Prime Capital Investment Advisors LLC purchased a new stake in shares of Southern Co (NYSE:SO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 11,950 shares of the utilities provider’s stock, valued at approximately $575,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Iberiabank Corp grew its holdings in Southern by 6.5% during the 3rd quarter. Iberiabank Corp now owns 151,315 shares of the utilities provider’s stock worth $7,437,000 after acquiring an additional 9,232 shares in the last quarter. Confluence Investment Management LLC lifted its position in shares of Southern by 2.8% in the 4th quarter. Confluence Investment Management LLC now owns 2,050,249 shares of the utilities provider’s stock worth $98,596,000 after buying an additional 55,264 shares during the last quarter. Atlantic Trust Group LLC lifted its position in shares of Southern by 13.4% in the 3rd quarter. Atlantic Trust Group LLC now owns 23,732 shares of the utilities provider’s stock worth $1,166,000 after buying an additional 2,804 shares during the last quarter. National Pension Service lifted its position in shares of Southern by 3.7% in the 4th quarter. National Pension Service now owns 842,651 shares of the utilities provider’s stock worth $40,523,000 after buying an additional 30,381 shares during the last quarter. Finally, Synovus Financial Corp lifted its position in shares of Southern by 7.2% in the 3rd quarter. Synovus Financial Corp now owns 931,263 shares of the utilities provider’s stock worth $45,761,000 after buying an additional 62,321 shares during the last quarter. 56.44% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on SO shares. Mizuho restated a “buy” rating and issued a $52.00 price target on shares of Southern in a research report on Tuesday, December 26th. Royal Bank of Canada reiterated a “buy” rating on shares of Southern in a research report on Friday, December 22nd. Zacks Investment Research upgraded shares of Southern from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Tuesday, December 12th. Guggenheim reiterated a “buy” rating and issued a $52.00 price objective on shares of Southern in a research report on Wednesday, January 3rd. Finally, Deutsche Bank cut their price objective on shares of Southern from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.41.
Southern Co (NYSE SO) traded up $0.26 during mid-day trading on Friday, hitting $44.19. 9,154,489 shares of the company’s stock were exchanged, compared to its average volume of 6,545,199. Southern Co has a one year low of $42.38 and a one year high of $53.51. The company has a market cap of $44,288.43, a P/E ratio of 51.99, a price-to-earnings-growth ratio of 3.36 and a beta of 0.07. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.74 and a quick ratio of 0.59.
Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. Southern had a net margin of 3.82% and a return on equity of 11.96%. The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the previous year, the firm earned $0.24 EPS. Southern’s revenue was up 8.6% on a year-over-year basis. sell-side analysts anticipate that Southern Co will post 2.9 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.58 per share. The ex-dividend date was Friday, February 16th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.25%. Southern’s dividend payout ratio (DPR) is 272.94%.
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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