NBT Bank N A NY trimmed its position in The Southern Company (NYSE:SO) by 6.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,766 shares of the utilities provider’s stock after selling 2,133 shares during the period. NBT Bank N A NY’s holdings in The Southern were worth $1,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpha DNA Investment Management LLC purchased a new stake in The Southern in the fourth quarter valued at $26,000. Retirement Group LLC purchased a new stake in shares of The Southern during the 4th quarter worth about $27,000. ShoreHaven Wealth Partners LLC purchased a new stake in shares of The Southern during the 4th quarter worth about $29,000. Simon Quick Advisors LLC purchased a new stake in shares of The Southern during the 4th quarter worth about $31,000. Finally, Flagship Private Wealth LLC purchased a new stake in shares of The Southern during the 4th quarter worth about $31,000. 57.62% of the stock is currently owned by hedge funds and other institutional investors.
SO has been the topic of a number of research reports. Scotiabank raised shares of The Southern from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $66.00 to $75.00 in a research note on Tuesday, December 15th. Wells Fargo & Company increased their price objective on shares of The Southern from $67.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, March 31st. Morgan Stanley increased their price objective on shares of The Southern from $55.00 to $57.00 and gave the company an “underweight” rating in a report on Thursday, March 25th. Bank of America upgraded shares of The Southern from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a report on Tuesday, January 19th. Finally, Zacks Investment Research upgraded shares of The Southern from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Thursday, January 14th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The Southern presently has a consensus rating of “Hold” and an average price target of $64.60.
Shares of SO stock opened at $62.73 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.90 and a debt-to-equity ratio of 1.40. The Southern Company has a 52 week low of $50.40 and a 52 week high of $64.93. The stock has a market capitalization of $66.28 billion, a PE ratio of 20.91, a P/E/G ratio of 3.56 and a beta of 0.39. The firm has a 50 day moving average of $60.04 and a two-hundred day moving average of $59.80.
The Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, February 17th. The utilities provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The Southern had a net margin of 15.80% and a return on equity of 10.08%. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period in the previous year, the business posted $0.27 earnings per share. Analysts expect that The Southern Company will post 3.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 8th. Stockholders of record on Tuesday, February 16th were paid a dividend of $0.64 per share. The ex-dividend date was Friday, February 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.08%. The Southern’s dividend payout ratio (DPR) is 82.32%.
The Southern Profile
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 and battery energy storage projects 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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