Altium Wealth Management LLC lessened its stake in shares of Southern Co (NYSE:SO) by 15.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,163 shares of the utilities provider’s stock after selling 1,271 shares during the period. Altium Wealth Management LLC’s holdings in Southern were worth $388,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Keebeck Wealth Management LLC purchased a new position in Southern during the second quarter valued at approximately $29,000. Legacy Bridge LLC purchased a new position in Southern during the second quarter valued at approximately $31,000. MV Capital Management Inc. increased its holdings in Southern by 562.0% during the second quarter. MV Capital Management Inc. now owns 662 shares of the utilities provider’s stock valued at $34,000 after buying an additional 562 shares during the period. Demars Financial Group LLC purchased a new position in Southern during the second quarter valued at approximately $36,000. Finally, Rockbridge Investment Management LCC purchased a new position in Southern during the second quarter valued at approximately $44,000. 57.29% of the stock is currently owned by institutional investors.
Several research firms have issued reports on SO. Morgan Stanley lifted their price target on shares of Southern from $57.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, October 20th. UBS Group cut their price target on shares of Southern from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, September 1st. Mizuho lowered shares of Southern from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $53.00 to $48.00 in a report on Thursday, September 10th. Barclays raised shares of Southern from an “equal weight” rating to an “overweight” rating and set a $61.00 price target on the stock in a report on Monday, September 21st. Finally, KeyCorp lifted their price target on shares of Southern from $65.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Southern presently has an average rating of “Hold” and an average price target of $62.17.
NYSE SO opened at $60.21 on Wednesday. The company has a market capitalization of $63.59 billion, a PE ratio of 19.55, a P/E/G ratio of 4.58 and a beta of 0.38. The company has a fifty day moving average of $55.79 and a 200 day moving average of $55.04. Southern Co has a 1 year low of $41.96 and a 1 year high of $71.10. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.97 and a quick ratio of 0.75.
Southern (NYSE:SO) last posted its earnings results on Thursday, July 30th. The utilities provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The company had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.93 billion. Southern had a net margin of 15.83% and a return on equity of 10.47%. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. Research analysts expect that Southern Co will post 3.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 16th will be given a dividend of $0.64 per share. The ex-dividend date is Friday, November 13th. This represents a $2.56 dividend on an annualized basis and a yield of 4.25%. Southern’s dividend payout ratio is presently 82.32%.
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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