Advisory Services Network LLC raised its stake in shares of Southern Co. (NYSE:SO) by 9.2% during the second quarter, Holdings Channel reports. The firm owned 26,275 shares of the company’s stock after buying an additional 2,211 shares during the period. Advisory Services Network LLC’s holdings in Southern were worth $1,409,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. MCF Advisors LLC raised its position in Southern by 89.2% in the first quarter. MCF Advisors LLC now owns 2,543 shares of the company’s stock valued at $132,000 after buying an additional 1,199 shares during the period. Zions Bancorporation raised its position in Southern by 1.3% in the first quarter. Zions Bancorporation now owns 2,559 shares of the company’s stock valued at $132,000 after buying an additional 32 shares during the period. Barnett & Company Inc. acquired a new position in Southern during the first quarter valued at approximately $155,000. First New York Securities LLC NY acquired a new position in Southern during the second quarter valued at approximately $166,000. Finally, Cribstone Capital Management LLC acquired a new position in Southern during the second quarter valued at approximately $184,000. Institutional investors and hedge funds own 48.64% of the company’s stock.
Southern Co. (NYSE:SO) traded down 0.64% on Wednesday, reaching $49.52. 5,617,546 shares of the company’s stock were exchanged. The stock has a market cap of $46.63 billion, a price-to-earnings ratio of 19.66 and a beta of 0.08. The firm has a 50 day moving average of $51.81 and a 200-day moving average of $51.41. Southern Co. has a one year low of $43.38 and a one year high of $54.64.
Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.54 billion. Southern had a net margin of 13.77% and a return on equity of 12.50%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. Equities research analysts forecast that Southern Co. will post $2.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 15th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $2.24 dividend on an annualized basis and a yield of 4.52%. Southern’s dividend payout ratio (DPR) is presently 87.50%.
Several equities analysts have commented on the stock. Jefferies Group reiterated a “hold” rating on shares of Southern in a research report on Monday, July 11th. Argus reissued a “buy” rating on shares of Southern in a research note on Wednesday, June 15th. Mizuho reissued a “hold” rating and issued a $50.00 target price on shares of Southern in a research note on Monday, July 11th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $54.00 target price on shares of Southern in a research note on Thursday, July 14th. Finally, Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Tuesday, September 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $53.50.
In other Southern news, CEO Stan W. Connally sold 14,392 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $53.75, for a total transaction of $773,570.00. Following the sale, the chief executive officer now directly owns 17,716 shares in the company, valued at $952,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher C. Womack sold 46,008 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $53.40, for a total transaction of $2,456,827.20. Following the sale, the executive vice president now owns 56,149 shares in the company, valued at $2,998,356.60. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.
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