Southern Company (The) (SO) Insider Sells $2,464,402.50 in Stock
Southern Company (The) (NYSE:SO) insider Art P. Beattie sold 46,941 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $52.50, for a total transaction of $2,464,402.50. Following the sale, the insider now directly owns 59,494 shares in the company, valued at $3,123,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Southern Company (NYSE:SO) remained flat at $52.09 during trading on Monday. 3,346,010 shares of the company traded hands. The stock has a market cap of $52.06 billion, a price-to-earnings ratio of 85.67 and a beta of 0.13. The firm has a 50-day moving average of $50.26 and a 200-day moving average of $49.50. Southern Company has a 12 month low of $46.20 and a 12 month high of $52.59.
Southern Company (The) (NYSE:SO) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.23 billion. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The firm’s revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. Analysts expect that Southern Company will post $2.94 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Monday, November 20th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 4.45%. The ex-dividend date is Friday, November 17th. Southern Company (The)’s payout ratio is presently 346.27%.
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Several equities research analysts have commented on the stock. Bank of America Corporation reaffirmed an “underperform” rating and issued a $51.00 price target on shares of Southern Company (The) in a report on Tuesday, October 24th. Zacks Investment Research downgraded shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $52.00 price objective on shares of Southern Company (The) in a research report on Friday, October 20th. Jefferies Group LLC reiterated a “buy” rating and issued a $56.00 price objective (up previously from $55.00) on shares of Southern Company (The) in a research report on Tuesday, September 12th. Finally, Credit Suisse Group upgraded shares of Southern Company (The) from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $49.72.
A number of hedge funds have recently made changes to their positions in SO. Chicago Partners Investment Group LLC acquired a new position in Southern Company (The) during the second quarter valued at approximately $100,000. Symmetry Partners LLC acquired a new stake in shares of Southern Company (The) in the first quarter worth $103,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Southern Company (The) in the third quarter worth $105,000. Monroe Bank & Trust MI grew its stake in shares of Southern Company (The) by 17.9% in the second quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 350 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. grew its stake in shares of Southern Company (The) by 358.8% in the first quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock worth $111,000 after acquiring an additional 1,740 shares during the last quarter. Institutional investors own 53.14% of the company’s stock.
About Southern Company (The)
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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