SG Americas Securities LLC decreased its position in Southern Co (NYSE:SO) by 14.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,545 shares of the utilities provider’s stock after selling 26,490 shares during the period. SG Americas Securities LLC’s holdings in Southern were worth $7,832,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Old Port Advisors acquired a new stake in Southern during the 1st quarter worth $205,000. Financial Architects Inc raised its stake in Southern by 11.7% during the 4th quarter. Financial Architects Inc now owns 17,924 shares of the utilities provider’s stock worth $787,000 after buying an additional 1,877 shares during the period. American Asset Management Inc. raised its stake in shares of Southern by 13.4% in the 4th quarter. American Asset Management Inc. now owns 13,520 shares of the utilities provider’s stock valued at $594,000 after purchasing an additional 1,595 shares during the period. Monte Financial Group LLC raised its stake in shares of Southern by 2.3% in the 1st quarter. Monte Financial Group LLC now owns 62,474 shares of the utilities provider’s stock valued at $3,229,000 after purchasing an additional 1,394 shares during the period. Finally, Rampart Investment Management Company LLC raised its stake in shares of Southern by 168.3% in the 4th quarter. Rampart Investment Management Company LLC now owns 77,416 shares of the utilities provider’s stock valued at $3,400,000 after purchasing an additional 48,561 shares during the period. 56.69% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, May 13th. ValuEngine downgraded Southern from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Credit Suisse Group set a $51.00 price objective on Southern and gave the company a “sell” rating in a report on Monday, April 22nd. restated a “sell” rating on shares of Southern in a report on Wednesday, February 13th. Finally, SunTrust Banks restated a “hold” rating and issued a $52.00 price objective on shares of Southern in a report on Monday, February 25th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $48.23.
Shares of NYSE:SO traded up $0.01 during trading on Friday, reaching $54.35. 2,830,000 shares of the stock were exchanged, compared to its average volume of 4,763,349. Southern Co has a 12 month low of $42.50 and a 12 month high of $54.76. The stock has a market cap of $56.14 billion, a PE ratio of 17.70, a P/E/G ratio of 3.96 and a beta of 0.21. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 1.37.
Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.70. Southern had a net margin of 15.03% and a return on equity of 10.37%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was down 15.1% on a year-over-year basis. Equities research analysts expect that Southern Co will post 3.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Monday, May 20th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.56%. This is an increase from Southern’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, May 17th. Southern’s payout ratio is presently 80.78%.
In other Southern news, CEO William P. Bowers sold 233,477 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $51.29, for a total transaction of $11,975,035.33. Following the completion of the transaction, the chief executive officer now directly owns 354,212 shares in the company, valued at $18,167,533.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christopher C. Womack sold 18,922 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $50.36, for a total transaction of $952,911.92. Following the transaction, the executive vice president now owns 10,165 shares of the company’s stock, valued at $511,909.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 271,035 shares of company stock valued at $13,920,112. 0.73% of the stock is owned by company insiders.
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The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities 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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