Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of The Southern Company (NYSE: SO – Get Rating) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,853 shares of the utilities provider’s stock after acquiring an additional 1,681 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Southern were worth $ 6,733,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of Southern in the fourth quarter valued at $ 161,000. Liberty One Investment Management LLC lifted its stake in shares of Southern by 4.4% in the fourth quarter. Liberty One Investment Management LLC now owns 357,557 shares of the utilities provider’s stock valued at $ 24,521,000 after buying an additional 15,206 shares in the last quarter. Koshinski Asset Management Inc. lifted its stake in shares of Southern by 20.0% in the fourth quarter. Koshinski Asset Management Inc. now owns 19,490 shares of the utilities provider’s stock valued at $ 1,337,000 after buying an additional 3,253 shares in the last quarter. Cypress Capital Group lifted its stake in shares of Southern by 11.5% in the fourth quarter. Cypress Capital Group now owns 10,764 shares of the utilities provider’s stock valued at $ 738,000 after buying an additional 1,114 shares in the last quarter. Finally, IVC Wealth Advisors LLC lifted its stake in shares of Southern by 3.4% in the fourth quarter. IVC Wealth Advisors LLC now owns 6,625 shares of the utilities provider’s stock valued at $ 454,000 after buying an additional 216 shares in the last quarter. 60.58% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Stephen E. Kuczynski sold 14,500 shares of the firm’s stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $ 75.97, for a total value of $ 1,101,565.00. Following the completion of the transaction, the chief executive officer now directly owns 115,284 shares in the company, valued at $ 8,758,125.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bryan D. Anderson sold 26,917 shares of the firm’s stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $ 75.96, for a total transaction of $ 2,044,615.32. Following the completion of the transaction, the executive vice president now owns 30,660 shares of the company stock, valued at $ 2,328,933.60. The disclosure for this sale can be found here. Insiders sold 207,826 shares of company stock valued at $ 15,368,444 in the last quarter. Corporate insiders own 0.37% of the company stock.
A number of research firms recently weighed in on SO. Mizuho raised their price target on shares of Southern from $ 67.00 to $ 76.00 and gave the company a “neutral” rating in a research report on Thursday, April 21st. BMO Capital Markets dropped their price target on Southern shares from $ 81.00 to $ 70.00 and set a “market perform” rating on the stock in a research report on Wednesday, June 22nd. Wells Fargo & Company raised their price target on shares of Southern from $ 68.00 to $ 80.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 19th. StockNews.com began coverage on shares of Southern in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Credit Suisse Group started coverage on shares of Southern in a research report on Monday, April 25th. They set an “underperform” rating and a $ 77.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $ 72.88.
NYSE SO opened at $ 70.62 on Wednesday. The Southern Company has a 52-week low of $ 60.12 and a 52-week high of $ 77.24. The company has a 50-day simple moving average of $ 72.96 and a 200 day simple moving average of $ 70.16. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market capitalization of $ 75.04 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 4.90 and a beta of 0.48.
Southern (NYSE: SO – Get Rating) last posted its earnings results on Thursday, April 28th. The utilities provider reported $ 0.97 earnings per share for the quarter, topping the consensus estimate of $ 0.91 by $ 0.06. The firm had revenue of $ 6.60 billion during the quarter, compared to the consensus estimate of $ 5.93 billion. Southern had a net margin of 10.09% and a return on equity of 11.35%. The company revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $ 0.98 earnings per share. As a group, analysts forecast that The Southern Company will post 3.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 6th. Stockholders of record on Monday, May 16th were paid a $ 0.68 dividend. This is an increase from Southern’s previous quarterly dividend of $ 0.66. The ex-dividend date of this dividend was Friday, May 13th. This represents a $ 2.72 annualized dividend and a dividend yield of 3.85%. Southern’s dividend payout ratio (DPR) is presently 125.93%.
Southern Company Profile: (Get Rating)
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects 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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