Nichols & Pratt Advisers LLP MA grew its stake in shares of Southern Co (NYSE:SO) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 250,141 shares of the utilities provider’s stock after acquiring an additional 3,500 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in Southern were worth $10,906,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Southern by 43.1% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 309,204 shares of the utilities provider’s stock valued at $13,481,000 after acquiring an additional 93,110 shares in the last quarter. Gulf International Bank UK Ltd grew its holdings in shares of Southern by 1.6% during the 3rd quarter. Gulf International Bank UK Ltd now owns 338,426 shares of the utilities provider’s stock valued at $14,755,000 after acquiring an additional 5,293 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Southern during the 3rd quarter valued at $224,000. American Century Companies Inc. lifted its stake in shares of Southern by 6.8% in the 3rd quarter. American Century Companies Inc. now owns 444,175 shares of the utilities provider’s stock valued at $19,366,000 after purchasing an additional 28,452 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. lifted its stake in shares of Southern by 11.5% in the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 27,664 shares of the utilities provider’s stock valued at $1,206,000 after purchasing an additional 2,862 shares during the last quarter. Institutional investors and hedge funds own 57.42% of the company’s stock.
SO has been the subject of several analyst reports. Bank of America raised shares of Southern from an “underperform” rating to a “neutral” rating and set a $46.00 price objective for the company in a research note on Wednesday, October 10th. Morgan Stanley reduced their price objective on shares of Southern from $45.00 to $44.00 and set a “sell” rating for the company in a research note on Friday, September 21st. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Tuesday, October 9th. Citigroup lowered shares of Southern from a “neutral” rating to a “sell” rating and set a $45.00 price objective for the company. in a research note on Wednesday, August 8th. Finally, Evercore ISI lowered shares of Southern from an “in-line” rating to an “underperform” rating in a research note on Thursday, August 9th. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $46.11.
Southern (NYSE:SO) last released its earnings results on Wednesday, August 8th. The utilities provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.11. The firm had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.28 billion. Southern had a net margin of 9.96% and a return on equity of 13.06%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.73 EPS. Equities analysts forecast that Southern Co will post 3.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Monday, November 19th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend is Friday, November 16th. Southern’s dividend payout ratio is 79.47%.
In other Southern news, EVP Christopher C. Womack sold 16,371 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $47.40, for a total transaction of $775,985.40. Following the completion of the transaction, the executive vice president now owns 10,165 shares of the company’s stock, valued at approximately $481,821. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is owned by insiders.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.
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