Machina Capital S.A.S. bought a new position in Southern Company (The) (NYSE:SO – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 29,340 shares of the utilities provider’s stock, valued at approximately $2,432,000.
A number of other large investors also recently modified their holdings of SO. Evergreen Advisors LLC bought a new stake in shares of Southern during the first quarter valued at approximately $25,000. Scarborough Advisors LLC acquired a new stake in shares of Southern in the first quarter valued at approximately $25,000. Bullseye Investment Management LLC acquired a new stake in shares of Southern in the second quarter valued at approximately $26,000. J.Safra Asset Management Corp bought a new position in Southern in the 2nd quarter worth approximately $30,000. Finally, Frazier Financial Advisors LLC bought a new position in Southern in the 2nd quarter worth approximately $31,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.
Southern Price Performance
Shares of SO opened at $93.74 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 1.55. Southern Company has a 1 year low of $81.69 and a 1 year high of $99.58. The stock has a market cap of $109.14 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 2.43 and a beta of 0.30. The stock’s 50-day moving average price is $88.49 and its two-hundred day moving average price is $92.56.
Southern (NYSE:SO – Get Free Report) last posted its earnings results on Thursday, November 5th. The utilities provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.23. The company had revenue of $8.84 billion during the quarter, compared to analyst estimates of $8.38 billion. Southern had a return on equity of 13.57% and a net margin of 16.00%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.54 EPS. On average, equities analysts predict that Southern Company will post 4.65 earnings per share for the current year.
Southern Announces Dividend
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 paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $3.04 annualized dividend and a yield of 3.2%. Southern’s dividend payout ratio (DPR) is presently 69.25%.
Analysts Set New Price Targets
SO has been the topic of several research reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Southern in a report on Wednesday, October 21st. Wall Street Zen cut Southern from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. The Goldman Sachs Group lowered their target price on Southern from $103.00 to $101.00 in a research note on Thursday, October 15th. HSBC began coverage on Southern in a research report on Thursday, October 22nd. They set a “buy” rating and a $99.50 target price for the company. Finally, Barclays cut their price target on Southern from $101.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Friday, October 16th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Southern currently has an average rating of “Hold” and an average price target of $97.32.
Check Out Our Latest Research Report on Southern
Insider Transactions at Southern
In related news, EVP Sterling Spainhour, Jr. sold 3,333 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $91.81, for a total transaction of $306,002.73. Following the completion of the transaction, the executive vice president owned 31,886 shares in the company, valued at approximately $2,927,453.66. The trade was a 9.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.
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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