Trust Co. of Vermont lessened its stake in Southern Co (NYSE:SO) by 51.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,965 shares of the utilities provider’s stock after selling 18,819 shares during the quarter. Trust Co. of Vermont’s holdings in Southern were worth $802,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Sciencast Management LP lifted its holdings in shares of Southern by 34.0% in the first quarter. Sciencast Management LP now owns 13,412 shares of the utilities provider’s stock valued at $615,000 after purchasing an additional 3,400 shares in the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Southern by 260.7% in the fourth quarter. WINTON GROUP Ltd now owns 158,362 shares of the utilities provider’s stock valued at $7,616,000 after purchasing an additional 114,456 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Southern by 19.2% during the fourth quarter. Mackenzie Financial Corp now owns 16,352 shares of the utilities provider’s stock worth $786,000 after acquiring an additional 2,635 shares during the period. Macquarie Group Ltd. lifted its holdings in Southern by 18.2% during the fourth quarter. Macquarie Group Ltd. now owns 366,026 shares of the utilities provider’s stock worth $4,097,000 after acquiring an additional 56,426 shares during the period. Finally, CWA Asset Management Group LLC lifted its holdings in Southern by 6.8% during the fourth quarter. CWA Asset Management Group LLC now owns 91,880 shares of the utilities provider’s stock worth $4,418,000 after acquiring an additional 5,890 shares during the period. Institutional investors own 56.79% of the company’s stock.
NYSE:SO opened at $45.06 on Wednesday. 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 Co has a 1 year low of $42.38 and a 1 year high of $53.51. The firm has a market capitalization of $45.09 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 3.41 and a beta of 0.03.
Southern (NYSE:SO) last released its earnings results on Wednesday, May 2nd. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.04. Southern had a return on equity of 12.97% and a net margin of 4.88%. The business had revenue of $6.37 billion during the quarter, compared to the consensus estimate of $5.98 billion. During the same period last year, the business posted $0.66 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. equities research analysts predict that Southern Co will post 2.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 6th. Shareholders of record on Monday, May 21st were given a $0.60 dividend. This is an increase from Southern’s previous quarterly dividend of $0.58. This represents a $2.40 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date was Friday, May 18th. Southern’s dividend payout ratio (DPR) is currently 79.47%.
A number of brokerages recently commented on SO. Zacks Investment Research upgraded Southern from a “sell” rating to a “hold” rating in a report on Tuesday, May 1st. Credit Suisse Group lifted their price target on Southern to $45.00 and gave the stock a “neutral” rating in a report on Monday, May 7th. JPMorgan Chase & Co. lifted their price target on Southern from $43.00 to $45.00 and gave the stock an “underweight” rating in a report on Tuesday, April 10th. TheStreet lowered Southern from a “b-” rating to a “c” rating in a report on Monday, March 26th. Finally, Morgan Stanley lifted their price target on Southern from $44.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, April 16th. Six analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $48.90.
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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