Successful Portfolios LLC boosted its position in Southern Co (NYSE:SO) by 17.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,830 shares of the utilities provider’s stock after acquiring an additional 1,428 shares during the period. Successful Portfolios LLC’s holdings in Southern were worth $607,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Southern by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 88,169,680 shares of the utilities provider’s stock worth $4,874,020,000 after acquiring an additional 2,923,497 shares during the period. BlackRock Inc. grew its stake in Southern by 2.2% in the 2nd quarter. BlackRock Inc. now owns 70,040,340 shares of the utilities provider’s stock worth $3,871,830,000 after acquiring an additional 1,479,813 shares during the period. FMR LLC grew its stake in Southern by 24.1% in the 1st quarter. FMR LLC now owns 12,907,022 shares of the utilities provider’s stock worth $667,035,000 after acquiring an additional 2,503,587 shares during the period. Northern Trust Corp grew its stake in Southern by 2.8% in the 2nd quarter. Northern Trust Corp now owns 12,493,021 shares of the utilities provider’s stock worth $690,614,000 after acquiring an additional 344,398 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Southern by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,132,966 shares of the utilities provider’s stock worth $670,710,000 after acquiring an additional 64,362 shares during the period. 58.36% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE SO traded down $0.28 during trading on Friday, hitting $61.52. 325,532 shares of the company traded hands, compared to its average volume of 4,194,808. Southern Co has a 1 year low of $42.50 and a 1 year high of $62.36. The company has a 50-day moving average price of $60.14 and a 200-day moving average price of $55.89. The firm has a market capitalization of $63.83 billion, a P/E ratio of 20.04, a P/E/G ratio of 4.48 and a beta of 0.16. 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 announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.08. Southern had a net margin of 20.18% and a return on equity of 10.04%. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same period in the previous year, the company earned $0.80 EPS. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. Research analysts predict that Southern Co will post 3.04 EPS for the current fiscal year.
In related news, CEO Stephen E. Kuczynski sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $58.28, for a total transaction of $116,560.00. Following the completion of the sale, the chief executive officer now directly owns 69,772 shares of the company’s stock, valued at approximately $4,066,312.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James Y. Kerr II sold 25,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $58.16, for a total transaction of $1,454,000.00. Following the sale, the executive vice president now directly owns 67,655 shares of the company’s stock, valued at $3,934,814.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,533 shares of company stock valued at $12,386,567. 0.88% of the stock is owned by corporate insiders.
Several analysts have recently issued reports on SO shares. Bank of America boosted their price objective on shares of Southern from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Barclays reissued a “hold” rating and set a $57.00 price objective on shares of Southern in a research note on Wednesday, June 19th. UBS Group boosted their price objective on shares of Southern from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. ValuEngine cut shares of Southern from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, SunTrust Banks set a $59.00 price objective on shares of Southern and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. Southern presently has a consensus rating of “Hold” and an average price target of $55.70.
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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