Shell Asset Management Co. Boosts Stake in Southern Company (The) (SO)

Shell Asset Management Co. grew its holdings in shares of Southern Company (The) (NYSE:SO) by 91.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 780,938 shares of the utilities provider’s stock after purchasing an additional 373,793 shares during the period. Southern Company (The) makes up 0.6% of Shell Asset Management Co.’s portfolio, making the stock its 27th biggest holding. Shell Asset Management Co. owned 0.08% of Southern Company (The) worth $34,088,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Stokes & Hubbell Capital Management LLC boosted its position in shares of Southern Company (The) by 41.8% during the 3rd quarter. Stokes & Hubbell Capital Management LLC now owns 25,944 shares of the utilities provider’s stock valued at $1,275,000 after purchasing an additional 7,642 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Southern Company (The) during the 3rd quarter valued at about $894,000. Fulton Bank N.A. boosted its position in shares of Southern Company (The) by 4.6% during the 3rd quarter. Fulton Bank N.A. now owns 48,711 shares of the utilities provider’s stock valued at $2,394,000 after purchasing an additional 2,122 shares in the last quarter. Beacon Financial Group boosted its position in shares of Southern Company (The) by 1.3% during the 3rd quarter. Beacon Financial Group now owns 192,630 shares of the utilities provider’s stock valued at $9,466,000 after purchasing an additional 2,499 shares in the last quarter. Finally, Eqis Capital Management Inc. boosted its position in shares of Southern Company (The) by 6.6% during the 3rd quarter. Eqis Capital Management Inc. now owns 19,465 shares of the utilities provider’s stock valued at $957,000 after purchasing an additional 1,199 shares in the last quarter. Institutional investors own 52.64% of the company’s stock.

Shares of Southern Company (NYSE SO) opened at $51.18 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.73 and a debt-to-equity ratio of 1.73. The stock has a market cap of $51,150.00, a P/E ratio of 18.53, a PEG ratio of 4.60 and a beta of 0.15. Southern Company has a 52-week low of $46.20 and a 52-week high of $53.51.

Southern Company (The) (NYSE:SO) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.16 billion. Southern Company (The) had a net margin of 2.59% and a return on equity of 10.81%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 earnings per share. research analysts anticipate that Southern Company will post 2.95 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Monday, November 20th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Friday, November 17th. Southern Company (The)’s dividend payout ratio (DPR) is 414.29%.

Several research firms have recently weighed in on SO. Zacks Investment Research upgraded shares of Southern Company (The) from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Bank of America Corporation restated an “underperform” rating and set a $51.00 price objective on shares of Southern Company (The) in a research report on Tuesday, October 24th. SunTrust Banks, Inc. restated a “hold” rating and set a $52.00 price objective on shares of Southern Company (The) in a research report on Friday, October 20th. Jefferies Group LLC restated a “buy” rating and set a $56.00 price objective (up previously from $55.00) on shares of Southern Company (The) in a research report on Tuesday, September 12th. Finally, Credit Suisse Group upgraded shares of Southern Company (The) from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $49.72.

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In other news, CEO William P. Bowers sold 85,151 shares of the stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $50.00, for a total value of $4,257,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James Y. Kerr II sold 25,000 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $52.16, for a total value of $1,304,000.00. Following the completion of the transaction, the vice president now owns 26,000 shares in the company, valued at approximately $1,356,160. The disclosure for this sale can be found here. Insiders sold 213,813 shares of company stock valued at $11,029,988 over the last three months. 0.74% of the stock is owned by insiders.

About Southern Company (The)

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

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Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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