ETRADE Capital Management LLC lifted its position in shares of Southern (NYSE:SO) by 76.6% during the 1st quarter, Holdings Channel reports. The firm owned 57,239 shares of the utilities provider’s stock after purchasing an additional 24,835 shares during the quarter. ETRADE Capital Management LLC’s holdings in Southern were worth $2,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Taylor Hoffman Wealth Management bought a new stake in shares of Southern during the 4th quarter worth about $104,000. We Are One Seven LLC bought a new stake in shares of Southern during the 4th quarter worth about $106,000. Acropolis Investment Management LLC bought a new stake in shares of Southern during the 4th quarter worth about $134,000. IFG Advisory LLC bought a new stake in shares of Southern during the 4th quarter worth about $2,420,000. Finally, Global Trust Asset Management LLC bought a new stake in shares of Southern during the 4th quarter worth about $170,000. Institutional investors own 56.07% of the company’s stock.
Southern opened at $44.93 on Friday, according to MarketBeat Ratings. The company has a quick ratio of 0.55, a current ratio of 0.70 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $44.30 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 3.37 and a beta of 0.01. Southern has a 12-month low of $42.38 and a 12-month high of $53.51.
Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, May 2nd. The utilities provider reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.04. Southern had a net margin of 4.88% and a return on equity of 12.97%. The company had revenue of $6.37 billion during the quarter, compared to the consensus estimate of $5.98 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. research analysts forecast that Southern will post 2.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 6th. Stockholders of record on Monday, May 21st will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date is Friday, May 18th. This is an increase from Southern’s previous quarterly dividend of $0.58. Southern’s dividend payout ratio is 76.82%.
Several analysts recently commented on the stock. ValuEngine downgraded shares of Southern from a “hold” rating to a “sell” rating in a report on Tuesday, May 8th. Zacks Investment Research raised shares of Southern from a “sell” rating to a “hold” rating in a report on Tuesday, May 1st. UBS initiated coverage on shares of Southern in a report on Friday, February 2nd. They set a “neutral” rating and a $46.00 target price for the company. SunTrust Banks set a $47.00 price objective on shares of Southern and gave the company a “hold” rating in a report on Wednesday, January 17th. Finally, Credit Suisse Group boosted their price objective on shares of Southern to $45.00 and gave the company a “neutral” rating in a report on Monday, May 7th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Southern has a consensus rating of “Hold” and a consensus price target of $49.17.
Southern Company Profile
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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