SVA Plumb Wealth Management LLC trimmed its stake in shares of Southern Co (NYSE:SO) by 35.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,200 shares of the utilities provider’s stock after selling 2,288 shares during the quarter. SVA Plumb Wealth Management LLC’s holdings in Southern were worth $202,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Iberiabank Corp increased its position in Southern by 6.5% in the 3rd quarter. Iberiabank Corp now owns 151,315 shares of the utilities provider’s stock valued at $7,437,000 after acquiring an additional 9,232 shares during the period. Confluence Investment Management LLC increased its position in Southern by 2.8% in the 4th quarter. Confluence Investment Management LLC now owns 2,050,249 shares of the utilities provider’s stock valued at $98,596,000 after acquiring an additional 55,264 shares during the period. Atlantic Trust Group LLC increased its position in Southern by 13.4% in the 3rd quarter. Atlantic Trust Group LLC now owns 23,732 shares of the utilities provider’s stock valued at $1,166,000 after acquiring an additional 2,804 shares during the period. National Pension Service increased its position in Southern by 3.7% in the 4th quarter. National Pension Service now owns 842,651 shares of the utilities provider’s stock valued at $40,523,000 after acquiring an additional 30,381 shares during the period. Finally, Synovus Financial Corp increased its position in Southern by 7.2% in the 3rd quarter. Synovus Financial Corp now owns 931,263 shares of the utilities provider’s stock valued at $45,761,000 after acquiring an additional 62,321 shares during the period. Institutional investors and hedge funds own 53.87% of the company’s stock.
Several brokerages have issued reports on SO. Guggenheim restated a “buy” rating and issued a $51.00 price target on shares of Southern in a research report on Friday. SunTrust Banks set a $45.00 price target on shares of Southern and gave the company a “hold” rating in a research report on Friday. Deutsche Bank decreased their price target on shares of Southern from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday. Morgan Stanley decreased their price target on shares of Southern from $48.00 to $44.00 and set an “underweight” rating for the company in a research report on Tuesday, February 13th. Finally, UBS Group initiated coverage on shares of Southern in a research report on Friday, February 2nd. They issued a “neutral” rating and a $46.00 price target for the company. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $49.70.
Shares of Southern Co (NYSE SO) opened at $44.07 on Friday. The company has a market cap of $44,429.57, a price-to-earnings ratio of 14.59, a PEG ratio of 3.32 and a beta of 0.03. Southern Co has a 12 month low of $42.38 and a 12 month high of $53.51. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.74 and a quick ratio of 0.57.
Southern (NYSE:SO) last issued its earnings results on Wednesday, February 21st. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.05. The business had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.17 billion. Southern had a net margin of 3.82% and a return on equity of 11.96%. Southern’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share. sell-side analysts anticipate that Southern Co will post 2.94 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 5.26%. The ex-dividend date is Friday, February 16th. Southern’s dividend payout ratio is presently 272.94%.
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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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