Cobblestone Capital Advisors LLC NY decreased its stake in shares of Southern Co (NYSE:SO) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,683 shares of the utilities provider’s stock after selling 1,125 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Southern were worth $381,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in SO. FMR LLC boosted its position in Southern by 7.2% in the second quarter. FMR LLC now owns 6,720,611 shares of the utilities provider’s stock worth $311,231,000 after purchasing an additional 451,664 shares during the last quarter. Schroder Investment Management Group boosted its position in Southern by 364.1% in the second quarter. Schroder Investment Management Group now owns 411,131 shares of the utilities provider’s stock worth $19,051,000 after purchasing an additional 322,552 shares during the last quarter. Franklin Street Advisors Inc. NC boosted its position in Southern by 11.8% in the third quarter. Franklin Street Advisors Inc. NC now owns 12,444 shares of the utilities provider’s stock worth $543,000 after purchasing an additional 1,310 shares during the last quarter. Cerebellum GP LLC purchased a new position in Southern in the third quarter worth $182,000. Finally, State of Alaska Department of Revenue boosted its position in Southern by 5.6% in the third quarter. State of Alaska Department of Revenue now owns 475,201 shares of the utilities provider’s stock worth $20,717,000 after purchasing an additional 25,075 shares during the last quarter. 56.47% of the stock is currently owned by institutional investors.
Shares of SO opened at $48.49 on Friday. The firm has a market capitalization of $50.00 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 3.59 and a beta of 0.19. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.58 and a current ratio of 0.72. Southern Co has a 1 year low of $42.38 and a 1 year high of $49.43.
Southern (NYSE:SO) last issued its earnings results on Wednesday, November 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.07. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.68 billion. Southern had a return on equity of 12.88% and a net margin of 10.35%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. Research analysts anticipate that Southern Co will post 3.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 19th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, February 15th. This represents a $2.40 annualized dividend and a dividend yield of 4.95%. Southern’s payout ratio is presently 79.47%.
In related news, CEO Kimberly S. Greene sold 15,000 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $47.03, for a total transaction of $705,450.00. Following the sale, the chief executive officer now directly owns 9,380 shares in the company, valued at approximately $441,141.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Lantrip sold 9,000 shares of the business’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $47.58, for a total value of $428,220.00. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.
Several research analysts have weighed in on the company. Mizuho reissued a “hold” rating and issued a $46.00 price objective on shares of Southern in a research report on Tuesday, December 11th. Citigroup raised Southern from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $45.00 to $50.00 in a research report on Thursday, January 24th. Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Tuesday, December 4th. Barclays boosted their price objective on Southern from $48.00 to $49.00 and gave the stock a “hold” rating in a research report on Monday, November 19th. Finally, SunTrust Banks reissued a “hold” rating and issued a $48.00 price objective on shares of Southern in a research report on Thursday, November 8th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $46.64.
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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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