DT Investment Partners LLC boosted its stake in shares of Southern Co. (NYSE:SO) by 25.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,583 shares of the company’s stock after buying an additional 3,945 shares during the period. Southern comprises approximately 0.3% of DT Investment Partners LLC’s investment portfolio, making the stock its 25th largest position. DT Investment Partners LLC’s holdings in Southern were worth $1,050,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of SO. Zions Bancorporation increased its stake in shares of 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. bought a new stake in shares of Southern during the first quarter valued at $155,000. First New York Securities LLC NY bought a new stake in shares of Southern during the second quarter valued at $166,000. Cribstone Capital Management LLC bought a new stake in shares of Southern during the second quarter valued at $184,000. Finally, Montrusco Bolton Investments Inc. increased its stake in shares of Southern by 0.5% in the second quarter. Montrusco Bolton Investments Inc. now owns 3,880 shares of the company’s stock valued at $208,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 48.64% of the company’s stock.
Southern Co. (NYSE:SO) traded up 0.79% during mid-day trading on Tuesday, reaching $51.09. The company’s stock had a trading volume of 4,333,342 shares. The stock has a market capitalization of $48.11 billion, a price-to-earnings ratio of 20.28 and a beta of 0.08. The firm has a 50-day moving average of $51.40 and a 200-day moving average of $51.36. Southern Co. has a 52 week low of $43.38 and a 52 week high of $54.64.
Southern (NYSE:SO) last announced its 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. Southern had a return on equity of 12.50% and a net margin of 13.77%. The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the company earned $0.71 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that Southern Co. will post $2.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Monday, November 21st will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Thursday, November 17th. Southern’s payout ratio is 87.50%.
Several equities research analysts have weighed in on the company. Mizuho restated a “hold” rating and set a $50.00 price target on shares of Southern in a report on Monday, July 11th. Jefferies Group reiterated a “hold” rating on shares of Southern in a report on Monday, July 11th. SunTrust Banks Inc. increased their price objective on Southern from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, September 26th. Zacks Investment Research upgraded Southern from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Tuesday, September 27th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $54.00 price objective on shares of Southern in a report on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.50.
In related news, CEO Stan W. Connally sold 14,392 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $53.75, for a total value of $773,570.00. Following the completion of the sale, the chief executive officer now directly owns 17,716 shares of the company’s stock, valued at $952,235. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark A. Crosswhite sold 167,273 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $53.30, for a total value of $8,915,650.90. Following the completion of the sale, the chief executive officer now directly owns 171,983 shares of the company’s stock, valued at $9,166,693.90. The disclosure for this sale can be found here. 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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