New York State Teachers Retirement System boosted its stake in shares of Southern Co (NYSE:SO) by 0.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,450,450 shares of the utilities provider’s stock after buying an additional 919 shares during the quarter. New York State Teachers Retirement System’s holdings in Southern were worth $74,959,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of SO. Tompkins Financial Corp purchased a new stake in Southern in the 1st quarter worth approximately $28,000. Lee Financial Co lifted its holdings in Southern by 144.4% in the 1st quarter. Lee Financial Co now owns 550 shares of the utilities provider’s stock worth $28,000 after buying an additional 325 shares during the period. Sontag Advisory LLC purchased a new stake in Southern in the 4th quarter worth approximately $25,000. Vigilant Capital Management LLC purchased a new stake in Southern in the 4th quarter worth approximately $30,000. Finally, Gemmer Asset Management LLC lifted its holdings in Southern by 58.0% in the 1st quarter. Gemmer Asset Management LLC now owns 681 shares of the utilities provider’s stock worth $35,000 after buying an additional 250 shares during the period. Institutional investors own 56.59% of the company’s stock.
Several brokerages have recently issued reports on SO. Zacks Investment Research lowered Southern from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine raised Southern from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Credit Suisse Group set a $51.00 target price on Southern and gave the stock a “sell” rating in a research report on Monday, April 22nd. reissued a “sell” rating on shares of Southern in a research report on Wednesday, February 13th. Finally, SunTrust Banks reissued a “hold” rating and issued a $52.00 target price on shares of Southern in a research report on Monday, February 25th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $48.15.
In related news, insider Ann P. Daiss sold 7,850 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $54.06, for a total transaction of $424,371.00. Following the completion of the transaction, the insider now owns 17,862 shares of the company’s stock, valued at approximately $965,619.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christopher C. Womack sold 18,922 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $50.36, for a total value of $952,911.92. Following the transaction, the executive vice president now directly owns 10,165 shares of the company’s stock, valued at approximately $511,909.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 267,249 shares of company stock valued at $13,714,078. 0.73% of the stock is owned by corporate insiders.
Shares of NYSE:SO opened at $54.06 on Friday. Southern Co has a 52-week low of $42.42 and a 52-week high of $54.28. The company has a market capitalization of $55.80 billion, a PE ratio of 17.61, a PEG ratio of 3.94 and a beta of 0.21. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.88 and a quick ratio of 0.69.
Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.70 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.70. Southern had a return on equity of 10.37% and a net margin of 15.03%. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the company earned $0.88 EPS. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. Equities research analysts forecast that Southern Co will post 3.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Southern’s previous quarterly dividend of $0.60. Southern’s dividend payout ratio (DPR) is 78.18%.
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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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