Altman Advisors Inc. acquired a new stake in shares of Southern Co (NYSE:SO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,467 shares of the utilities provider’s stock, valued at approximately $215,000.
Other hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC raised its holdings in shares of Southern by 22.2% in the fourth quarter. Sterling Capital Management LLC now owns 115,630 shares of the utilities provider’s stock worth $5,561,000 after buying an additional 21,030 shares during the period. MetLife Investment Advisors LLC purchased a new stake in shares of Southern in the fourth quarter worth approximately $14,933,000. Gotham Asset Management LLC purchased a new stake in shares of Southern in the fourth quarter worth approximately $826,000. HBK Sorce Advisory LLC raised its holdings in shares of Southern by 18.8% in the fourth quarter. HBK Sorce Advisory LLC now owns 12,215 shares of the utilities provider’s stock worth $587,000 after buying an additional 1,931 shares during the period. Finally, MainStreet Investment Advisors LLC purchased a new stake in shares of Southern in the fourth quarter worth approximately $2,816,000. Institutional investors and hedge funds own 56.39% of the company’s stock.
Shares of SO stock opened at $43.85 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $44,550.54, a price-to-earnings ratio of 51.59, a price-to-earnings-growth ratio of 3.38 and a beta of 0.07. Southern Co has a 52-week low of $42.38 and a 52-week high of $53.51.
Southern (NYSE:SO) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The business had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Southern had a return on equity of 11.96% and a net margin of 3.82%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. equities research analysts forecast that Southern Co will post 2.9 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.58 per share. The ex-dividend date was Friday, February 16th. This represents a $2.32 annualized dividend and a yield of 5.29%. Southern’s dividend payout ratio (DPR) is presently 272.94%.
SO has been the topic of several research analyst reports. Mizuho reissued a “buy” rating and issued a $52.00 price objective on shares of Southern in a research note on Tuesday, December 26th. Royal Bank of Canada reissued a “buy” rating on shares of Southern in a research note on Friday, December 22nd. Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Tuesday, December 12th. Guggenheim reissued a “buy” rating and issued a $52.00 price objective on shares of Southern in a research note on Wednesday, January 3rd. Finally, Deutsche Bank dropped their price objective on Southern from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.47.
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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