Rocky Mountain Advisers LLC reduced its position in Southern Co (NYSE:SO) by 44.4% during the second quarter, HoldingsChannel reports. The firm owned 11,125 shares of the utilities provider’s stock after selling 8,884 shares during the period. Southern comprises approximately 2.1% of Rocky Mountain Advisers LLC’s portfolio, making the stock its 11th largest holding. Rocky Mountain Advisers LLC’s holdings in Southern were worth $615,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of SO. 6 Meridian boosted its stake in Southern by 1.8% during the second quarter. 6 Meridian now owns 10,278 shares of the utilities provider’s stock worth $568,000 after acquiring an additional 181 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Southern by 0.8% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,452 shares of the utilities provider’s stock worth $1,296,000 after acquiring an additional 186 shares in the last quarter. Western Wealth Management LLC boosted its stake in Southern by 3.4% during the first quarter. Western Wealth Management LLC now owns 5,833 shares of the utilities provider’s stock worth $307,000 after acquiring an additional 193 shares in the last quarter. St. Johns Investment Management Company LLC boosted its stake in Southern by 1.9% during the second quarter. St. Johns Investment Management Company LLC now owns 10,573 shares of the utilities provider’s stock worth $584,000 after acquiring an additional 195 shares in the last quarter. Finally, Arvest Bank Trust Division boosted its stake in Southern by 1.4% during the second quarter. Arvest Bank Trust Division now owns 14,051 shares of the utilities provider’s stock worth $777,000 after acquiring an additional 198 shares in the last quarter. 56.59% of the stock is currently owned by institutional investors.
SO has been the topic of several research analyst reports. Evercore ISI raised shares of Southern from an “in-line” rating to an “outperform” rating in a research note on Friday, May 3rd. Mizuho increased their target price on shares of Southern from $48.50 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Zacks Investment Research lowered shares of Southern from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. KeyCorp initiated coverage on shares of Southern in a research note on Tuesday, June 4th. They set a “sector weight” rating on the stock. Finally, Credit Suisse Group set a $51.00 target price on shares of Southern and gave the stock a “sell” rating in a research note on Monday, April 22nd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Southern presently has a consensus rating of “Hold” and a consensus price target of $51.36.
Shares of Southern stock traded up $0.47 during trading hours on Wednesday, reaching $57.41. The company’s stock had a trading volume of 350,157 shares, compared to its average volume of 4,088,335. Southern Co has a one year low of $42.50 and a one year high of $57.75. The stock has a market cap of $59.67 billion, a P/E ratio of 18.67, a P/E/G ratio of 4.20 and a beta of 0.18. The business has a fifty day simple moving average of $55.92. The company has a quick ratio of 0.59, a current ratio of 0.76 and a debt-to-equity ratio of 1.33.
Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. Southern had a net margin of 20.18% and a return on equity of 10.04%. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same period last year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. As a group, equities analysts forecast that Southern Co will post 3.04 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Monday, August 19th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Friday, August 16th. Southern’s dividend payout ratio (DPR) is 80.78%.
In other news, CEO Mark A. Crosswhite sold 267,442 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $54.42, for a total value of $14,554,193.64. Following the completion of the sale, the chief executive officer now owns 125,727 shares in the company, valued at $6,842,063.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ann P. Daiss sold 3,786 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $54.42, for a total transaction of $206,034.12. Following the completion of the sale, the insider now owns 13,798 shares of the company’s stock, valued at approximately $750,887.16. The disclosure for this sale can be found here. Insiders sold 752,397 shares of company stock worth $41,381,702 over the last ninety days. Insiders own 0.88% of the company’s stock.
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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