Welch & Forbes LLC lessened its stake in Southern Co (NYSE:SO) by 20.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,357 shares of the utilities provider’s stock after selling 3,467 shares during the quarter. Welch & Forbes LLC’s holdings in Southern were worth $583,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Kaizen Advisory LLC boosted its holdings in shares of Southern by 133.8% in the second quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock valued at $106,000 after buying an additional 1,307 shares during the period. Destination Wealth Management boosted its holdings in shares of Southern by 359.3% in the second quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock valued at $107,000 after buying an additional 1,811 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Southern in the second quarter valued at approximately $119,000. Horan Capital Advisors LLC. acquired a new position in Southern during the second quarter worth $121,000. Finally, Sound Income Strategies LLC boosted its holdings in Southern by 83.5% during the third quarter. Sound Income Strategies LLC now owns 2,855 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 1,299 shares during the last quarter. Institutional investors own 57.34% of the company’s stock.
Several research analysts recently commented on SO shares. Zacks Investment Research upgraded shares of Southern from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Tuesday, October 9th. Barclays cut shares of Southern from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $51.00 to $48.00 in a report on Thursday, August 9th. Scotiabank restated a “hold” rating and set a $44.00 target price on shares of Southern in a report on Thursday, August 9th. SunTrust Banks restated a “hold” rating and set a $50.00 target price on shares of Southern in a report on Monday, August 6th. Finally, ValuEngine upgraded shares of Southern from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. Southern has a consensus rating of “Hold” and a consensus target price of $46.04.
NYSE SO opened at $45.07 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.68 and a current ratio of 0.81. Southern Co has a 1 year low of $42.38 and a 1 year high of $53.51. The firm has a market cap of $44.94 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 3.29 and a beta of -0.05.
Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, August 8th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.11. Southern had a net margin of 9.96% and a return on equity of 13.06%. The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the firm posted $0.73 earnings per share. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Southern Co will post 3 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Monday, November 19th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend is Friday, November 16th. Southern’s dividend payout ratio (DPR) is currently 79.47%.
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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