World Asset Management Inc reduced its position in Southern Co (NYSE:SO) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,676 shares of the utilities provider’s stock after selling 357 shares during the quarter. World Asset Management Inc’s holdings in Southern were worth $1,934,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Keebeck Wealth Management LLC bought a new position in Southern in the 2nd quarter valued at $29,000. Legacy Bridge LLC bought a new stake in Southern during the second quarter valued at $31,000. MV Capital Management Inc. boosted its stake in Southern by 562.0% during the second quarter. MV Capital Management Inc. now owns 662 shares of the utilities provider’s stock valued at $34,000 after buying an additional 562 shares during the period. Demars Financial Group LLC bought a new position in Southern in the 2nd quarter worth about $36,000. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of Southern by 454.4% in the 1st quarter. Prestige Wealth Management Group LLC now owns 693 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 568 shares in the last quarter. 57.29% of the stock is owned by institutional investors.
Several research analysts recently weighed in on the stock. Mizuho cut shares of Southern from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $53.00 to $48.00 in a research report on Thursday, September 10th. Barclays raised shares of Southern from an “equal weight” rating to an “overweight” rating and set a $61.00 price target on the stock in a report on Monday, September 21st. UBS Group lowered their price objective on shares of Southern from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 1st. KeyCorp upped their target price on shares of Southern from $65.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, October 19th. Finally, Morgan Stanley increased their target price on Southern from $57.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $62.17.
Shares of SO traded up $0.29 during trading hours on Friday, hitting $60.85. The company had a trading volume of 4,395,253 shares, compared to its average volume of 3,904,625. Southern Co has a 52-week low of $41.96 and a 52-week high of $71.10. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.46. The stock’s 50 day moving average price is $55.11 and its 200 day moving average price is $54.88. The firm has a market cap of $64.27 billion, a P/E ratio of 19.76, a P/E/G ratio of 4.58 and a beta of 0.38.
Southern (NYSE:SO) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.11. Southern had a return on equity of 10.47% and a net margin of 15.83%. The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period last year, the company earned $0.80 EPS. Southern’s revenue for the quarter was down 9.4% compared to the same quarter last year. On average, research analysts expect that Southern Co will post 3.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Monday, November 16th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Friday, November 13th. Southern’s dividend payout ratio is 82.32%.
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.
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