Investors Buy Southern Company (The) (SO) on Weakness

Investors purchased shares of Southern Company (The) (NYSE:SO) on weakness during trading hours on Wednesday. $102.37 million flowed into the stock on the tick-up and $34.79 million flowed out of the stock on the tick-down, for a money net flow of $67.58 million into the stock. Of all stocks tracked, Southern Company (The) had the 8th highest net in-flow for the day. Southern Company (The) traded down ($0.27) for the day and closed at $48.85

A number of research firms have recently issued reports on SO. J P Morgan Chase & Co began coverage on shares of Southern Company (The) in a report on Tuesday. They set an “overweight” rating and a $16.78 price target on the stock. Credit Suisse Group upgraded shares of Southern Company (The) from an “underperform” rating to a “neutral” rating in a report on Thursday, August 3rd. Zacks Investment Research downgraded shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Morgan Stanley boosted their price objective on shares of Southern Company (The) from $50.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday, May 8th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Southern Company (The) in a research report on Monday, May 15th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $48.87.

The company has a 50 day moving average of $48.43 and a 200-day moving average of $49.48. The firm has a market capitalization of $48.82 billion, a P/E ratio of 80.35 and a beta of 0.12.

Southern Company (The) (NYSE:SO) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period last year, the company earned $0.74 earnings per share. The firm’s revenue was up 21.7% compared to the same quarter last year. On average, analysts predict that Southern Company will post $2.95 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st will be issued a $0.58 dividend. The ex-dividend date is Thursday, August 17th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.75%. Southern Company (The)’s dividend payout ratio (DPR) is presently 346.27%.

In related news, EVP Christopher C. Womack sold 75,144 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $49.29, for a total value of $3,703,847.76. Following the completion of the transaction, the executive vice president now directly owns 85,298 shares of the company’s stock, valued at $4,204,338.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Lantrip sold 25,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $51.50, for a total transaction of $1,287,500.00. Following the completion of the transaction, the chief executive officer now directly owns 31,080 shares of the company’s stock, valued at $1,600,620. The disclosure for this sale can be found here. Insiders sold 152,084 shares of company stock worth $7,665,158 over the last quarter. 0.74% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Southern Company (The) by 4.1% in the first quarter. Vanguard Group Inc. now owns 68,758,138 shares of the utilities provider’s stock valued at $3,422,780,000 after buying an additional 2,688,854 shares in the last quarter. BlackRock Inc. boosted its position in Southern Company (The) by 2,961.9% in the first quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock valued at $3,089,736,000 after buying an additional 60,040,696 shares in the last quarter. State Street Corp boosted its position in Southern Company (The) by 1.1% in the first quarter. State Street Corp now owns 48,900,251 shares of the utilities provider’s stock valued at $2,434,244,000 after buying an additional 515,397 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Southern Company (The) by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 11,463,868 shares of the utilities provider’s stock valued at $570,670,000 after buying an additional 62,620 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Southern Company (The) by 8.2% in the first quarter. Geode Capital Management LLC now owns 9,573,271 shares of the utilities provider’s stock valued at $475,877,000 after buying an additional 724,650 shares in the last quarter. 53.57% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “Investors Buy Southern Company (The) (SO) on Weakness” was first posted by Ticker Report and is owned by of Ticker Report. If you are reading this story on another publication, it was copied illegally and reposted in violation of international trademark & copyright law. The legal version of this story can be accessed at https://www.tickerreport.com/banking-finance/2795956/investors-buy-southern-company-the-so-on-weakness.html.

About Southern Company (The)

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.

Receive News & Ratings for Southern Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.