Municipal Employees Retirement System of Michigan trimmed its position in shares of Southern Co (NYSE:SO) by 43.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,820 shares of the utilities provider’s stock after selling 20,120 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Southern were worth $1,242,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Taylor Hoffman Wealth Management acquired a new stake in Southern in the 4th quarter valued at $104,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Southern in the 3rd quarter valued at $105,000. Fieldpoint Private Securities LLC acquired a new stake in Southern in the 3rd quarter valued at $118,000. Acropolis Investment Management LLC acquired a new stake in Southern in the 4th quarter valued at $134,000. Finally, Bank of Nova Scotia Trust Co. acquired a new stake in Southern in the 3rd quarter valued at $147,000. 56.39% of the stock is owned by hedge funds and other institutional investors.
Shares of Southern Co (NYSE SO) opened at $44.17 on Tuesday. Southern Co has a one year low of $42.38 and a one year high of $53.51. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.84. The stock has a market cap of $44,550.54, a price-to-earnings ratio of 51.96, a price-to-earnings-growth ratio of 3.38 and a beta of 0.07.
Southern (NYSE:SO) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. Southern had a net margin of 3.82% and a return on equity of 11.96%. The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the previous year, the company posted $0.24 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. sell-side analysts forecast that Southern Co will post 2.9 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.58 per share. The ex-dividend date was Friday, February 16th. This represents a $2.32 annualized dividend and a yield of 5.25%. Southern’s dividend payout ratio (DPR) is presently 272.94%.
SO has been the topic of a number of research analyst reports. SunTrust Banks reissued a “hold” rating and issued a $45.00 price target on shares of Southern in a research note on Tuesday, March 6th. Zacks Investment Research cut shares of Southern from a “hold” rating to a “sell” rating in a research note on Monday, January 15th. JPMorgan Chase & Co. initiated coverage on shares of Southern in a research note on Friday, January 12th. They issued an “underweight” rating and a $46.00 price target on the stock. Goldman Sachs reissued a “sell” rating on shares of Southern in a research note on Wednesday, January 10th. Finally, Mizuho reissued a “buy” rating and issued a $52.00 price target on shares of Southern in a research note on Tuesday, December 26th. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $49.47.
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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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