Spinnaker Trust increased its stake in shares of Southern Company (The) (NYSE:SO) by 6.5% during the first quarter, Holdings Channel reports. The institutional investor owned 8,435 shares of the utilities provider’s stock after buying an additional 514 shares during the period. Spinnaker Trust’s holdings in Southern Company (The) were worth $420,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in SO. Teachers Advisors LLC increased its position in Southern Company (The) by 0.4% in the fourth quarter. Teachers Advisors LLC now owns 1,580,819 shares of the utilities provider’s stock valued at $77,760,000 after buying an additional 6,988 shares in the last quarter. Kentucky Retirement Systems bought a new position in Southern Company (The) during the fourth quarter valued at approximately $3,498,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Southern Company (The) during the fourth quarter valued at approximately $1,561,000. Searle & CO. bought a new position in Southern Company (The) during the fourth quarter valued at approximately $955,000. Finally, Philadelphia Trust Co. increased its position in Southern Company (The) by 4.1% in the fourth quarter. Philadelphia Trust Co. now owns 24,260 shares of the utilities provider’s stock valued at $1,193,000 after buying an additional 950 shares in the last quarter. Hedge funds and other institutional investors own 53.89% of the company’s stock.
Shares of Southern Company (SO) opened at 47.82 on Friday. The company has a market cap of $47.56 billion, a PE ratio of 17.88 and a beta of 0.12. Southern Company has a 52-week low of $46.20 and a 52-week high of $53.80. The company’s 50-day moving average is $48.84 and its 200 day moving average is $49.49.
Southern Company (The) (NYSE:SO) last announced its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.08. Southern Company (The) had a return on equity of 11.37% and a net margin of 12.38%. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.58 billion. During the same quarter last year, the firm posted $0.58 EPS. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. On average, analysts anticipate that Southern Company will post $2.95 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Thursday, August 17th. Southern Company (The)’s payout ratio is presently 85.29%.
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SO has been the topic of several research reports. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 price objective on shares of Southern Company (The) in a report on Thursday, March 30th. Deutsche Bank AG decreased their price objective on shares of Southern Company (The) from $52.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, April 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $56.00 price objective on shares of Southern Company (The) in a report on Wednesday, April 12th. Mizuho reiterated a “neutral” rating and issued a $49.50 price objective on shares of Southern Company (The) in a report on Wednesday, April 19th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $56.00 price objective (up from $53.00) on shares of Southern Company (The) in a report on Sunday, April 23rd. Six analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $51.35.
In other Southern Company (The) news, CEO Mark Lantrip sold 25,000 shares of Southern Company (The) stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $51.50, for a total transaction of $1,287,500.00. Following the completion of the transaction, the chief executive officer now owns 31,080 shares of the company’s stock, valued at approximately $1,600,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James Y. Kerr II sold 68,609 shares of Southern Company (The) stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $50.05, for a total value of $3,433,880.45. Following the transaction, the vice president now directly owns 69,609 shares of the company’s stock, valued at approximately $3,483,930.45. The disclosure for this sale can be found here. Insiders have sold a total of 145,549 shares of company stock valued at $7,395,190 in the last ninety days. Insiders own 1.00% of the company’s stock.
About Southern Company (The)
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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