Home Federal Bank of Tennessee raised its stake in Southern Co. (NYSE:SO) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 23,624 shares of the company’s stock after buying an additional 60 shares during the period. Home Federal Bank of Tennessee’s holdings in Southern were worth $1,267,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC increased its position in Southern by 89.2% in the first quarter. MCF Advisors LLC now owns 2,543 shares of the company’s stock valued at $132,000 after buying an additional 1,199 shares during the last quarter. Zions Bancorporation increased its position in Southern by 1.3% in the first quarter. Zions Bancorporation now owns 2,559 shares of the company’s stock valued at $132,000 after buying an additional 32 shares during the last quarter. Barnett & Company Inc. acquired a new position in Southern during the first quarter valued at $155,000. Cribstone Capital Management LLC acquired a new position in Southern during the second quarter valued at $184,000. Finally, Montrusco Bolton Investments Inc. increased its position in Southern by 0.5% in the second quarter. Montrusco Bolton Investments Inc. now owns 3,880 shares of the company’s stock valued at $208,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 48.64% of the company’s stock.
Shares of Southern Co. (NYSE:SO) traded down 1.23% during trading on Thursday, reaching $52.05. 5,877,940 shares of the company’s stock were exchanged. Southern Co. has a 12 month low of $43.38 and a 12 month high of $54.64. The firm has a market cap of $49.01 billion, a price-to-earnings ratio of 20.66 and a beta of 0.05. The stock has a 50-day moving average price of $51.98 and a 200 day moving average price of $51.41.
Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. The company had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Southern had a net margin of 13.77% and a return on equity of 12.50%. Southern’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 EPS. On average, analysts forecast that Southern Co. will post $2.86 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Monday, August 15th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend was Thursday, August 11th. Southern’s payout ratio is 87.50%.
Several brokerages have recently commented on SO. Jefferies Group reiterated a “hold” rating on shares of Southern in a report on Thursday, August 4th. Argus reiterated a “buy” rating on shares of Southern in a report on Wednesday, June 15th. SunTrust Banks Inc. lowered their target price on shares of Southern from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, September 12th. Zacks Investment Research upgraded shares of Southern from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Tuesday. Finally, Mizuho increased their target price on shares of Southern from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $53.50.
In related news, EVP Christopher C. Womack sold 46,008 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $53.40, for a total value of $2,456,827.20. Following the transaction, the executive vice president now owns 56,149 shares in the company, valued at approximately $2,998,356.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Kimberly S. Greene sold 141,818 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $54.00, for a total transaction of $7,658,172.00. Following the completion of the transaction, the chief operating officer now owns 177,686 shares in the company, valued at approximately $9,595,044. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.
Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.
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