Southern Co. (SO) Short Interest Update
Southern Co. (NYSE:SO) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 19,557,221 shares, a growth of 28.9% from the September 15th total of 15,177,071 shares. Based on an average daily volume of 6,123,648 shares, the short-interest ratio is currently 3.2 days. Approximately 2.0% of the company’s stock are short sold.
A number of equities analysts have recently weighed in on the company. Jefferies Group restated a “hold” rating on shares of Southern in a research note on Monday, July 11th. Mizuho reaffirmed a “hold” rating and issued a $50.00 price target on shares of Southern in a report on Monday, July 11th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $54.00 price target on shares of Southern in a report on Thursday, July 14th. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, September 27th. Finally, Barclays PLC raised shares of Southern from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $54.00 to $62.00 in a report on Thursday, July 14th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.50.
Southern (NYSE:SO) opened at 50.56 on Monday. The stock has a 50 day moving average of $51.41 and a 200 day moving average of $51.36. The company has a market cap of $47.61 billion, a PE ratio of 20.07 and a beta of 0.08. Southern has a 12-month low of $43.38 and a 12-month high of $54.64.
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Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. Southern had a net margin of 13.77% and a return on equity of 12.50%. The firm had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts expect that Southern will post $2.86 earnings per share for the current year.
In other news, CEO Stan W. Connally sold 14,392 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $53.75, for a total value of $773,570.00. Following the transaction, the chief executive officer now owns 17,716 shares in the company, valued at approximately $952,235. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher C. Womack sold 46,008 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $53.40, for a total value of $2,456,827.20. Following the completion of the transaction, the executive vice president now owns 56,149 shares in the company, valued at approximately $2,998,356.60. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Windward Capital Management Co. CA boosted its stake in Southern by 71.4% in the third quarter. Windward Capital Management Co. CA now owns 8,601 shares of the company’s stock worth $441,000 after buying an additional 3,584 shares during the last quarter. Advisor Consultant Network Inc. purchased a new stake in Southern during the third quarter worth approximately $296,000. Pennsylvania Trust Co boosted its stake in Southern by 0.4% in the third quarter. Pennsylvania Trust Co now owns 24,656 shares of the company’s stock worth $1,265,000 after buying an additional 105 shares during the last quarter. Harwood Advisory Group LLC boosted its stake in Southern by 18.8% in the third quarter. Harwood Advisory Group LLC now owns 29,933 shares of the company’s stock worth $1,536,000 after buying an additional 4,743 shares during the last quarter. Finally, Gierl Augustine Investment Management Inc boosted its stake in Southern by 5.9% in the third quarter. Gierl Augustine Investment Management Inc now owns 60,515 shares of the company’s stock worth $3,104,000 after buying an additional 3,357 shares during the last quarter. Hedge funds and other institutional investors own 48.64% of the company’s stock.
Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.
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