Bank of Hawaii reduced its holdings in Southern Co (NYSE:SO) by 4.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 64,142 shares of the utilities provider’s stock after selling 2,926 shares during the quarter. Bank of Hawaii’s holdings in Southern were worth $3,085,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. South Texas Money Management Ltd. increased its position in Southern by 0.3% in the 2nd quarter. South Texas Money Management Ltd. now owns 7,084 shares of the utilities provider’s stock valued at $339,000 after acquiring an additional 19 shares during the period. Strategic Advisors LLC increased its position in shares of Southern by 0.7% during the second quarter. Strategic Advisors LLC now owns 6,842 shares of the utilities provider’s stock worth $328,000 after buying an additional 47 shares during the period. Hancock Holding Co. increased its position in shares of Southern by 0.5% during the second quarter. Hancock Holding Co. now owns 42,585 shares of the utilities provider’s stock worth $2,039,000 after buying an additional 213 shares during the period. Day & Ennis LLC increased its position in shares of Southern by 1.1% during the second quarter. Day & Ennis LLC now owns 28,424 shares of the utilities provider’s stock worth $1,361,000 after buying an additional 316 shares during the period. Finally, Ken Stern & Associates Inc. increased its position in shares of Southern by 5.4% during the second quarter. Ken Stern & Associates Inc. now owns 6,221 shares of the utilities provider’s stock worth $300,000 after buying an additional 319 shares during the period. Hedge funds and other institutional investors own 53.87% of the company’s stock.
Several research firms have recently weighed in on SO. Zacks Investment Research upgraded shares of Southern from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Mizuho reiterated a “buy” rating and set a $55.00 price objective on shares of Southern in a research report on Friday, December 8th. Royal Bank of Canada reissued a “buy” rating on shares of Southern in a research note on Friday, December 22nd. SunTrust Banks reissued a “hold” rating and set a $50.00 target price on shares of Southern in a research note on Tuesday, December 26th. Finally, Guggenheim reissued a “buy” rating and set a $52.00 target price on shares of Southern in a research note on Wednesday, January 3rd. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $49.83.
Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. Southern had a net margin of 2.59% and a return on equity of 10.81%. The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same period last year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. equities research analysts anticipate that Southern Co will post 2.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date is Friday, February 16th. Southern’s dividend payout ratio (DPR) is 286.42%.
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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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