Hoylecohen LLC purchased a new stake in shares of Southern (NYSE:SO) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 18,955 shares of the utilities provider’s stock, valued at approximately $912,000.
A number of other hedge funds have also made changes to their positions in SO. Commonwealth Bank of Australia lifted its holdings in Southern by 1,565.3% during the third quarter. Commonwealth Bank of Australia now owns 1,738,380 shares of the utilities provider’s stock valued at $59,048,000 after purchasing an additional 1,633,990 shares during the last quarter. Luminus Management LLC purchased a new stake in shares of Southern in the fourth quarter worth about $70,674,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Southern in the fourth quarter worth about $45,617,000. BlackRock Inc. lifted its holdings in shares of Southern by 1.3% in the fourth quarter. BlackRock Inc. now owns 62,955,468 shares of the utilities provider’s stock worth $3,027,527,000 after buying an additional 821,503 shares in the last quarter. Finally, Quantitative Investment Management LLC purchased a new stake in Southern in the fourth quarter valued at approximately $26,079,000. Institutional investors and hedge funds own 56.40% of the company’s stock.
Shares of Southern stock traded down $0.22 during trading hours on Friday, reaching $44.79. 4,113,477 shares of the stock traded hands, compared to its average volume of 5,328,453. The company has a market cap of $45,377.23, a P/E ratio of 14.83, a P/E/G ratio of 3.45 and a beta of 0.02. Southern has a one year low of $42.38 and a one year high of $53.51. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.84.
Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.05. The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.17 billion. Southern had a return on equity of 11.96% and a net margin of 3.82%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. research analysts anticipate that Southern will post 2.9 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a “buy” rating on shares of Southern in a research note on Friday, December 22nd. UBS assumed coverage on shares of Southern in a research report on Friday, February 2nd. They set a “neutral” rating and a $46.00 price target on the stock. SunTrust Banks set a $47.00 price target on shares of Southern and gave the company a “hold” rating in a research report on Wednesday, January 17th. ValuEngine cut shares of Southern from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Deutsche Bank cut their target price on shares of Southern from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Seven research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Southern has a consensus rating of “Hold” and an average target price of $49.17.
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The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.
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