Oakworth Capital Inc. boosted its position in shares of Southern Company (The) (NYSE:SO) by 13.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,515 shares of the utilities provider’s stock after acquiring an additional 5,028 shares during the period. Southern accounts for about 0.5% of Oakworth Capital Inc.’s investment portfolio, making the stock its 24th largest position. Oakworth Capital Inc.’s holdings in Southern were worth $2,003,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Southern by 2,961.9% during the 1st quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock valued at $3,089,736,000 after buying an additional 60,040,696 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Southern by 3,580.1% during the 2nd quarter. Janus Henderson Group PLC now owns 4,673,498 shares of the utilities provider’s stock valued at $223,766,000 after buying an additional 4,546,503 shares in the last quarter. Capital Research Global Investors grew its holdings in Southern by 25.3% during the 2nd quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after buying an additional 3,015,226 shares in the last quarter. Vanguard Group Inc. grew its holdings in Southern by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 68,758,138 shares of the utilities provider’s stock valued at $3,422,780,000 after buying an additional 2,688,854 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Southern by 3.6% during the 2nd quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock valued at $1,071,547,000 after buying an additional 770,413 shares in the last quarter. Institutional investors own 53.78% of the company’s stock.
A number of equities research analysts have issued reports on SO shares. Zacks Investment Research lowered shares of Southern from a “hold” rating to a “sell” rating in a report on Monday, September 11th. Guggenheim raised shares of Southern from a “neutral” rating to a “buy” rating and increased their price objective for the company from $49.00 to $56.00 in a report on Thursday, September 14th. Mizuho raised shares of Southern from a “neutral” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Tuesday, September 5th. SunTrust Banks reaffirmed a “hold” rating and set a $52.00 price objective on shares of Southern in a report on Friday, October 20th. Finally, KeyCorp reissued a “hold” rating on shares of Southern in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $49.92.
In related news, insider Ann P. Daiss sold 5,080 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $53.28, for a total value of $270,662.40. Following the completion of the sale, the insider now directly owns 7,474 shares in the company, valued at $398,214.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ann P. Daiss sold 5,000 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $52.28, for a total value of $261,400.00. Following the completion of the sale, the insider now owns 7,394 shares of the company’s stock, valued at $386,558.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,813 shares of company stock valued at $11,029,988. 0.74% of the stock is owned by corporate insiders.
Southern Company (NYSE:SO) traded down $0.49 during mid-day trading on Wednesday, hitting $51.19. 4,031,800 shares of the company were exchanged, compared to its average volume of 4,683,985. Southern Company has a 1 year low of $46.71 and a 1 year high of $53.51. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73. The stock has a market capitalization of $51,867.50, a price-to-earnings ratio of 18.79, a PEG ratio of 3.89 and a beta of 0.13.
Southern (NYSE:SO) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.16 billion. Southern had a net margin of 2.59% and a return on equity of 10.81%. Southern’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $1.27 earnings per share. research analysts anticipate that Southern Company will post 2.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 6th. Investors of record on Monday, November 20th were given a $0.58 dividend. The ex-dividend date of this dividend was Friday, November 17th. This represents a $2.32 dividend on an annualized basis and a yield of 4.53%. Southern’s dividend payout ratio is presently 414.29%.
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
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