Nissay Asset Management Corp Japan ADV lessened its holdings in shares of Southern Co (NYSE:SO) by 1.3% in the second quarter, Holdings Channel reports. The fund owned 113,959 shares of the utilities provider’s stock after selling 1,502 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Southern were worth $5,277,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of SO. Well Done LLC bought a new stake in Southern in the 1st quarter worth approximately $100,000. Kaizen Advisory LLC lifted its position in Southern by 133.8% in the 2nd quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock worth $106,000 after buying an additional 1,307 shares during the last quarter. Destination Wealth Management lifted its position in Southern by 359.3% in the 2nd quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock worth $107,000 after buying an additional 1,811 shares during the last quarter. Horan Capital Advisors LLC. bought a new stake in Southern in the 2nd quarter worth approximately $121,000. Finally, BerganKDV Wealth Management LLC bought a new stake in Southern in the 2nd quarter worth approximately $130,000. Hedge funds and other institutional investors own 57.07% of the company’s stock.
Shares of SO stock opened at $46.97 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. Southern Co has a fifty-two week low of $42.38 and a fifty-two week high of $53.51. The company has a market capitalization of $46.78 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 3.46 and a beta of 0.04.
Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, August 8th. The utilities provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.11. Southern had a return on equity of 13.06% and a net margin of 9.96%. The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. equities analysts predict that Southern Co will post 2.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 6th. Stockholders of record on Monday, August 20th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, August 17th. This represents a $2.40 annualized dividend and a dividend yield of 5.11%. Southern’s dividend payout ratio (DPR) is presently 79.47%.
In other news, EVP Christopher C. Womack sold 16,371 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $47.40, for a total transaction of $775,985.40. Following the transaction, the executive vice president now directly owns 10,165 shares of the company’s stock, valued at $481,821. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is currently owned by insiders.
A number of analysts recently weighed in on SO shares. Deutsche Bank downgraded Southern from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a research report on Tuesday, June 26th. ValuEngine upgraded Southern from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Howard Weil assumed coverage on Southern in a research report on Tuesday, July 24th. They issued a “sector perform” rating and a $45.00 price objective for the company. Barclays downgraded Southern from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $51.00 to $48.00 in a research report on Thursday, August 9th. Finally, Zacks Investment Research upgraded Southern from a “sell” rating to a “hold” rating in a research report on Tuesday, May 1st. Eight analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $47.97.
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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