Eads & Heald Wealth Management purchased a new stake in shares of Southern Co (NYSE:SO) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 4,929 shares of the utilities provider’s stock, valued at approximately $215,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SO. Kaizen Advisory LLC boosted its stake in Southern by 133.8% during the 2nd quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 1,307 shares in the last quarter. Destination Wealth Management boosted its stake in shares of Southern by 359.3% during the 2nd quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 1,811 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Southern during the 2nd quarter worth $119,000. Horan Capital Advisors LLC. bought a new stake in shares of Southern during the 2nd quarter worth $121,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Southern by 83.5% during the 3rd quarter. Sound Income Strategies LLC now owns 2,855 shares of the utilities provider’s stock worth $124,000 after acquiring an additional 1,299 shares in the last quarter. 57.34% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on SO shares. ValuEngine raised Southern from a “sell” rating to a “hold” rating in a research note on Friday, October 19th. Barclays lowered Southern from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $51.00 to $48.00 in a research note on Thursday, August 9th. Howard Weil started coverage on Southern in a research note on Tuesday, July 24th. They set a “sector perform” rating and a $45.00 price objective for the company. Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Tuesday, October 9th. Finally, UBS Group raised their price objective on Southern from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $46.11.
SO opened at $45.03 on Thursday. The firm has a market capitalization of $46.47 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 3.39 and a beta of -0.05. Southern Co has a 12-month low of $42.38 and a 12-month high of $53.51. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.
Southern (NYSE:SO) last released its earnings results on Wednesday, August 8th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.11. The company had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.28 billion. Southern had a return on equity of 13.06% and a net margin of 9.96%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 earnings per share. Sell-side analysts anticipate that Southern Co will post 3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Monday, November 19th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, November 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.33%. Southern’s payout ratio is currently 79.47%.
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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