Teacher Retirement System of Texas increased its holdings in shares of Southern Co (NYSE:SO) by 57.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 406,602 shares of the utilities provider’s stock after purchasing an additional 148,133 shares during the period. Teacher Retirement System of Texas’ holdings in Southern were worth $25,901,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. KCS Wealth Advisory acquired a new stake in Southern during the 3rd quarter worth $25,000. Venturi Wealth Management LLC acquired a new stake in Southern during the 3rd quarter worth $34,000. Alpha Windward LLC acquired a new stake in Southern during the 4th quarter worth $36,000. Strategic Blueprint LLC acquired a new stake in Southern during the 3rd quarter worth $37,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its stake in Southern by 39.2% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 717 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 58.86% of the company’s stock.
Shares of SO stock traded down $0.63 during mid-day trading on Friday, hitting $68.91. The stock had a trading volume of 3,355,424 shares, compared to its average volume of 4,216,835. Southern Co has a fifty-two week low of $48.42 and a fifty-two week high of $71.10. The firm has a market cap of $71.96 billion, a PE ratio of 15.66, a PEG ratio of 4.80 and a beta of 0.15. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.94 and a quick ratio of 0.77. The company’s 50-day simple moving average is $66.50 and its 200-day simple moving average is $62.00.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 18th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Friday, February 14th. Southern’s dividend payout ratio (DPR) is presently 80.78%.
A number of analysts recently weighed in on SO shares. Royal Bank of Canada reiterated a “buy” rating and set a $67.00 price target on shares of Southern in a research note on Sunday, January 19th. SunTrust Banks raised their target price on shares of Southern from $60.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Credit Suisse Group raised their target price on shares of Southern from $60.00 to $64.00 and gave the stock an “underperform” rating in a research note on Wednesday, December 18th. Evercore ISI restated a “hold” rating and issued a $63.50 target price on shares of Southern in a research note on Sunday, December 15th. Finally, Morgan Stanley raised their target price on shares of Southern from $58.00 to $60.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. Southern has an average rating of “Hold” and a consensus price target of $62.79.
In other news, CEO Anthony L. Wilson sold 61,018 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $65.00, for a total value of $3,966,170.00. Following the completion of the transaction, the chief executive officer now owns 90,208 shares in the company, valued at approximately $5,863,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Pres. & CEO, Southern Nuclear Stephen E. Kuczynski sold 2,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $62.08, for a total transaction of $124,160.00. Following the completion of the transaction, the insider now owns 63,772 shares of the company’s stock, valued at approximately $3,958,965.76. The disclosure for this sale can be found here. Insiders sold a total of 2,216,238 shares of company stock valued at $139,613,163 in the last 90 days. Company insiders own 0.88% of the company’s stock.
Southern Company Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. 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, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.
Further Reading: Asset Allocation, Balancing Your Investments
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