AE Wealth Management LLC increased its holdings in shares of Southern Company (The) (NYSE:SO) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,157 shares of the utilities provider’s stock after acquiring an additional 2,477 shares during the quarter. AE Wealth Management LLC’s holdings in Southern were worth $2,661,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Chicago Partners Investment Group LLC acquired a new position in Southern in the 2nd quarter valued at $100,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Southern in the 3rd quarter valued at $105,000. Monroe Bank & Trust MI grew its holdings in Southern by 17.9% in the 2nd quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock valued at $110,000 after buying an additional 350 shares in the last quarter. AlphaMark Advisors LLC grew its holdings in Southern by 0.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock valued at $113,000 after buying an additional 14 shares in the last quarter. Finally, IHT Wealth Management LLC grew its holdings in Southern by 15.3% in the 1st quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock valued at $115,000 after buying an additional 302 shares in the last quarter. 53.78% of the stock is currently owned by institutional investors and hedge funds.
Southern Company (SO) traded down $0.27 during trading hours on Monday, hitting $51.06. The stock had a trading volume of 4,791,300 shares, compared to its average volume of 4,685,004. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.73. Southern Company has a 1 year low of $46.71 and a 1 year high of $53.51. The company has a market cap of $51,245.25, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 3.84 and a beta of 0.13.
Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.04. Southern had a return on equity of 10.81% and a net margin of 2.59%. The business had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same period in the prior year, the company earned $1.27 EPS. Southern’s revenue for the quarter was down 1.0% on a year-over-year basis. analysts expect that Southern Company will post 2.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 6th. Investors of record on Monday, November 20th were given a dividend of $0.58 per share. The ex-dividend date was Friday, November 17th. This represents a $2.32 annualized dividend and a dividend yield of 4.54%. Southern’s dividend payout ratio is currently 414.29%.
In related news, insider Ann P. Daiss sold 5,000 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $52.28, for a total transaction of $261,400.00. Following the completion of the sale, the insider now directly owns 7,394 shares in the company, valued at approximately $386,558.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ann P. Daiss sold 5,080 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $53.28, for a total value of $270,662.40. Following the sale, the insider now owns 7,474 shares of the company’s stock, valued at $398,214.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 213,813 shares of company stock valued at $11,029,988. 0.74% of the stock is owned by corporate insiders.
A number of brokerages have commented on SO. Mizuho reiterated a “buy” rating and set a $55.00 target price on shares of Southern in a research report on Friday. Royal Bank Of Canada upgraded Southern from a “sector perform” rating to an “outperform” rating and set a $53.00 target price for the company in a research report on Friday, September 29th. BidaskClub upgraded Southern from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Citigroup reiterated a “sell” rating and set a $44.00 target price (up from $43.00) on shares of Southern in a research report on Tuesday, October 3rd. Finally, Guggenheim upgraded Southern from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $56.00 in a research report on Thursday, September 14th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Southern has a consensus rating of “Hold” and a consensus target price of $49.85.
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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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