Resource Planning Group bought a new stake in shares of Southern Co (NYSE:SO) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,873 shares of the utilities provider’s stock, valued at approximately $387,000. Southern accounts for 0.3% of Resource Planning Group’s holdings, making the stock its 27th largest position.
Several other large investors also recently modified their holdings of the business. Kaizen Advisory LLC increased its holdings in shares of Southern by 133.8% during the 2nd quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 1,307 shares during the period. Destination Wealth Management boosted its position in shares of Southern by 359.3% during the 2nd quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 1,811 shares in the last quarter. Horan Capital Advisors LLC. acquired a new stake in shares of Southern during the 2nd quarter valued at about $121,000. Point72 Hong Kong Ltd acquired a new stake in shares of Southern during the 2nd quarter valued at about $119,000. Finally, BerganKDV Wealth Management LLC acquired a new stake in shares of Southern during the 2nd quarter valued at about $130,000. 57.42% of the stock is owned by institutional investors.
In related news, EVP Christopher C. Womack sold 16,371 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $47.40, for a total transaction of $775,985.40. Following the completion of the sale, the executive vice president now directly owns 10,165 shares of the company’s stock, valued at $481,821. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.73% of the company’s stock.
Shares of SO traded up $0.37 on Wednesday, reaching $46.04. 49,698 shares of the company’s stock were exchanged, compared to its average volume of 6,184,529. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.68. The company has a market cap of $45.37 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 3.31 and a beta of -0.09. Southern Co has a 12 month low of $42.38 and a 12 month high of $52.65.
Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, November 7th. The utilities provider reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.07. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.68 billion. Southern had a net margin of 9.96% and a return on equity of 13.06%. Southern’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 earnings per share. As a group, analysts expect that Southern Co will post 3.02 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Monday, November 19th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date is Friday, November 16th. Southern’s dividend payout ratio (DPR) is 79.47%.
Several analysts have recently weighed in on SO shares. Bank of America upgraded shares of Southern from an “underperform” rating to a “neutral” rating and set a $46.00 target price on the stock in a research report on Wednesday, October 10th. Morgan Stanley reduced their price target on shares of Southern from $45.00 to $44.00 and set a “sell” rating on the stock in a research report on Friday, September 21st. Zacks Investment Research upgraded shares of Southern from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Tuesday, October 9th. Citigroup lowered shares of Southern from a “neutral” rating to a “sell” rating and set a $45.00 price target on the stock. in a research report on Wednesday, August 8th. Finally, ValuEngine upgraded shares of Southern from a “sell” rating to a “hold” rating in a research report on Friday, October 19th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Southern currently has an average rating of “Hold” and a consensus target price of $46.11.
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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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