Southern Company (The) (NYSE:SO – Get Free Report) EVP Sterling Jr. Spainhour sold 3,333 shares of the company’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $91.81, for a total value of $306,002.73. Following the completion of the transaction, the executive vice president directly owned 31,886 shares in the company, valued at $2,927,453.66. This represents a 9.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Southern Price Performance
Shares of NYSE:SO 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 stock has a fifty day moving average of $88.37 and a 200-day moving average of $92.53. The company has a market capitalization of $108.97 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 2.44 and a beta of 0.30. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.62 and a current ratio of 0.84.
Southern (NYSE:SO – Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The utilities provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.23. The business 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 was up 13.0% compared to the same quarter last year. During the same period last year, the company posted $1.54 EPS. As a group, equities analysts anticipate that Southern Company will post 4.63 EPS for the current fiscal year.
Southern Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, November 16th. Southern’s dividend payout ratio is currently 69.25%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on SO shares. Capital One Financial set a $99.00 price target on Southern in a research note on Monday. Barclays reduced their price objective on shares of Southern from $101.00 to $92.00 and set an “equal weight” rating for the company in a research note on Friday, October 16th. The Goldman Sachs Group decreased their target price on shares of Southern from $103.00 to $101.00 in a report on Thursday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Southern in a research report on Tuesday, October 27th. Finally, Truist Financial cut their price target on shares of Southern from $97.00 to $93.00 and set a “hold” rating on the stock in a report on Thursday, October 15th. Eight research 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. Based on data from MarketBeat.com, Southern presently has a consensus rating of “Hold” and a consensus target price of $97.32.
Read Our Latest Stock Analysis on SO
Institutional Trading of Southern
Hedge funds and other institutional investors have recently modified their holdings of the business. Evergreen Advisors LLC acquired a new position in Southern during the first quarter valued at $25,000. Scarborough Advisors LLC acquired a new stake in Southern during the 1st quarter worth about $25,000. Bullseye Investment Management LLC acquired a new stake in Southern during the 2nd quarter worth about $26,000. J.Safra Asset Management Corp purchased a new position in Southern during the 2nd quarter valued at about $30,000. Finally, Frazier Financial Advisors LLC purchased a new position in Southern during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 64.10% of the company’s stock.
Southern Company 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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