Fulcrum Capital LLC acquired a new stake in shares of Southern Co (NYSE:SO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 700 shares of the utilities provider’s stock, valued at approximately $2,206,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Lenox Wealth Advisors LLC purchased a new position in Southern during the third quarter valued at $25,000. KCS Wealth Advisory purchased a new position in shares of Southern in the third quarter worth about $25,000. Krane Funds Advisors LLC purchased a new position in shares of Southern in the second quarter worth about $25,000. Atlantic Trust LLC purchased a new position in shares of Southern in the second quarter worth about $28,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of Southern in the second quarter worth about $29,000. 58.51% of the stock is currently owned by institutional investors and hedge funds.
In other Southern news, CEO Stephen E. Kuczynski sold 123,533 shares of Southern stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $61.87, for a total transaction of $7,642,986.71. Following the completion of the sale, the chief executive officer now directly owns 191,305 shares in the company, valued at $11,836,040.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James Y. Kerr II sold 25,000 shares of Southern stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $60.16, for a total transaction of $1,504,000.00. Following the sale, the executive vice president now owns 67,655 shares of the company’s stock, valued at $4,070,124.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,533 shares of company stock valued at $10,941,987. Company insiders own 0.88% of the company’s stock.
Several research firms have recently weighed in on SO. Citigroup raised their price target on shares of Southern from $55.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. SunTrust Banks set a $59.00 price target on shares of Southern and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. UBS Group raised their price target on shares of Southern from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Morgan Stanley cut their price objective on shares of Southern from $55.00 to $54.00 and set an “underweight” rating for the company in a research report on Friday, August 16th. Finally, Bank of America raised their price objective on shares of Southern from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.80.
Southern stock traded down $1.21 during midday trading on Thursday, hitting $60.64. 208,283 shares of the stock were exchanged, compared to its average volume of 3,780,469. Southern Co has a fifty-two week low of $42.50 and a fifty-two week high of $63.09. The stock has a market capitalization of $64.75 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 4.45 and a beta of 0.15. The stock’s 50-day simple moving average is $61.55 and its 200 day simple moving average is $57.19. The company has a current ratio of 0.94, a quick ratio of 0.77 and a debt-to-equity ratio of 1.37.
Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.20. Southern had a net margin of 21.02% and a return on equity of 10.52%. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.01 billion. During the same period last year, the business earned $1.14 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts anticipate that Southern Co will post 3.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Friday, November 15th. Southern’s dividend payout ratio is presently 80.78%.
Southern Company Profile
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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