Lakeview Capital Partners LLC lifted its stake in shares of Southern Co (NYSE:SO) by 18.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,642 shares of the utilities provider’s stock after acquiring an additional 6,059 shares during the period. Southern accounts for about 1.2% of Lakeview Capital Partners LLC’s portfolio, making the stock its 15th largest position. Lakeview Capital Partners LLC’s holdings in Southern were worth $2,095,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its holdings in Southern by 1,658.7% during the second quarter. Nordea Investment Management AB now owns 2,964,098 shares of the utilities provider’s stock worth $152,652,000 after buying an additional 2,795,556 shares during the last quarter. FMR LLC raised its holdings in Southern by 11.0% during the second quarter. FMR LLC now owns 14,378,464 shares of the utilities provider’s stock worth $745,524,000 after buying an additional 1,420,920 shares during the last quarter. Federated Hermes Inc. raised its holdings in Southern by 24.1% during the second quarter. Federated Hermes Inc. now owns 6,561,931 shares of the utilities provider’s stock worth $340,236,000 after buying an additional 1,274,233 shares during the last quarter. APG Asset Management N.V. raised its holdings in Southern by 43.2% during the first quarter. APG Asset Management N.V. now owns 3,848,778 shares of the utilities provider’s stock worth $208,373,000 after buying an additional 1,161,563 shares during the last quarter. Finally, Advisor Group Holdings Inc. acquired a new position in Southern during the first quarter worth $33,369,000. Institutional investors own 57.29% of the company’s stock.
In other Southern news, Director David J. Grain sold 10,291 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $52.92, for a total transaction of $544,599.72. Following the sale, the director now directly owns 791 shares of the company’s stock, valued at $41,859.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Stephen E. Kuczynski sold 2,500 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $55.00, for a total transaction of $137,500.00. Over the last ninety days, insiders have sold 23,721 shares of company stock worth $1,301,040. Insiders own 0.39% of the company’s stock.
SO has been the topic of several research reports. Morgan Stanley upped their price objective on shares of Southern from $56.00 to $57.00 and gave the stock an “underweight” rating in a report on Monday, October 5th. KeyCorp reduced their target price on shares of Southern from $71.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. UBS Group reduced their target price on shares of Southern from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, September 1st. Barclays upgraded shares of Southern from an “equal weight” rating to an “overweight” rating and set a $61.00 target price for the company in a research note on Monday, September 21st. Finally, Mizuho lowered shares of Southern from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $53.00 to $48.00 in a research note on Thursday, September 10th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Southern has a consensus rating of “Hold” and a consensus price target of $61.90.
SO traded up $0.33 during trading on Friday, hitting $58.35. 3,241,617 shares of the company traded hands, compared to its average volume of 5,068,811. The firm has a market cap of $61.63 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 4.10 and a beta of 0.39. The stock’s fifty day moving average is $54.22 and its 200 day moving average is $54.71. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.46. Southern Co has a one year low of $41.96 and a one year high of $71.10.
Southern (NYSE:SO) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.11. The company had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.93 billion. Southern had a net margin of 15.83% and a return on equity of 10.47%. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. On average, equities research analysts forecast that Southern Co will post 3.16 EPS for the current fiscal year.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. 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, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.
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