BB&T Securities LLC cut its position in shares of Southern Co (NYSE:SO) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 407,802 shares of the utilities provider’s stock after selling 23,777 shares during the period. BB&T Securities LLC’s holdings in Southern were worth $18,884,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Well Done LLC purchased a new position in Southern during the first quarter worth about $100,000. Kaizen Advisory LLC raised its stake in shares of Southern by 133.8% in the 2nd quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock valued at $106,000 after acquiring an additional 1,307 shares during the period. Destination Wealth Management raised its stake in shares of Southern by 359.3% in the 2nd quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 1,811 shares during the period. Horan Capital Advisors LLC. purchased a new stake in shares of Southern in the 2nd quarter valued at approximately $121,000. Finally, BerganKDV Wealth Management LLC purchased a new stake in shares of Southern in the 2nd quarter valued at approximately $130,000. 57.22% of the stock is currently owned by institutional investors.
Shares of SO opened at $45.76 on Friday. 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 cap of $44.40 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 3.27 and a beta of -0.06. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59.
Southern (NYSE:SO) last announced its earnings results on Wednesday, August 8th. The utilities provider reported $0.80 earnings per share for the quarter, topping the 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 the consensus estimate of $5.28 billion. During the same period in the prior year, the firm earned $0.73 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. research analysts forecast that Southern Co will post 2.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 6th. Investors of record on Monday, August 20th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.24%. The ex-dividend date was Friday, August 17th. Southern’s payout ratio is currently 79.47%.
In related news, EVP Christopher C. Womack sold 16,371 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $47.40, for a total transaction of $775,985.40. Following the sale, the executive vice president now directly owns 10,165 shares of the company’s stock, valued at approximately $481,821. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.73% of the stock is owned by corporate insiders.
A number of equities research analysts have recently issued reports on SO shares. Morgan Stanley boosted their price target on shares of Southern from $42.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, July 16th. Citigroup downgraded shares of Southern from a “neutral” rating to a “sell” rating and set a $45.00 price target on the stock. in a research note on Wednesday, August 8th. Howard Weil started coverage on shares of Southern in a research note on Tuesday, July 24th. They issued a “sector perform” rating and a $45.00 price target on the stock. 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 note on Tuesday, May 22nd. Finally, SunTrust Banks reissued a “hold” rating and issued a $50.00 price target on shares of Southern in a research note on Monday, August 6th. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $47.66.
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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