Argent Capital Management LLC grew its position in shares of Southern Co (NYSE:SO) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 265,319 shares of the utilities provider’s stock after acquiring an additional 7,398 shares during the period. Argent Capital Management LLC’s holdings in Southern were worth $12,287,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Well Done LLC purchased a new position in shares of Southern during the first quarter valued at about $100,000. Kaizen Advisory LLC increased its position in shares of Southern by 133.8% during 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 increased its position in shares of Southern by 359.3% during 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. Horan Capital Advisors LLC. purchased a new position in shares of Southern during the second quarter valued at about $121,000. Finally, BerganKDV Wealth Management LLC purchased a new position in shares of Southern during the second quarter valued at about $130,000. 56.53% of the stock is owned by hedge funds and other institutional investors.
SO has been the topic of several research analyst reports. TheStreet upgraded shares of Southern from a “c” rating to a “b-” rating in a research report on Monday, June 4th. Deutsche Bank reduced their price target on shares of Southern from $49.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, May 22nd. Barclays cut shares of Southern from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $51.00 to $48.00 in a research report on Thursday, August 9th. Zacks Investment Research upgraded shares of Southern from a “sell” rating to a “hold” rating in a research report on Tuesday, May 1st. Finally, ValuEngine upgraded shares of Southern from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Eight analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $47.97.
In other Southern news, EVP Christopher C. Womack sold 16,371 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $47.40, for a total value of $775,985.40. Following the sale, the executive vice president now owns 10,165 shares in the company, valued at $481,821. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.73% of the stock is currently owned by corporate insiders.
Shares of SO opened at $46.00 on Wednesday. The stock has a market capitalization of $47.63 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 3.52 and a beta of 0.04. 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 fifty-two week low of $42.38 and a fifty-two week high of $53.51.
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, topping the Zacks’ consensus estimate of $0.69 by $0.11. The business had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Southern had a net margin of 9.96% and a return on equity of 13.06%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.73 earnings per share. equities analysts predict that Southern Co will post 2.97 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 6th. Shareholders of record on Monday, August 20th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Friday, August 17th. Southern’s dividend payout ratio (DPR) is presently 79.47%.
Southern Company Profile
The Southern Co is a holding company, which engages in the sale of electricity. It operates through the following segments: Traditional Electric Operating Companies, Southern Power, Southern Company Gas, and All Other. The Traditional Electric Operating Companies segment refers to vertically integrated utilities that own generation, transmission and distribution facilities, and supplies electric services in the states of Alabama, Georgia, Florida, and Mississippi.
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