Intact Investment Management Inc. acquired a new stake in Southern (NYSE:SO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 69,900 shares of the utilities provider’s stock, valued at approximately $3,122,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atria Investments LLC lifted its position in Southern by 9.0% during the 4th quarter. Atria Investments LLC now owns 69,630 shares of the utilities provider’s stock worth $3,349,000 after acquiring an additional 5,727 shares in the last quarter. Bank of Montreal Can lifted its position in Southern by 5.5% during the 4th quarter. Bank of Montreal Can now owns 1,982,506 shares of the utilities provider’s stock worth $95,339,000 after acquiring an additional 102,695 shares in the last quarter. National Pension Service lifted its position in Southern by 3.7% during the 4th quarter. National Pension Service now owns 842,651 shares of the utilities provider’s stock worth $40,523,000 after acquiring an additional 30,381 shares in the last quarter. CrestPoint Capital Management LLC lifted its position in Southern by 22.8% during the 4th quarter. CrestPoint Capital Management LLC now owns 46,900 shares of the utilities provider’s stock worth $2,255,000 after acquiring an additional 8,700 shares in the last quarter. Finally, Creative Planning lifted its position in Southern by 8.7% during the 4th quarter. Creative Planning now owns 187,712 shares of the utilities provider’s stock worth $9,027,000 after acquiring an additional 15,075 shares in the last quarter. 56.04% of the stock is currently owned by institutional investors and hedge funds.
SO stock opened at $43.89 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.55 and a debt-to-equity ratio of 1.71. Southern has a 52-week low of $43.62 and a 52-week high of $44.42. The company has a market cap of $44.72 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 3.40 and a beta of 0.01.
Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, May 2nd. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.04. Southern had a return on equity of 12.97% and a net margin of 4.88%. The company had revenue of $6.37 billion for the quarter, compared to the consensus estimate of $5.98 billion. During the same period in the previous year, the business earned $0.66 EPS. Southern’s revenue for the quarter was up 10.4% compared to the same quarter last year. equities analysts forecast that Southern will post 2.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 6th. Shareholders of record on Monday, May 21st will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, May 18th. This is an increase from Southern’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a yield of 5.47%. Southern’s payout ratio is currently 76.82%.
SO has been the topic of several recent research reports. SunTrust Banks set a $45.00 price target on Southern and gave the stock a “hold” rating in a research report on Friday, February 23rd. JPMorgan Chase boosted their price target on Southern from $43.00 to $45.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 10th. TheStreet lowered Southern from a “b-” rating to a “c” rating in a research report on Monday, March 26th. Zacks Investment Research raised Southern from a “sell” rating to a “hold” rating in a research report on Tuesday, May 1st. Finally, Mizuho lowered Southern from a “buy” rating to a “neutral” rating and set a $44.50 price target on the stock. in a research report on Tuesday, January 23rd. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Southern currently has a consensus rating of “Hold” and an average target price of $49.17.
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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