Claraphi Advisory Network LLC Sells 8,641 Shares of Southern Co (SO)
Claraphi Advisory Network LLC decreased its holdings in shares of Southern Co (NYSE:SO) by 47.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,700 shares of the utilities provider’s stock after selling 8,641 shares during the quarter. Claraphi Advisory Network LLC’s holdings in Southern were worth $423,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Kaizen Advisory LLC lifted its stake in shares of Southern by 133.8% during the 2nd quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock worth $106,000 after buying an additional 1,307 shares during the last quarter. Destination Wealth Management lifted its stake in shares of Southern by 359.3% during the 2nd quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock worth $107,000 after buying an additional 1,811 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Southern during the 2nd quarter worth about $119,000. Horan Capital Advisors LLC. acquired a new stake in shares of Southern during the 2nd quarter worth about $121,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Southern by 83.5% during the 3rd quarter. Sound Income Strategies LLC now owns 2,855 shares of the utilities provider’s stock worth $124,000 after buying an additional 1,299 shares during the last quarter. Institutional investors and hedge funds own 57.31% of the company’s stock.
A number of analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Southern from a “buy” rating to a “hold” rating in a research note on Friday. Scotiabank restated a “sector perform” rating on shares of Southern in a research note on Tuesday, July 24th. ValuEngine cut shares of Southern from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Guggenheim cut shares of Southern from a “buy” rating to a “neutral” rating and cut their target price for the stock from $50.00 to $47.00 in a research note on Wednesday, August 8th. Finally, SunTrust Banks restated a “hold” rating and set a $48.00 target price on shares of Southern in a research note on Thursday, November 8th. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. Southern currently has an average rating of “Hold” and an average target price of $45.96.
Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, November 7th. The utilities provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. Southern had a net margin of 10.35% and a return on equity of 12.88%. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period last year, the firm earned $1.12 earnings per share. Southern’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts anticipate that Southern Co will post 3.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Monday, November 19th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend is Friday, November 16th. Southern’s dividend payout ratio is 79.47%.
Southern Company Profile
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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