Southern Co (NYSE:SO) saw a large growth in short interest in the month of December. As of December 29th, there was short interest totalling 28,105,080 shares, a growth of 25.0% from the December 15th total of 22,476,645 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily trading volume, of 5,861,720 shares, the days-to-cover ratio is presently 4.8 days.
A number of hedge funds and other institutional investors have recently modified their holdings of SO. Chicago Partners Investment Group LLC acquired a new stake in Southern in the 2nd quarter valued at about $100,000. Taylor Hoffman Wealth Management purchased a new position in Southern in the 4th quarter valued at about $104,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Southern in the 3rd quarter valued at about $105,000. Monroe Bank & Trust MI lifted its holdings in Southern by 17.9% in the 2nd quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 350 shares in the last quarter. Finally, AlphaMark Advisors LLC lifted its holdings in Southern by 0.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 14 shares in the last quarter. 53.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Southern (NYSE:SO) traded up $0.92 during midday trading on Friday, reaching $44.33. 11,020,000 shares of the company were exchanged, compared to its average volume of 8,190,000. The firm has a market cap of $44,490.00, a PE ratio of 79.16, a price-to-earnings-growth ratio of 3.29 and a beta of 0.03. Southern has a 12-month low of $42.63 and a 12-month high of $53.51. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th will be paid a $0.58 dividend. The ex-dividend date is Friday, February 16th. This represents a $2.32 dividend on an annualized basis and a yield of 5.23%. Southern’s payout ratio is 414.29%.
Several equities analysts have issued reports on SO shares. SunTrust Banks reissued a “hold” rating and issued a $52.00 price objective on shares of Southern in a research note on Friday, October 20th. Bank of America reissued an “underperform” rating and issued a $51.00 price objective on shares of Southern in a research note on Tuesday, October 24th. Zacks Investment Research cut shares of Southern from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Mizuho reaffirmed a “buy” rating and set a $55.00 price target on shares of Southern in a research note on Friday, December 8th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Southern in a research note on Friday, December 22nd. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $50.50.
ILLEGAL ACTIVITY WARNING: “Southern Co (NYSE:SO) Short Interest Up 25.0% in December” was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another domain, it was copied illegally and reposted in violation of US and international copyright legislation. The original version of this news story can be viewed at https://ledgergazette.com/2018/02/12/southern-co-so-short-interest-up-25-0-in-december.html.
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.
Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.