Southern Co (NYSE:SO) announced a quarterly dividend on Friday, January 19th, RTT News reports. Investors of record on Tuesday, February 20th will be given a dividend of 0.58 per share by the utilities provider on Tuesday, March 6th. This represents a $2.32 annualized dividend and a dividend yield of 5.22%.
Southern has increased its dividend by an average of 3.4% annually over the last three years and has increased its dividend every year for the last 16 years. Southern has a payout ratio of 78.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Southern to earn $3.00 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 77.3%.
Shares of Southern (NYSE SO) opened at $44.44 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57. The firm has a market capitalization of $44,600.00, a P/E ratio of 79.36, a P/E/G ratio of 3.32 and a beta of 0.14. Southern has a 52 week low of $44.26 and a 52 week high of $53.51.
Several brokerages have commented on SO. Zacks Investment Research upgraded Southern from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Bank of America reiterated an “underperform” rating and set a $51.00 target price on shares of Southern in a research note on Tuesday, October 24th. Goldman Sachs Group reiterated a “sell” rating on shares of Southern in a research note on Wednesday, January 10th. SunTrust Banks reiterated a “hold” rating and set a $52.00 target price on shares of Southern in a research note on Friday, October 20th. Finally, Mizuho reiterated a “buy” rating and set a $55.00 target price on shares of Southern in a research note on Friday, December 8th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Southern currently has a consensus rating of “Hold” and an average price target of $51.07.
In other news, EVP Christopher C. Womack sold 46,641 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $53.00, for a total value of $2,471,973.00. Following the transaction, the executive vice president now directly owns 56,799 shares in the company, valued at approximately $3,010,347. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ann P. Daiss sold 5,080 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $53.28, for a total value of $270,662.40. Following the completion of the transaction, the insider now owns 7,474 shares in the company, valued at $398,214.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,662 shares of company stock worth $5,207,038. Company insiders own 1.00% of the company’s stock.
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Southern Company Profile
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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