Suntrust Banks Inc. lessened its holdings in shares of Southern Co (NYSE:SO) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 516,902 shares of the utilities provider’s stock after selling 25,710 shares during the quarter. Suntrust Banks Inc.’s holdings in Southern were worth $24,857,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. Dynamic Advisors Solutions LLC lifted its stake in shares of Southern by 3.0% during the 4th quarter. Dynamic Advisors Solutions LLC now owns 44,750 shares of the utilities provider’s stock worth $2,152,000 after purchasing an additional 1,324 shares during the period. Baird Financial Group Inc. raised its position in shares of Southern by 2.8% in the 4th quarter. Baird Financial Group Inc. now owns 172,277 shares of the utilities provider’s stock worth $8,285,000 after buying an additional 4,743 shares during the period. Smith Moore & CO. raised its position in shares of Southern by 10.8% in the 4th quarter. Smith Moore & CO. now owns 14,780 shares of the utilities provider’s stock worth $711,000 after buying an additional 1,445 shares during the period. Norinchukin Bank The raised its position in shares of Southern by 4.8% in the 4th quarter. Norinchukin Bank The now owns 132,055 shares of the utilities provider’s stock worth $6,351,000 after buying an additional 6,002 shares during the period. Finally, American International Group Inc. raised its position in shares of Southern by 8.3% in the 4th quarter. American International Group Inc. now owns 322,638 shares of the utilities provider’s stock worth $15,516,000 after buying an additional 24,644 shares during the period. 53.87% of the stock is currently owned by institutional investors.
Shares of Southern Co (NYSE SO) opened at $43.45 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73. The firm has a market capitalization of $44,089.38, a PE ratio of 77.63, a PEG ratio of 3.26 and a beta of 0.03. Southern Co has a 52 week low of $42.63 and a 52 week high of $53.51.
Southern (NYSE:SO) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.17 billion. Southern had a return on equity of 10.81% and a net margin of 2.59%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $0.24 earnings per share. sell-side analysts predict that Southern Co will post 2.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 20th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.32 annualized dividend and a dividend yield of 5.34%. Southern’s dividend payout ratio is presently 414.29%.
Several research analysts recently weighed in on SO shares. Zacks Investment Research lowered Southern from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. SunTrust Banks set a $46.00 target price on Southern and gave the stock a “hold” rating in a research report on Monday, February 12th. Mizuho lowered Southern from a “buy” rating to a “neutral” rating and set a $44.50 target price on the stock. in a research report on Tuesday, January 23rd. Royal Bank of Canada reaffirmed a “buy” rating on shares of Southern in a research report on Friday, December 22nd. Finally, UBS Group started coverage on Southern in a research report on Friday, February 2nd. They issued a “neutral” rating and a $46.00 price objective on the stock. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $50.03.
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Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
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