Rhumbline Advisers boosted its position in shares of Southern Company (The) (NYSE:SO) by 1.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,748,124 shares of the utilities provider’s stock after acquiring an additional 25,515 shares during the quarter. Rhumbline Advisers owned 0.17% of Southern worth $85,903,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. AlphaMark Advisors LLC raised its position in Southern by 0.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 14 shares in the last quarter. South Texas Money Management Ltd. raised its position in Southern by 0.3% in the 2nd quarter. South Texas Money Management Ltd. now owns 7,084 shares of the utilities provider’s stock valued at $339,000 after purchasing an additional 19 shares in the last quarter. WMS Partners LLC raised its position in Southern by 0.6% in the 2nd quarter. WMS Partners LLC now owns 4,387 shares of the utilities provider’s stock valued at $210,000 after purchasing an additional 25 shares in the last quarter. Regal Investment Advisors LLC raised its position in Southern by 0.4% in the 1st quarter. Regal Investment Advisors LLC now owns 7,990 shares of the utilities provider’s stock valued at $398,000 after purchasing an additional 29 shares in the last quarter. Finally, Sfmg LLC raised its position in Southern by 0.5% in the 2nd quarter. Sfmg LLC now owns 6,435 shares of the utilities provider’s stock valued at $308,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 53.78% of the company’s stock.
A number of research firms have issued reports on SO. Zacks Investment Research raised Southern from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Bank of America reaffirmed an “underperform” rating and issued a $51.00 price target on shares of Southern in a research report on Tuesday, October 24th. SunTrust Banks reaffirmed a “hold” rating and issued a $52.00 price target on shares of Southern in a research report on Friday, October 20th. Jefferies Group reissued a “buy” rating and set a $56.00 target price (up previously from $55.00) on shares of Southern in a research report on Tuesday, September 12th. Finally, Guggenheim raised Southern from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $56.00 in a research report on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $49.72.
Southern Company (SO) traded up $0.53 during trading on Thursday, hitting $50.89. The company had a trading volume of 4,041,500 shares, compared to its average volume of 4,676,242. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73. The stock has a market capitalization of $50,542.71, a P/E ratio of 18.31, a PEG ratio of 4.55 and a beta of 0.13. Southern Company has a 12-month low of $46.58 and a 12-month high of $53.51.
Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.04. Southern had a return on equity of 10.81% and a net margin of 2.59%. The company had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. research analysts expect that Southern Company will post 2.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 6th. Stockholders of record on Monday, November 20th were issued a $0.58 dividend. The ex-dividend date was Friday, November 17th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.56%. Southern’s dividend payout ratio (DPR) is 414.29%.
In related news, CEO William P. Bowers sold 85,151 shares of the company’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total value of $4,257,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ann P. Daiss sold 5,080 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $53.28, for a total value of $270,662.40. Following the completion of the transaction, the insider now owns 7,474 shares of the company’s stock, valued at $398,214.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 213,813 shares of company stock valued at $11,029,988. Insiders own 1.00% of the company’s stock.
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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.
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