TD Asset Management Inc. reduced its stake in shares of Southern Co (NYSE:SO) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 664,556 shares of the utilities provider’s stock after selling 28,308 shares during the period. TD Asset Management Inc. owned 0.07% of Southern worth $28,975,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in SO. Kaizen Advisory LLC grew its stake 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 buying an additional 1,307 shares during the period. Destination Wealth Management grew its stake 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 valued at $107,000 after buying an additional 1,811 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Southern in the 2nd quarter valued at about $119,000. Horan Capital Advisors LLC. acquired a new stake in shares of Southern in the 2nd quarter valued at about $121,000. Finally, Sound Income Strategies LLC grew its stake 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 valued at $124,000 after buying an additional 1,299 shares during the period. 57.42% of the stock is owned by institutional investors and hedge funds.
In other Southern news, EVP Christopher C. Womack sold 16,371 shares of Southern stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $47.40, for a total transaction of $775,985.40. Following the completion of the transaction, the executive vice president now owns 10,165 shares in the company, valued at approximately $481,821. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is currently owned by insiders.
SO stock opened at $46.81 on Friday. The stock has a market cap of $47.67 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 3.46 and a beta of -0.09. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.68. Southern Co has a 52-week low of $42.38 and a 52-week high of $52.65.
Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, November 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.68 billion. Southern had a return on equity of 13.19% and a net margin of 10.35%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 EPS. On average, analysts forecast that Southern Co will post 3.02 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Monday, November 19th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, November 16th. This represents a $2.40 dividend on an annualized basis and a yield of 5.13%. Southern’s dividend payout ratio (DPR) is currently 79.47%.
SO has been the subject of several research reports. Morgan Stanley raised their target price on Southern from $42.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, July 16th. Howard Weil initiated coverage on Southern in a research note on Tuesday, July 24th. They issued a “sector perform” rating and a $45.00 target price for the company. Scotiabank restated a “sector perform” rating on shares of Southern in a research note on Tuesday, July 24th. SunTrust Banks restated a “hold” rating and issued a $50.00 target price on shares of Southern in a research note on Monday, August 6th. Finally, Citigroup downgraded Southern from a “neutral” rating to a “sell” rating and set a $45.00 target price for the company. in a research note on Wednesday, August 8th. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $45.96.
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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