Livforsakringsbolaget Skandia Omsesidigt continued to hold its position in shares of Southern Company (The) (NYSE:SO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,876 shares of the utilities provider’s stock at the end of the second quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Southern Company (The) were worth $1,574,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of SO. Pathstone Family Office LLC purchased a new stake in Southern Company (The) during the 1st quarter worth approximately $170,000. Cambridge Investment Research Advisors Inc. increased its stake in Southern Company (The) by 14.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 197,743 shares of the utilities provider’s stock worth $9,844,000 after buying an additional 24,248 shares during the period. AlphaMark Advisors LLC increased its stake in Southern Company (The) by 115.7% during the 1st quarter. AlphaMark Advisors LLC now owns 2,349 shares of the utilities provider’s stock worth $117,000 after buying an additional 1,260 shares during the period. Stifel Financial Corp increased its stake in Southern Company (The) by 5.2% during the 1st quarter. Stifel Financial Corp now owns 1,640,131 shares of the utilities provider’s stock worth $81,543,000 after buying an additional 81,148 shares during the period. Finally, Elkfork Partners LLC increased its stake in Southern Company (The) by 23.9% during the 1st quarter. Elkfork Partners LLC now owns 695,470 shares of the utilities provider’s stock worth $34,620,000 after buying an additional 134,062 shares during the period. Hedge funds and other institutional investors own 53.27% of the company’s stock.
Southern Company (NYSE SO) traded up 0.14% during trading on Friday, reaching $50.47. 3,279,345 shares of the company’s stock traded hands. Southern Company has a 12 month low of $46.20 and a 12 month high of $53.73. The company has a 50-day moving average of $48.78 and a 200 day moving average of $49.47. The stock has a market capitalization of $50.44 billion, a P/E ratio of 83.01 and a beta of 0.13.
Southern Company (The) (NYSE:SO) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.23 billion. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The firm’s revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 EPS. On average, equities research analysts expect that Southern Company will post $2.94 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Monday, August 21st were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date was Thursday, August 17th. Southern Company (The)’s payout ratio is presently 346.27%.
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A number of equities research analysts have commented on SO shares. Zacks Investment Research downgraded shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Morgan Stanley dropped their target price on shares of Southern Company (The) from $53.00 to $51.00 and set an “underweight” rating on the stock in a research report on Friday, June 23rd. BidaskClub cut shares of Southern Company (The) from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Royal Bank Of Canada decreased their price target on shares of Southern Company (The) from $54.00 to $53.00 and set a “sector perform” rating for the company in a research note on Wednesday, June 28th. Finally, Macquarie upgraded shares of Southern Company (The) from a “neutral” rating to an “outperform” rating and set a $52.00 price target for the company in a research note on Monday, July 10th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $49.63.
In related news, EVP Christopher C. Womack sold 75,144 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total value of $3,703,847.76. Following the completion of the sale, the executive vice president now directly owns 85,298 shares in the company, valued at approximately $4,204,338.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.
Southern Company (The) 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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