Juncture Wealth Strategies LLC lowered its stake in shares of Southern Co (NYSE:SO) by 78.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,400 shares of the utilities provider’s stock after selling 16,238 shares during the period. Juncture Wealth Strategies LLC’s holdings in Southern were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Southern by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,620,343 shares of the utilities provider’s stock valued at $463,048,000 after acquiring an additional 193,771 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Southern by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,817,412 shares of the utilities provider’s stock worth $79,230,000 after acquiring an additional 36,654 shares during the last quarter. First Republic Investment Management Inc. boosted its position in Southern by 10.1% during the third quarter. First Republic Investment Management Inc. now owns 76,879 shares of the utilities provider’s stock worth $3,352,000 after acquiring an additional 7,029 shares during the last quarter. Fifth Third Bancorp boosted its position in Southern by 6.3% during the third quarter. Fifth Third Bancorp now owns 92,521 shares of the utilities provider’s stock worth $4,034,000 after acquiring an additional 5,451 shares during the last quarter. Finally, Bell Rock Capital LLC acquired a new position in Southern during the third quarter worth about $205,000. Hedge funds and other institutional investors own 56.89% of the company’s stock.
In other Southern news, CEO Stephen E. Kuczynski sold 7,000 shares of Southern stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $51.68, for a total transaction of $361,760.00. Following the transaction, the chief executive officer now directly owns 77,772 shares of the company’s stock, valued at $4,019,256.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christopher C. Womack sold 18,922 shares of Southern stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $50.36, for a total transaction of $952,911.92. Following the transaction, the executive vice president now directly owns 10,165 shares in the company, valued at $511,909.40. The disclosure for this sale can be found here. Insiders sold 383,341 shares of company stock worth $19,342,988 over the last three months. Corporate insiders own 0.73% of the company’s stock.
Shares of SO traded down $0.15 during trading hours on Wednesday, reaching $52.24. The company had a trading volume of 491,240 shares, compared to its average volume of 4,348,608. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 1.40. Southern Co has a 12-month low of $42.42 and a 12-month high of $52.98. The company has a market capitalization of $54.53 billion, a PE ratio of 17.02, a P/E/G ratio of 3.86 and a beta of 0.20.
Southern (NYSE:SO) last posted its earnings results on Wednesday, February 20th. The utilities provider reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Southern had a net margin of 9.54% and a return on equity of 11.39%. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $4.88 billion. During the same period last year, the firm posted $0.51 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, research analysts anticipate that Southern Co will post 3.03 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Southern’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.75%. Southern’s dividend payout ratio (DPR) is currently 78.18%.
Several equities analysts have weighed in on the stock. ValuEngine lowered shares of Southern from a “buy” rating to a “hold” rating in a report on Monday, April 1st. SunTrust Banks reiterated a “hold” rating and issued a $52.00 target price on shares of Southern in a report on Monday, February 25th. reiterated a “sell” rating on shares of Southern in a report on Wednesday, February 13th. reiterated a “sell” rating on shares of Southern in a report on Wednesday, February 13th. Finally, Citigroup upgraded shares of Southern from a “sell” rating to a “neutral” rating and boosted their target price for the company from $45.00 to $50.00 in a report on Thursday, January 24th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $47.15.
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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