Hyman Charles D boosted its position in Southern Company (The) (NYSE:SO) by 2.1% during the first quarter, Holdings Channel reports. The fund owned 331,304 shares of the utilities provider’s stock after buying an additional 6,749 shares during the period. Southern Company (The) comprises approximately 2.2% of Hyman Charles D’s investment portfolio, making the stock its 10th largest position. Hyman Charles D’s holdings in Southern Company (The) were worth $16,492,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Koshinski Asset Management Inc. raised its position in shares of Southern Company (The) by 12.2% in the first quarter. Koshinski Asset Management Inc. now owns 5,225 shares of the utilities provider’s stock worth $260,000 after buying an additional 570 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of Southern Company (The) by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 305,652 shares of the utilities provider’s stock worth $15,215,000 after buying an additional 3,700 shares during the last quarter. Chesley Taft & Associates LLC raised its position in shares of Southern Company (The) by 6.8% in the first quarter. Chesley Taft & Associates LLC now owns 10,940 shares of the utilities provider’s stock worth $545,000 after buying an additional 700 shares during the last quarter. Sheets Smith Wealth Management raised its position in shares of Southern Company (The) by 1.1% in the first quarter. Sheets Smith Wealth Management now owns 11,650 shares of the utilities provider’s stock worth $580,000 after buying an additional 128 shares during the last quarter. Finally, Forte Capital LLC ADV raised its position in shares of Southern Company (The) by 5.9% in the first quarter. Forte Capital LLC ADV now owns 11,785 shares of the utilities provider’s stock worth $587,000 after buying an additional 655 shares during the last quarter. 53.82% of the stock is currently owned by institutional investors.
Southern Company (NYSE SO) opened at 49.36 on Friday. Southern Company has a 1-year low of $46.20 and a 1-year high of $53.73. The stock’s 50 day moving average price is $48.60 and its 200 day moving average price is $49.48. The company has a market cap of $49.33 billion, a P/E ratio of 81.18 and a beta of 0.12.
Southern Company (The) (NYSE:SO) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Southern Company (The) had a return on equity of 11.21% and a net margin of 2.93%. Southern Company (The)’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. On average, equities analysts anticipate that Southern Company will post $2.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Monday, August 21st will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Thursday, August 17th. Southern Company (The)’s dividend payout ratio (DPR) is presently 346.27%.
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A number of brokerages have recently weighed in on SO. Zacks Investment Research lowered Southern Company (The) from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Morgan Stanley lowered their target price on 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. Barclays PLC reaffirmed an “overweight” rating and set a $56.00 target price (up from $53.00) on shares of Southern Company (The) in a research report on Sunday, April 23rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Southern Company (The) in a research report on Monday, May 15th. Finally, BidaskClub lowered Southern Company (The) from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Four analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $51.54.
In other Southern Company (The) news, insider Art P. Beattie sold 46,940 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $51.50, for a total transaction of $2,417,410.00. Following the completion of the sale, the insider now owns 59,493 shares of the company’s stock, valued at $3,063,889.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Lantrip sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $51.50, for a total value of $1,287,500.00. Following the sale, the chief executive officer now directly owns 31,080 shares of the company’s stock, valued at approximately $1,600,620. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,940 shares of company stock valued at $3,961,310. 1.00% of the stock is owned by company insiders.
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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