Cullinan Associates Inc. increased its position in shares of Southern Co (NYSE:SO) by 48.7% in the 4th quarter, HoldingsChannel reports. The firm owned 6,720 shares of the utilities provider’s stock after purchasing an additional 2,200 shares during the period. Cullinan Associates Inc.’s holdings in Southern were worth $428,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lenox Wealth Advisors LLC purchased a new position in Southern during the third quarter worth about $25,000. KCS Wealth Advisory purchased a new position in Southern during the third quarter worth about $25,000. Salomon & Ludwin LLC purchased a new position in Southern in the second quarter valued at about $29,000. Venturi Wealth Management LLC purchased a new position in Southern in the third quarter valued at about $34,000. Finally, Alpha Windward LLC purchased a new position in Southern in the fourth quarter valued at about $36,000. 58.97% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on SO shares. Evercore ISI reaffirmed a “hold” rating and issued a $63.50 target price on shares of Southern in a report on Sunday, December 15th. SunTrust Banks increased their target price on shares of Southern from $60.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Credit Suisse Group increased their target price on shares of Southern from $60.00 to $64.00 and gave the company an “underperform” rating in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Southern from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. Five investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Southern currently has an average rating of “Hold” and a consensus price target of $59.77.
Shares of Southern stock opened at $65.58 on Thursday. Southern Co has a 12-month low of $46.26 and a 12-month high of $65.70. The company has a current ratio of 0.94, a quick ratio of 0.77 and a debt-to-equity ratio of 1.37. The stock has a market cap of $68.08 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 4.54 and a beta of 0.15. The company has a 50-day moving average of $62.75 and a two-hundred day moving average of $60.16.
Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.14 by $0.20. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $6.01 billion. Southern had a net margin of 21.02% and a return on equity of 10.52%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 earnings per share. On average, sell-side analysts forecast that Southern Co will post 3.1 EPS for the current fiscal year.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. 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, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.
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