Southern Co. to Issue Quarterly Dividend of $0.56 (SO)
Southern Co. (NYSE:SO) declared a quarterly dividend on Monday, October 17th. Investors of record on Monday, November 21st will be paid a dividend of 0.56 per share on Tuesday, December 6th. This represents a $2.24 dividend on an annualized basis and a yield of 4.43%.
Shares of Southern (NYSE:SO) traded up 0.26% during trading on Monday, reaching $50.69. The company had a trading volume of 3,027,443 shares. Southern has a 52 week low of $43.38 and a 52 week high of $54.64. The company has a market capitalization of $47.73 billion, a PE ratio of 20.12 and a beta of 0.08. The stock’s 50-day moving average price is $51.41 and its 200-day moving average price is $51.36.
Southern (NYSE:SO) last issued its earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. Southern had a return on equity of 12.50% and a net margin of 13.77%. The business earned $4.45 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the company earned $0.71 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts expect that Southern will post $2.86 EPS for the current fiscal year.
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Several research analysts have commented on the company. Zacks Investment Research upgraded Southern from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, September 27th. SunTrust Banks Inc. raised their target price on Southern from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, September 26th. Jefferies Group restated a “hold” rating on shares of Southern in a research note on Thursday, August 4th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $54.00 target price on shares of Southern in a research note on Thursday, July 14th. Finally, Barclays PLC upgraded Southern from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $54.00 to $62.00 in a research note 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 given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $53.50.
In other Southern news, EVP Christopher C. Womack sold 46,008 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $53.40, for a total value of $2,456,827.20. Following the transaction, the executive vice president now owns 56,149 shares in the company, valued at approximately $2,998,356.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Stan W. Connally sold 14,392 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $53.75, for a total transaction of $773,570.00. Following the completion of the transaction, the chief executive officer now owns 17,716 shares in the company, valued at approximately $952,235. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Krilogy Financial LLC raised its position in Southern by 87.8% in the second quarter. Krilogy Financial LLC now owns 2,066 shares of the company’s stock valued at $111,000 after buying an additional 966 shares in the last quarter. Loomis Sayles & Co. L P raised its position in Southern by 447.9% in the second quarter. Loomis Sayles & Co. L P now owns 2,471 shares of the company’s stock valued at $133,000 after buying an additional 2,020 shares in the last quarter. Sunbelt Securities Inc. raised its position in Southern by 9.7% in the second quarter. Sunbelt Securities Inc. now owns 3,440 shares of the company’s stock valued at $184,000 after buying an additional 303 shares in the last quarter. Seven Eight Capital LLC bought a new position in Southern during the second quarter valued at $184,000. Finally, Eagle Global Advisors LLC bought a new position in Southern during the second quarter valued at $201,000. Hedge funds and other institutional investors own 48.64% of the company’s stock.
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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