Wells Fargo & Company MN lessened its stake in shares of Southern (NYSE:SO) by 14.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,346,083 shares of the utilities provider’s stock after selling 1,587,682 shares during the period. Wells Fargo & Company MN owned about 0.93% of Southern worth $417,395,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Taylor Hoffman Wealth Management acquired a new stake in Southern during the 4th quarter worth $104,000. We Are One Seven LLC bought a new position in Southern in the 4th quarter valued at approximately $106,000. Global Trust Asset Management LLC bought a new position in Southern in the 4th quarter valued at approximately $170,000. Vantage Investment Advisors LLC lifted its stake in Southern by 65.8% in the 4th quarter. Vantage Investment Advisors LLC now owns 4,172 shares of the utilities provider’s stock valued at $201,000 after purchasing an additional 1,655 shares during the last quarter. Finally, Point View Wealth Management Inc. bought a new position in Southern in the 4th quarter valued at approximately $204,000. Institutional investors own 56.97% of the company’s stock.
SO has been the subject of several research reports. SunTrust Banks set a $45.00 price objective on shares of Southern and gave the company a “hold” rating in a research note on Friday, February 23rd. JPMorgan Chase lifted their target price on shares of Southern from $43.00 to $45.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 10th. TheStreet downgraded shares of Southern from a “b-” rating to a “c” rating in a research note on Monday, March 26th. Zacks Investment Research upgraded shares of Southern from a “sell” rating to a “hold” rating in a research note on Tuesday, May 1st. Finally, Mizuho cut shares of Southern from a “buy” rating to a “neutral” rating and set a $44.50 price objective for the company. in a research note on Tuesday, January 23rd. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Southern has an average rating of “Hold” and an average price target of $49.10.
Southern traded up $0.21, reaching $43.76, during midday trading on Wednesday, Marketbeat reports. The company had a trading volume of 165,512 shares, compared to its average volume of 5,134,224. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.70 and a quick ratio of 0.55. Southern has a 1 year low of $42.38 and a 1 year high of $53.51. The stock has a market cap of $43.94 billion, a PE ratio of 14.46, a P/E/G ratio of 3.34 and a beta of 0.01.
Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, May 2nd. The utilities provider reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.04. The business had revenue of $6.37 billion during the quarter, compared to analysts’ expectations of $5.98 billion. Southern had a net margin of 4.88% and a return on equity of 12.97%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. research analysts expect that Southern will post 2.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 6th. Stockholders of record on Monday, May 21st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.48%. This is a positive change from Southern’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, May 18th. Southern’s payout ratio is presently 79.47%.
Southern Company Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.
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