QCI Asset Management Inc. NY trimmed its stake in Southern (NYSE:SO) by 91.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,421 shares of the utilities provider’s stock after selling 182,905 shares during the quarter. QCI Asset Management Inc. NY’s holdings in Southern were worth $733,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Confluence Investment Management LLC grew its holdings in Southern by 2.8% in the fourth quarter. Confluence Investment Management LLC now owns 2,050,249 shares of the utilities provider’s stock worth $98,596,000 after purchasing an additional 55,264 shares during the period. National Pension Service grew its holdings in shares of Southern by 3.7% during the fourth quarter. National Pension Service now owns 842,651 shares of the utilities provider’s stock valued at $40,523,000 after buying an additional 30,381 shares during the last quarter. Reilly Financial Advisors LLC grew its holdings in shares of Southern by 6.6% during the fourth quarter. Reilly Financial Advisors LLC now owns 47,328 shares of the utilities provider’s stock valued at $2,276,000 after buying an additional 2,930 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of Southern during the fourth quarter valued at about $3,776,000. Finally, WINTON GROUP Ltd grew its holdings in shares of Southern by 260.7% during the fourth quarter. WINTON GROUP Ltd now owns 158,362 shares of the utilities provider’s stock valued at $7,616,000 after buying an additional 114,456 shares during the last quarter. Institutional investors and hedge funds own 56.07% of the company’s stock.
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SO opened at $46.03 on Monday. The stock has a market capitalization of $46,565.08, a PE ratio of 15.24, a price-to-earnings-growth ratio of 3.54 and a beta of 0.01. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.70 and a quick ratio of 0.55. Southern has a twelve month low of $42.38 and a twelve month high of $53.51.
Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, May 2nd. The utilities provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.84 by $0.04. The company had revenue of $6.37 billion during the quarter, compared to analysts’ expectations of $5.98 billion. Southern had a net margin of 4.88% and a return on equity of 12.97%. Southern’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 earnings per share. equities research analysts anticipate that Southern will post 2.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 6th. Investors of record on Monday, May 21st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, May 18th. This represents a $2.40 annualized dividend and a yield of 5.21%. This is a boost from Southern’s previous quarterly dividend of $0.58. Southern’s payout ratio is currently 76.82%.
A number of research analysts have recently issued reports on SO shares. Zacks Investment Research upgraded shares of Southern from a “sell” rating to a “hold” rating in a report on Tuesday, April 24th. SunTrust Banks reissued a “hold” rating and set a $45.00 price target on shares of Southern in a research report on Tuesday, March 6th. JPMorgan Chase raised their price target on shares of Southern from $43.00 to $45.00 and gave the company an “underweight” rating in a research report on Tuesday, April 10th. Morgan Stanley lifted their price objective on shares of Southern from $44.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, April 16th. Finally, Goldman Sachs reaffirmed a “sell” rating on shares of Southern in a research report on Wednesday, January 10th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $49.17.
Southern Company Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.