Farmers & Merchants Investments Inc. reduced its holdings in Southern Co (NYSE:SO) by 34.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,818 shares of the utilities provider’s stock after selling 15,353 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Southern were worth $1,256,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Kaizen Advisory LLC raised its holdings in shares of Southern by 133.8% in the 2nd quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 1,307 shares in the last quarter. Destination Wealth Management grew its position in shares of Southern by 359.3% in the 2nd quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock worth $107,000 after buying an additional 1,811 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Southern in the 2nd quarter worth approximately $119,000. Horan Capital Advisors LLC. purchased a new position in shares of Southern in the 2nd quarter worth approximately $121,000. Finally, Sound Income Strategies LLC grew its position in shares of Southern by 83.5% in the 3rd quarter. Sound Income Strategies LLC now owns 2,855 shares of the utilities provider’s stock worth $124,000 after buying an additional 1,299 shares during the last quarter. 56.97% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the stock. Bank of America raised shares of Southern from an “underperform” rating to a “neutral” rating and set a $46.00 price objective on the stock in a research report on Wednesday, October 10th. SunTrust Banks reissued a “hold” rating and set a $48.00 target price on shares of Southern in a research report on Thursday, November 8th. Credit Suisse Group downgraded shares of Southern from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $46.00 to $43.00 in a research report on Thursday, August 9th. Scotiabank reissued a “hold” rating and set a $44.00 target price on shares of Southern in a research report on Thursday, August 9th. Finally, Barclays boosted their target price on shares of Southern from $48.00 to $49.00 and gave the stock a “hold” rating in a research report on Monday. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Southern presently has a consensus rating of “Hold” and a consensus price target of $46.32.
NYSE:SO traded down $1.03 during trading hours on Thursday, reaching $45.63. 6,920,840 shares of the company were exchanged, compared to its average volume of 6,515,593. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.58 and a current ratio of 0.72. The stock has a market capitalization of $48.01 billion, a PE ratio of 15.11, a P/E/G ratio of 3.42 and a beta of -0.09. Southern Co has a twelve month low of $42.38 and a twelve month high of $52.00.
Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, November 7th. The utilities provider reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.07. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.68 billion. Southern had a net margin of 10.35% and a return on equity of 12.88%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 earnings per share. Research analysts forecast that Southern Co will post 3.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Monday, November 19th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend is Friday, November 16th. Southern’s payout ratio is 79.47%.
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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.
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