Chemung Canal Trust Co. Has $3.25 Million Holdings in Southern Co (SO)
Chemung Canal Trust Co. decreased its holdings in Southern Co (NYSE:SO) by 4.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,907 shares of the utilities provider’s stock after selling 3,233 shares during the quarter. Chemung Canal Trust Co.’s holdings in Southern were worth $3,251,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Sontag Advisory LLC bought a new position in Southern in the 4th quarter valued at about $25,000. Vigilant Capital Management LLC bought a new position in Southern in the 4th quarter valued at about $30,000. Trust Department MB Financial Bank N A increased its holdings in Southern by 49.0% in the 1st quarter. Trust Department MB Financial Bank N A now owns 766 shares of the utilities provider’s stock valued at $40,000 after buying an additional 252 shares during the period. Parkside Financial Bank & Trust increased its holdings in Southern by 38.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 798 shares of the utilities provider’s stock valued at $35,000 after buying an additional 220 shares during the period. Finally, Liberty Wealth Management LLC bought a new position in Southern in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 56.84% of the company’s stock.
SO has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Saturday, January 5th. reissued a “sell” rating on shares of Southern in a report on Wednesday, February 13th. ValuEngine raised shares of Southern from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Guggenheim reissued a “hold” rating and issued a $44.00 target price on shares of Southern in a report on Monday, January 7th. Finally, SunTrust Banks reissued a “hold” rating and issued a $47.00 target price on shares of Southern in a report on Monday, January 7th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.00.
Shares of Southern stock traded down $0.17 during midday trading on Wednesday, hitting $51.78. 245,666 shares of the company traded hands, compared to its average volume of 5,026,363. The firm has a market capitalization of $53.44 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 3.79 and a beta of 0.20. The company has a current ratio of 0.67, a quick ratio of 0.54 and a debt-to-equity ratio of 1.40. Southern Co has a 12 month low of $42.42 and a 12 month high of $52.65.
Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, February 20th. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.88 billion. Southern had a net margin of 9.54% and a return on equity of 11.39%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. As a group, research analysts anticipate that Southern Co will post 3.03 earnings per share for the current 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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