Norway Savings Bank cut its position in shares of The Southern Company (NYSE: SO – Get Rating) by 62.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 405 shares of the utilities provider’s stock after selling 675 shares during the quarter. Norway Savings Bank’s holdings in Southern were worth $ 29,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Arlington Partners LLC acquired a new position in Southern shares during the fourth quarter valued at $ 27,000. First Community Trust NA acquired a new position in shares of Southern during the fourth quarter valued at $ 27,000. Cassady Schiller Wealth Management LLC acquired a new position in shares of Southern during the fourth quarter valued at $ 28,000. Amplius Wealth Advisors LLC acquired a new position in shares of Southern during the fourth quarter valued at $ 28,000. Finally, Disciplined Investments LLC acquired a new position in shares of Southern during the fourth quarter valued at $ 29,000. Hedge funds and other institutional investors own 60.58% of the company stock.
SO has been the topic of a number of research analyst reports. StockNews.com started coverage on Southern in a report on Thursday, March 31st. They set a “hold” rating on the stock. Wells Fargo & Company lifted their target price on Southern from $ 68.00 to $ 80.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 19th. Morgan Stanley lowered their target price on Southern from $ 67.00 to $ 66.00 and set an “underweight” rating on the stock in a report on Monday, May 23rd. Credit Suisse Group started coverage on Southern in a report on Monday, April 25th. They set an “underperform” rating and a $ 77.00 target price on the stock. Finally, Mizuho lifted their target price on Southern from $ 67.00 to $ 76.00 and gave the stock a “neutral” rating in a report on Thursday, April 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $ 73.29.
Shares of SO opened at $ 65.39 on Tuesday. The business’s 50-day moving average price is $ 73.76 and its 200 day moving average price is $ 70.01. The stock has a market capitalization of $ 69.48 billion, a P / E ratio of 30.27, a P / E / G ratio of 4.59 and a beta of 0.48. The Southern Company has a 1-year low of $ 60.12 and a 1-year high of $ 77.24. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.55.
Southern (NYSE: SO – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The utilities provider reported $ 0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $ 0.91 by $ 0.06. The firm had revenue of $ 6.60 billion for the quarter, compared to analysts’ expectations of $ 5.93 billion. Southern had a return on equity of 11.35% and a net margin of 10.09%. Southern’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $ 0.98 EPS. On average, research analysts predict that The Southern Company will post 3.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 6th. Shareholders of record on Monday, May 16th were given a dividend of $ 0.68 per share. The ex-dividend date of this dividend was Friday, May 13th. This is a positive change from Southern’s previous quarterly dividend of $ 0.66. This represents a $ 2.72 dividend on an annualized basis and a yield of 4.16%. Southern’s dividend payout ratio (DPR) is presently 125.93%.
In other Southern news, CEO Stephen E. Kuczynski sold 14,500 shares of the firm’s stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $ 75.97, for a total transaction of $ 1,101,565.00. Following the completion of the sale, the chief executive officer now directly owns 115,284 shares in the company, valued at approximately $ 8,758,125.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bryan D. Anderson sold 26,917 shares of the firm’s stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $ 75.96, for a total value of $ 2,044,615.32. Following the sale, 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 have sold a total of 307,831 shares of company stock valued at $ 22,373,794 over the last 90 days. Corporate insiders own 0.37% of the company stock.
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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