Company (The) $SO Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Southern Company (The) (NYSE:SO) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 315,503 shares of the utilities provider’s stock, valued at approximately $26,152,000.

Other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC raised its position in shares of Southern by 1.4% in the third quarter. ProShare Advisors LLC now owns 181,376 shares of the utilities provider’s stock valued at $15,034,000 after purchasing an additional 2,474 shares during the period. Cidel Asset Management Inc. boosted its holdings in shares of Southern by 7.2% during the 3rd quarter. Cidel Asset Management Inc. now owns 9,282 shares of the utilities provider’s stock worth $769,000 after buying an additional 623 shares during the period. Summit Global Investments boosted its holdings in shares of Southern by 65.6% during the 3rd quarter. Summit Global Investments now owns 6,863 shares of the utilities provider’s stock worth $569,000 after buying an additional 2,719 shares during the period. MGO One Seven LLC boosted its holdings in shares of Southern by 3.9% during the 3rd quarter. MGO One Seven LLC now owns 61,478 shares of the utilities provider’s stock worth $5,096,000 after buying an additional 2,283 shares during the period. Finally, Greatmark Investment Partners Inc. grew its stake in Southern by 0.3% in the 3rd quarter. Greatmark Investment Partners Inc. now owns 52,018 shares of the utilities provider’s stock valued at $4,312,000 after buying an additional 146 shares during the last quarter. Institutional investors own 64.10% of the company’s stock.

Southern Stock Up 1.0%

Shares of SO stock opened at $94.64 on Tuesday. Southern Company has a 12 month low of $81.69 and a 12 month high of $99.58. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62. The firm has a market cap of $108.88 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.41 and a beta of 0.31. The stock has a 50 day moving average of $87.89 and a 200-day moving average of $92.39.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 16th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $3.04 dividend on an annualized basis and a yield of 3.2%. Southern’s payout ratio is 72.90%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. HSBC initiated coverage on shares of Southern in a report on Thursday, October 22nd. They issued a “buy” rating and a $99.50 target price on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Southern in a report on Tuesday, October 27th. Morgan Stanley decreased their price target on shares of Southern from $85.00 to $84.00 and set an “underweight” rating for the company in a report on Wednesday, October 21st. DA Davidson set a $98.00 price target on Southern in a research report on Wednesday, October 21st. Finally, Citigroup dropped their price objective on Southern from $114.00 to $104.00 and set a “buy” rating on the stock in a research note on Friday, September 25th. Eight research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $98.24.

Southern Company Profile

Southern Company (NYSE: SO) is an energy holding company headquartered in Atlanta, Georgia. Through its subsidiaries, the company generates, transmits, distributes and sells electricity, while also providing natural gas distribution and related energy services.

Southern’s electric utility operations include Alabama Power, Georgia Power and Mississippi Power, which serve customers across Alabama, Georgia and Mississippi. The company’s generation portfolio includes nuclear, natural gas, coal, hydroelectric and renewable energy resources.