Woodley Farra Manion Portfolio Management Inc. lifted its stake in Southern Company (The) (NYSE:SO – Free Report) by 23.8% during the third quarter, HoldingsChannel reports. The fund owned 62,722 shares of the utilities provider’s stock after purchasing an additional 12,070 shares during the quarter. Woodley Farra Manion Portfolio Management Inc.’s holdings in Southern were worth $5,199,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of SO. Evergreen Advisors LLC purchased a new position in Southern in the first quarter valued at about $25,000. Scarborough Advisors LLC acquired a new position in Southern in the 1st quarter worth about $25,000. Bullseye Investment Management LLC acquired a new position in Southern in the 2nd quarter worth about $26,000. J.Safra Asset Management Corp purchased a new stake in shares of Southern during the 2nd quarter worth about $30,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Southern during the 2nd quarter worth about $31,000. 64.10% of the stock is currently owned by hedge funds and other institutional investors.
Southern Trading Up 0.0%
Southern stock opened at $93.60 on Wednesday. Southern Company has a one year low of $81.69 and a one year high of $99.58. The company’s fifty day moving average price is $88.37 and its two-hundred day moving average price is $92.53. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.84 and a quick ratio of 0.62. The company has a market capitalization of $108.97 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 2.44 and a beta of 0.30.
Southern (NYSE:SO – Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The utilities provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.23. Southern had a return on equity of 13.57% and a net margin of 16.00%. The company had revenue of $8.84 billion during the quarter, compared to analysts’ expectations of $8.38 billion. During the same quarter in the previous year, the firm earned $1.54 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, analysts forecast that Southern Company will post 4.63 earnings per share for the current fiscal year.
Southern Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 16th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, November 16th. Southern’s dividend payout ratio (DPR) is presently 69.25%.
Insiders Place Their Bets
In other Southern news, EVP Sterling Spainhour, Jr. sold 3,333 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $91.81, for a total transaction of $306,002.73. Following the completion of the sale, the executive vice president owned 31,886 shares of the company’s stock, valued at $2,927,453.66. This represents a 9.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on SO. DA Davidson set a $98.00 price target on Southern in a report on Wednesday, October 21st. Wall Street Zen downgraded Southern from a “hold” rating to a “sell” rating in a report on Saturday. KeyCorp cut their price objective on shares of Southern from $79.00 to $74.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 13th. JPMorgan Chase & Co. reduced their target price on shares of Southern from $101.00 to $94.00 and set a “neutral” rating for the company in a research note on Tuesday, October 13th. Finally, LADENBURG THALM/SH SH decreased their target price on shares of Southern from $96.50 to $85.50 and set a “neutral” rating for the company in a research report on Monday, September 28th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Southern currently has an average rating of “Hold” and an average price target of $97.32.
Check Out Our Latest Stock Analysis on Southern
Southern Profile
Southern Company is an energy holding company based in Atlanta, Georgia. Through its subsidiaries, it generates, transmits and distributes electricity and provides natural gas service, primarily across the southeastern United States. Its electric utility businesses include Alabama Power, Georgia Power and Mississippi Power, which serve customers in their respective states. Southern Company also owns Southern Power, which develops and operates wholesale power generation assets, and Southern Company Gas, whose businesses distribute natural gas to customers in several states.
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