Tiedemann Wealth Management LLC lifted its stake in Southern Company (The) (NYSE:SO) by 13.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 108,702 shares of the utilities provider’s stock after purchasing an additional 12,557 shares during the quarter. Tiedemann Wealth Management LLC’s holdings in Southern were worth $5,082,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. AlphaMark Advisors LLC boosted its holdings in shares of Southern by 0.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 14 shares during the period. South Texas Money Management Ltd. boosted its holdings in Southern by 0.3% during the 2nd quarter. South Texas Money Management Ltd. now owns 7,084 shares of the utilities provider’s stock valued at $339,000 after acquiring an additional 19 shares during the period. WMS Partners LLC boosted its holdings in Southern by 0.6% during the 2nd quarter. WMS Partners LLC now owns 4,387 shares of the utilities provider’s stock valued at $210,000 after acquiring an additional 25 shares during the period. Regal Investment Advisors LLC boosted its holdings in Southern by 0.4% during the 1st quarter. Regal Investment Advisors LLC now owns 7,990 shares of the utilities provider’s stock valued at $398,000 after acquiring an additional 29 shares during the period. Finally, Sfmg LLC boosted its holdings in Southern by 0.5% during the 2nd quarter. Sfmg LLC now owns 6,435 shares of the utilities provider’s stock valued at $308,000 after acquiring an additional 29 shares during the period. Hedge funds and other institutional investors own 53.78% of the company’s stock.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Southern from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Tuesday, December 12th. Mizuho restated a “buy” rating and set a $55.00 price objective on shares of Southern in a report on Friday, December 8th. Bank of America restated an “underperform” rating and set a $51.00 price objective on shares of Southern in a report on Tuesday, October 24th. SunTrust Banks restated a “hold” rating and set a $52.00 price objective on shares of Southern in a report on Friday, October 20th. Finally, Citigroup restated a “sell” rating and set a $44.00 price objective (up previously from $43.00) on shares of Southern in a report on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $49.92.
Southern (NYSE:SO) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The business had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.16 billion. Southern had a return on equity of 10.81% and a net margin of 2.59%. Southern’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 EPS. equities research analysts anticipate that Southern Company will post 2.95 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Friday, November 17th. Southern’s dividend payout ratio (DPR) is presently 414.29%.
In other news, CEO William P. Bowers sold 85,151 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total value of $4,257,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James Y. Kerr II sold 25,000 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $52.16, for a total value of $1,304,000.00. Following the completion of the transaction, the vice president now directly owns 26,000 shares of the company’s stock, valued at $1,356,160. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 213,813 shares of company stock valued at $11,029,988. 1.00% of the stock is currently owned by corporate insiders.
Southern Company 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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