Stokes & Hubbell Capital Management LLC lifted its position in Southern Company (The) (NYSE:SO) by 41.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,944 shares of the utilities provider’s stock after acquiring an additional 7,642 shares during the period. Stokes & Hubbell Capital Management LLC’s holdings in Southern were worth $1,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of SO. BlackRock Inc. raised its stake in shares of Southern by 2,961.9% during the 1st quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock worth $3,089,736,000 after buying an additional 60,040,696 shares in the last quarter. Janus Henderson Group PLC increased its stake in Southern by 3,580.1% in the 2nd quarter. Janus Henderson Group PLC now owns 4,673,498 shares of the utilities provider’s stock valued at $223,766,000 after purchasing an additional 4,546,503 shares in the last quarter. Capital Research Global Investors increased its stake in Southern by 25.3% in the 2nd quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after purchasing an additional 3,015,226 shares in the last quarter. Vanguard Group Inc. grew its holdings in Southern by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 68,758,138 shares of the utilities provider’s stock valued at $3,422,780,000 after buying an additional 2,688,854 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Southern by 3.6% during the 2nd quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock valued at $1,071,547,000 after buying an additional 770,413 shares during the last quarter. 53.78% of the stock is currently owned by hedge funds and other institutional investors.
SO has been the topic of several analyst reports. BidaskClub cut Southern from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. J P Morgan Chase & Co started coverage on Southern in a research report on Tuesday, August 8th. They issued an “overweight” rating and a $16.78 price objective on the stock. Royal Bank Of Canada raised Southern from a “sector perform” rating to an “outperform” rating and set a $53.00 price objective on the stock in a research report on Friday, September 29th. Morgan Stanley set a $50.00 price target on Southern and gave the stock a “sell” rating in a research note on Thursday, August 10th. Finally, Jefferies Group reiterated a “buy” rating and issued a $56.00 price target (up from $55.00) on shares of Southern in a research note on Tuesday, September 12th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. Southern has a consensus rating of “Hold” and an average price target of $49.72.
Shares of Southern Company (NYSE:SO) traded up $0.53 during trading hours on Wednesday, hitting $50.89. 4,041,575 shares of the company were exchanged, compared to its average volume of 4,676,240. The firm has a market capitalization of $50,780.00, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 4.54 and a beta of 0.13. Southern Company has a fifty-two week low of $46.58 and a fifty-two week high of $53.51. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.73.
Southern (NYSE:SO) last released its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.16 billion. Southern had a net margin of 2.59% and a return on equity of 10.81%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.27 earnings per share. equities analysts predict that Southern Company will post 2.95 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Monday, November 20th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Friday, November 17th. Southern’s payout ratio is presently 414.29%.
In related news, insider Ann P. Daiss sold 5,000 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $52.28, for a total transaction of $261,400.00. Following the transaction, the insider now owns 7,394 shares in the company, valued at approximately $386,558.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William P. Bowers sold 85,151 shares of the company’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total transaction of $4,257,550.00. The disclosure for this sale can be found here. Insiders sold a total of 213,813 shares of company stock valued at $11,029,988 over the last 90 days. Corporate insiders own 0.74% of the company’s stock.
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Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
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