Doyle Wealth Management Has $4.18 Million Holdings in Southern Company (The) (SO)
Doyle Wealth Management raised its holdings in shares of Southern Company (The) (NYSE:SO) by 9.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,078 shares of the utilities provider’s stock after purchasing an additional 7,661 shares during the period. Doyle Wealth Management’s holdings in Southern were worth $4,181,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Captrust Financial Advisors bought a new position in shares of Southern during the second quarter valued at approximately $854,000. Fiera Capital Corp increased its position in shares of Southern by 4.3% during the second quarter. Fiera Capital Corp now owns 34,294 shares of the utilities provider’s stock valued at $1,642,000 after acquiring an additional 1,399 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its position in shares of Southern by 1.2% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,317 shares of the utilities provider’s stock valued at $159,000 after acquiring an additional 38 shares in the last quarter. Pathstone Family Office LLC bought a new stake in shares of Southern during the first quarter valued at approximately $170,000. Finally, Epoch Investment Partners Inc. increased its position in shares of Southern by 5.0% during the first quarter. Epoch Investment Partners Inc. now owns 3,249,597 shares of the utilities provider’s stock valued at $161,765,000 after acquiring an additional 154,093 shares in the last quarter. 52.64% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $53.00 price target on shares of Southern in a research report on Monday, July 31st. J P Morgan Chase & Co assumed coverage on shares of Southern in a research report on Tuesday, August 8th. They set an “overweight” rating and a $16.78 price target for the company. BidaskClub downgraded shares of Southern from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Credit Suisse Group raised shares of Southern from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 3rd. Finally, Deutsche Bank AG raised shares of Southern from a “hold” rating to a “buy” rating and raised their price target for the company from $50.00 to $52.00 in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $49.72.
In related news, CEO William P. Bowers sold 85,151 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $50.00, for a total value of $4,257,550.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP James Y. Kerr II sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $52.16, for a total transaction of $1,304,000.00. Following the completion of the sale, the vice president now owns 26,000 shares in the company, valued at approximately $1,356,160. The disclosure for this sale can be found here. Insiders sold 213,813 shares of company stock worth $11,029,988 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.
Shares of Southern Company (NYSE:SO) traded up $0.03 during mid-day trading on Monday, reaching $51.39. 1,155,700 shares of the company traded hands, compared to its average volume of 4,670,998. Southern Company has a 52 week low of $46.20 and a 52 week high of $53.51. The company has a quick ratio of 0.57, a current ratio of 0.73 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $51,576.44, a PE ratio of 18.69, a P/E/G ratio of 4.64 and a beta of 0.15.
Southern (NYSE:SO) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Southern had a net margin of 2.59% and a return on equity of 10.81%. The company had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter last year, the company posted $1.27 earnings per share. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. analysts predict that Southern Company will post 2.95 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Monday, November 20th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 4.51%. The ex-dividend date is Friday, November 17th. Southern’s dividend payout ratio is currently 414.29%.
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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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