Toth Financial Advisory Corp increased its stake in shares of Southern Co (NYSE:SO) by 55.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,052 shares of the utilities provider’s stock after buying an additional 377 shares during the quarter. Toth Financial Advisory Corp’s holdings in Southern were worth $54,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Southern by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 10,620,343 shares of the utilities provider’s stock worth $463,048,000 after buying an additional 193,771 shares during the period. Paloma Partners Management Co purchased a new position in shares of Southern in the third quarter valued at approximately $871,000. Man Group plc boosted its stake in shares of Southern by 61.2% in the third quarter. Man Group plc now owns 433,532 shares of the utilities provider’s stock valued at $18,903,000 after purchasing an additional 164,541 shares during the period. Verition Fund Management LLC purchased a new position in shares of Southern in the third quarter valued at approximately $1,005,000. Finally, Putnam Investments LLC boosted its stake in shares of Southern by 67.3% in the third quarter. Putnam Investments LLC now owns 120,863 shares of the utilities provider’s stock valued at $5,270,000 after purchasing an additional 48,617 shares during the period. Institutional investors and hedge funds own 56.89% of the company’s stock.
Shares of NYSE:SO opened at $52.39 on Wednesday. The company has a market capitalization of $54.53 billion, a P/E ratio of 17.07, a PEG ratio of 3.86 and a beta of 0.20. Southern Co has a fifty-two week low of $42.42 and a fifty-two week high of $52.98. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.54 and a current ratio of 0.67.
Southern (NYSE:SO) last issued its earnings results on Wednesday, February 20th. The utilities provider reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The firm had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $4.88 billion. Southern had a net margin of 9.54% and a return on equity of 11.39%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. As a group, analysts predict that Southern Co will post 3.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be issued a $0.62 dividend. This is a boost from Southern’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, May 17th. This represents a $2.48 annualized dividend and a yield of 4.73%. Southern’s dividend payout ratio (DPR) is 78.18%.
In other Southern news, CEO William P. Bowers sold 233,477 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $51.29, for a total transaction of $11,975,035.33. Following the sale, the chief executive officer now owns 354,212 shares of the company’s stock, valued at $18,167,533.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William P. Bowers sold 90,942 shares of the firm’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $48.60, for a total transaction of $4,419,781.20. Following the sale, the chief executive officer now directly owns 177,043 shares in the company, valued at approximately $8,604,289.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,341 shares of company stock worth $19,342,988. 0.73% of the stock is owned by corporate insiders.
Several research analysts have recently commented on the stock. ValuEngine lowered shares of Southern from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. SunTrust Banks reissued a “hold” rating and issued a $52.00 price objective on shares of Southern in a research note on Monday, February 25th. reissued a “sell” rating on shares of Southern in a research note on Wednesday, February 13th. reissued a “sell” rating on shares of Southern in a research note on Wednesday, February 13th. Finally, Citigroup raised shares of Southern from a “sell” rating to a “neutral” rating and raised their price objective for the company from $45.00 to $50.00 in a research note on Thursday, January 24th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. Southern has a consensus rating of “Hold” and a consensus target price of $47.15.
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Southern Company 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 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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