Truvestments Capital LLC lowered its holdings in The Southern Company (NYSE:SO) by 86.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,459 shares of the utilities provider’s stock after selling 8,940 shares during the period. Truvestments Capital LLC’s holdings in The Southern were worth $79,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in SO. Keebeck Wealth Management LLC purchased a new stake in shares of The Southern in the second quarter valued at $29,000. Legacy Bridge LLC acquired a new position in The Southern in the second quarter valued at $31,000. MV Capital Management Inc. boosted its holdings in The Southern by 562.0% in the second quarter. MV Capital Management Inc. now owns 662 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 562 shares during the last quarter. Demars Financial Group LLC acquired a new position in The Southern in the second quarter valued at $36,000. Finally, Rockbridge Investment Management LCC acquired a new position in The Southern in the second quarter valued at $44,000. 57.29% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on SO. BMO Capital Markets began coverage on The Southern in a report on Tuesday, November 24th. They issued a “market perform” rating and a $67.00 target price on the stock. Barclays lifted their target price on The Southern from $61.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, November 18th. Morgan Stanley lifted their target price on The Southern from $60.00 to $62.00 and gave the company an “underweight” rating in a report on Tuesday, November 17th. Wells Fargo & Company upgraded The Southern from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $63.00 to $72.00 in a research note on Tuesday. Finally, Mizuho boosted their price objective on The Southern from $48.00 to $53.00 in a research note on Wednesday, October 28th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $64.15.
In related news, CEO Stephen E. Kuczynski sold 2,500 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $55.00, for a total value of $137,500.00. Following the completion of the sale, the chief executive officer now directly owns 71,996 shares of the company’s stock, valued at $3,959,780. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David J. Grain sold 10,291 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $52.92, for a total value of $544,599.72. Following the transaction, the director now directly owns 791 shares of the company’s stock, valued at $41,859.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,721 shares of company stock valued at $1,026,040. 0.39% of the stock is owned by corporate insiders.
Shares of NYSE SO opened at $59.85 on Tuesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.75 and a current ratio of 0.97. The firm has a market cap of $63.21 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 4.58 and a beta of 0.38. The Southern Company has a 1 year low of $41.96 and a 1 year high of $71.10. The stock’s 50-day simple moving average is $60.34 and its 200-day simple moving average is $55.74.
The Southern (NYSE:SO) last announced its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.02). The firm had revenue of $5.62 billion during the quarter, compared to the consensus estimate of $6.29 billion. The Southern had a net margin of 15.83% and a return on equity of 10.47%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 earnings per share. As a group, research analysts predict that The Southern Company will post 3.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 16th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Friday, November 13th. The Southern’s dividend payout ratio is currently 82.32%.
About The Southern
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.
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