Tiverton Asset Management LLC trimmed its holdings in Southern (NYSE:SO) by 39.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,616 shares of the utilities provider’s stock after selling 3,070 shares during the period. Tiverton Asset Management LLC’s holdings in Southern were worth $206,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of SO. Taylor Hoffman Wealth Management acquired a new stake in Southern in the 4th quarter worth about $104,000. We Are One Seven LLC acquired a new stake in Southern in the 4th quarter worth about $106,000. Jacobi Capital Management LLC boosted its stake in Southern by 47.2% in the 1st quarter. Jacobi Capital Management LLC now owns 3,743 shares of the utilities provider’s stock worth $165,000 after buying an additional 1,201 shares during the last quarter. Global Trust Asset Management LLC acquired a new stake in Southern in the 4th quarter worth about $170,000. Finally, Bedel Financial Consulting Inc. acquired a new stake in Southern in the 1st quarter worth about $174,000. 56.04% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. ValuEngine lowered Southern from a “hold” rating to a “sell” rating in a research note on Tuesday, May 8th. Credit Suisse Group raised their price objective on Southern to $45.00 and gave the stock a “neutral” rating in a report on Monday, May 7th. Zacks Investment Research upgraded Southern from a “sell” rating to a “hold” rating in a report on Tuesday, May 1st. Morgan Stanley raised their price objective on Southern from $44.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, April 16th. Finally, JPMorgan Chase raised their price objective on Southern from $43.00 to $45.00 and gave the stock an “underweight” rating in a report on Tuesday, April 10th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Southern has a consensus rating of “Hold” and an average target price of $49.17.
Shares of NYSE:SO opened at $42.73 on Friday. The stock has a market cap of $44.13 billion, a P/E ratio of 13.46, a P/E/G ratio of 3.35 and a beta of 0.01. The company has a current ratio of 0.70, a quick ratio of 0.55 and a debt-to-equity ratio of 1.71. Southern has a one year low of $42.38 and a one year high of $53.51.
Southern (NYSE:SO) last announced its earnings results on Wednesday, May 2nd. The utilities provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.84 by $0.04. The business had revenue of $6.37 billion for the quarter, compared to the consensus estimate of $5.98 billion. Southern had a return on equity of 12.97% and a net margin of 4.88%. The company’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. equities analysts forecast that Southern will post 2.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 6th. Investors of record on Monday, May 21st will be issued a dividend of $0.60 per share. This is an increase from Southern’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend is Friday, May 18th. Southern’s dividend payout ratio (DPR) is presently 76.82%.
Southern Company Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.
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