Burney Co. grew its holdings in Southern Co (NYSE:SO) by 17.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,590 shares of the utilities provider’s stock after purchasing an additional 2,411 shares during the quarter. Burney Co.’s holdings in Southern were worth $768,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ipswich Investment Management Co. Inc. lifted its stake in Southern by 5.4% in the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 21,309 shares of the utilities provider’s stock worth $987,000 after purchasing an additional 1,090 shares in the last quarter. Moloney Securities Asset Management LLC lifted its stake in Southern by 17.1% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 7,474 shares of the utilities provider’s stock worth $346,000 after purchasing an additional 1,093 shares in the last quarter. BB&T Corp lifted its stake in Southern by 0.7% in the 2nd quarter. BB&T Corp now owns 157,644 shares of the utilities provider’s stock worth $7,301,000 after purchasing an additional 1,138 shares in the last quarter. Willis Investment Counsel lifted its stake in Southern by 0.6% in the 1st quarter. Willis Investment Counsel now owns 199,640 shares of the utilities provider’s stock worth $8,916,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Southern by 22.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 6,587 shares of the utilities provider’s stock worth $293,000 after purchasing an additional 1,214 shares in the last quarter. 57.22% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Christopher C. Womack sold 16,371 shares of Southern stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $47.40, for a total value of $775,985.40. Following the completion of the sale, the executive vice president now owns 10,165 shares in the company, valued at approximately $481,821. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is currently owned by company insiders.
SO stock opened at $45.76 on Friday. The company has a market cap of $44.40 billion, a PE ratio of 15.15, a PEG ratio of 3.27 and a beta of -0.06. 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 one year low of $42.38 and a one year high of $53.51.
Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, August 8th. The utilities provider reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.11. The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.28 billion. Southern had a net margin of 9.96% and a return on equity of 13.06%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.73 EPS. analysts forecast that Southern Co will post 2.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 6th. Stockholders of record on Monday, August 20th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.24%. The ex-dividend date was Friday, August 17th. Southern’s payout ratio is presently 79.47%.
A number of research analysts have weighed in on SO shares. Deutsche Bank decreased their target price 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. TheStreet raised shares of Southern from a “c” rating to a “b-” rating in a research note on Monday, June 4th. Morgan Stanley decreased their target price on shares of Southern from $44.00 to $42.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 13th. Citigroup raised shares of Southern from a “sell” rating to a “neutral” rating and set a $44.00 price target on the stock in a research report on Friday, June 22nd. Finally, ValuEngine raised shares of Southern from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Southern has an average rating of “Hold” and an average target price of $47.66.
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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