Pinnacle Bank raised its stake in shares of Southern Co (NYSE:SO) by 31.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,486 shares of the utilities provider’s stock after purchasing an additional 1,315 shares during the quarter. Pinnacle Bank’s holdings in Southern were worth $284,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Farr Miller & Washington LLC DC acquired a new position in shares of Southern in the 1st quarter valued at $434,000. Private Asset Management Inc. raised its position in Southern by 4.1% in the second quarter. Private Asset Management Inc. now owns 55,661 shares of the utilities provider’s stock worth $2,886,000 after purchasing an additional 2,177 shares in the last quarter. Amalgamated Bank lifted its stake in Southern by 8.5% during the fourth quarter. Amalgamated Bank now owns 158,865 shares of the utilities provider’s stock worth $10,120,000 after purchasing an additional 12,446 shares during the period. M&G Investment Management Ltd. grew its stake in shares of Southern by 421.9% in the 1st quarter. M&G Investment Management Ltd. now owns 20,791 shares of the utilities provider’s stock valued at $1,123,000 after purchasing an additional 16,807 shares during the period. Finally, CX Institutional lifted its position in shares of Southern by 5,946.0% during the 1st quarter. CX Institutional now owns 24,063 shares of the utilities provider’s stock worth $1,303,000 after buying an additional 23,665 shares during the period. 58.89% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:SO traded down $0.02 during midday trading on Tuesday, reaching $52.59. The company’s stock had a trading volume of 1,562,767 shares, compared to its average volume of 5,154,700. The firm has a 50 day moving average price of $55.04 and a two-hundred day moving average price of $59.66. The firm has a market capitalization of $55.80 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 4.19 and a beta of 0.42. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.78 and a current ratio of 0.99. Southern Co has a fifty-two week low of $41.96 and a fifty-two week high of $71.10.
Southern (NYSE:SO) last released its earnings results on Thursday, April 30th. The utilities provider reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.07. Southern had a return on equity of 10.57% and a net margin of 16.83%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.45 billion. During the same period in the previous year, the business posted $0.70 EPS. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. As a group, research analysts anticipate that Southern Co will post 3.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, May 18th were issued a $0.64 dividend. The ex-dividend date was Friday, May 15th. This is a positive change from Southern’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a yield of 4.87%. Southern’s dividend payout ratio (DPR) is 82.32%.
Several research firms have weighed in on SO. Wolfe Research upgraded shares of Southern from an “underperform” rating to a “market perform” rating in a research report on Thursday, March 12th. UBS Group lowered Southern from a “neutral” rating to a “sell” rating and increased their price objective for the company from $54.00 to $63.00 in a research report on Thursday, May 21st. Argus raised Southern from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Monday, April 13th. Seaport Global Securities began coverage on Southern in a research report on Wednesday, May 20th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Southern from a “buy” rating to a “hold” rating and set a $59.00 target price on the stock. in a research report on Tuesday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $61.97.
In related news, Director Ernest J. Moniz bought 3,500 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was purchased at an average price of $54.72 per share, for a total transaction of $191,520.00. Following the completion of the transaction, the director now owns 3,500 shares in the company, valued at $191,520. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen E. Kuczynski sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $54.47, for a total value of $108,940.00. Following the transaction, the chief executive officer now owns 83,996 shares of the company’s stock, valued at approximately $4,575,262.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,500 shares of company stock valued at $3,227,590. 0.39% of the stock is owned by company insiders.
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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