Elkhorn Investments LLC trimmed its holdings in shares of Southern Co (NYSE:SO) by 10.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,338 shares of the utilities provider’s stock after selling 3,046 shares during the quarter. Elkhorn Investments LLC’s holdings in Southern were worth $1,236,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of SO. Commonwealth Bank of Australia increased its position in Southern by 1,565.3% during the third quarter. Commonwealth Bank of Australia now owns 1,738,380 shares of the utilities provider’s stock worth $59,048,000 after buying an additional 1,633,990 shares during the last quarter. Luminus Management LLC acquired a new position in Southern during the fourth quarter worth $70,674,000. Amundi Pioneer Asset Management Inc. acquired a new position in Southern during the fourth quarter worth $45,617,000. BlackRock Inc. increased its position in Southern by 1.3% during the fourth quarter. BlackRock Inc. now owns 62,955,468 shares of the utilities provider’s stock worth $3,027,527,000 after buying an additional 821,503 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in Southern during the fourth quarter worth $26,079,000. 56.44% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on SO shares. Mizuho reissued a “buy” rating and set a $55.00 target price on shares of Southern in a research report on Friday, December 8th. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Tuesday, December 12th. Royal Bank of Canada reissued a “buy” rating on shares of Southern in a research report on Friday, December 22nd. SunTrust Banks reissued a “hold” rating and set a $50.00 target price on shares of Southern in a research report on Tuesday, December 26th. Finally, Guggenheim reissued a “buy” rating and set a $52.00 target price on shares of Southern in a research report on Wednesday, January 3rd. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Southern currently has a consensus rating of “Hold” and an average price target of $49.41.
Southern (NYSE:SO) last released its earnings results on Wednesday, February 21st. The utilities provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. Southern had a return on equity of 11.96% and a net margin of 3.82%. The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the business earned $0.24 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. research analysts predict that Southern Co will post 2.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date of this dividend was Friday, February 16th. Southern’s dividend payout ratio (DPR) is presently 414.29%.
Southern Company Profile
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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