Oakbrook Investments LLC cut its position in shares of Southern Co (NYSE:SO) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,379 shares of the utilities provider’s stock after selling 3,500 shares during the quarter. Oakbrook Investments LLC’s holdings in Southern were worth $1,749,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC bought a new position in Southern during the second quarter worth about $100,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Southern during the third quarter worth about $105,000. Monroe Bank & Trust MI lifted its stake in Southern by 17.9% during the second quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 350 shares during the period. AlphaMark Advisors LLC lifted its stake in Southern by 0.6% during the second 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. Finally, Fieldpoint Private Securities LLC bought a new position in Southern during the third quarter worth about $118,000. 53.68% of the stock is currently owned by institutional investors and hedge funds.
Southern Co (SO) opened at $44.90 on Friday. Southern Co has a one year low of $44.26 and a one year high of $53.51. The company has a quick ratio of 0.57, a current ratio of 0.73 and a debt-to-equity ratio of 1.73. The stock has a market cap of $45,213.44, a P/E ratio of 80.18, a PEG ratio of 3.34 and a beta of 0.14.
Southern (NYSE:SO) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Southern had a net margin of 2.59% and a return on equity of 10.81%. The company had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter in the previous year, the company posted $1.27 earnings per share. Southern’s quarterly revenue was down 1.0% compared to the same quarter last year. sell-side analysts forecast that Southern Co will post 2.96 EPS for the current fiscal year.
In related news, insider Ann P. Daiss sold 5,080 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $53.28, for a total value of $270,662.40. Following the completion of the transaction, the insider now owns 7,474 shares in the company, valued at approximately $398,214.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher C. Womack sold 46,641 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $53.00, for a total transaction of $2,471,973.00. Following the completion of the transaction, the executive vice president now owns 56,799 shares of the company’s stock, valued at approximately $3,010,347. The disclosure for this sale can be found here. Insiders sold 98,662 shares of company stock valued at $5,207,038 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.
A number of research analysts have commented on SO shares. Zacks Investment Research cut shares of Southern from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. SunTrust Banks restated a “hold” rating and set a $50.00 price target on shares of Southern in a research note on Tuesday, December 26th. Mizuho restated a “buy” rating and set a $52.00 price target on shares of Southern in a research note on Tuesday, December 26th. Goldman Sachs Group restated a “sell” rating on shares of Southern in a research note on Wednesday, January 10th. Finally, JPMorgan Chase & Co. started coverage on shares of Southern in a research note on Friday, January 12th. They set an “underweight” rating and a $46.00 price target for the company. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.07.
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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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