Southern Co (NYSE:SO) insider Ann P. Daiss sold 7,850 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $54.06, for a total value of $424,371.00. Following the transaction, the insider now owns 17,862 shares in the company, valued at $965,619.72. The sale was disclosed in a document filed with the SEC, which is available at this link.
SO stock opened at $53.63 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 1.37. The stock has a market cap of $56.28 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 3.97 and a beta of 0.21. Southern Co has a twelve month low of $42.42 and a twelve month high of $54.14.
Southern (NYSE:SO) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.70 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.70. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.66 billion. Southern had a return on equity of 10.37% and a net margin of 15.03%. The company’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 EPS. Sell-side analysts expect that Southern Co will post 3.03 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Monday, May 20th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Friday, May 17th. This is a positive change from Southern’s previous quarterly dividend of $0.60. Southern’s payout ratio is presently 78.18%.
Hedge funds have recently bought and sold shares of the business. Neuberger Berman Group LLC grew its holdings in shares of Southern by 233.3% during the third quarter. Neuberger Berman Group LLC now owns 202,442 shares of the utilities provider’s stock worth $8,826,000 after purchasing an additional 141,696 shares in the last quarter. Morgan Stanley grew its holdings in shares of Southern by 17.3% during the third quarter. Morgan Stanley now owns 5,781,699 shares of the utilities provider’s stock worth $252,083,000 after purchasing an additional 852,234 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of Southern by 1.7% during the third quarter. Vanguard Group Inc now owns 77,467,557 shares of the utilities provider’s stock worth $3,377,586,000 after purchasing an additional 1,324,658 shares in the last quarter. Cerebellum GP LLC grew its holdings in shares of Southern by 28.6% during the fourth quarter. Cerebellum GP LLC now owns 5,361 shares of the utilities provider’s stock worth $235,000 after purchasing an additional 1,191 shares in the last quarter. Finally, Waverton Investment Management Ltd grew its holdings in shares of Southern by 10.5% during the fourth quarter. Waverton Investment Management Ltd now owns 13,647 shares of the utilities provider’s stock worth $420,000 after purchasing an additional 1,302 shares in the last quarter. 56.59% of the stock is owned by institutional investors and hedge funds.
SO has been the topic of several recent analyst reports. Zacks Investment Research cut Southern from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Evercore ISI upgraded Southern from an “in-line” rating to an “outperform” rating in a research note on Friday, May 3rd. restated a “sell” rating on shares of Southern in a research note on Wednesday, February 13th. Citigroup upgraded Southern from a “sell” rating to a “neutral” rating and raised their price objective for the company from $45.00 to $50.00 in a research note on Thursday, January 24th. Finally, SunTrust Banks restated a “hold” rating and set a $52.00 price objective on shares of Southern in a research note on Monday, February 25th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $48.15.
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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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