Reaves W H & Co. Inc. Buys 119,000 Shares of Southern Company (The) (SO)
Reaves W H & Co. Inc. raised its stake in Southern Company (The) (NYSE:SO) by 42.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 396,325 shares of the utilities provider’s stock after purchasing an additional 119,000 shares during the quarter. Reaves W H & Co. Inc.’s holdings in Southern were worth $19,475,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Chicago Partners Investment Group LLC bought a new stake in Southern in the second quarter valued at approximately $100,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Southern in the third quarter valued at approximately $105,000. Monroe Bank & Trust MI lifted its position in Southern by 17.9% in the second quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 350 shares during the last quarter. AlphaMark Advisors LLC lifted its position in Southern by 0.6% in the second quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 14 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its position in Southern by 15.3% in the first quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 53.78% of the company’s stock.
Southern Company (NYSE SO) traded down $0.27 on Friday, reaching $51.06. The company’s stock had a trading volume of 4,790,000 shares, compared to its average volume of 3,904,341. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73. The company has a market capitalization of $51,245.25, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 3.84 and a beta of 0.13. Southern Company has a twelve month low of $46.71 and a twelve month high of $53.51.
Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.16 billion. Southern had a return on equity of 10.81% and a net margin of 2.59%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.27 earnings per share. sell-side analysts predict that Southern Company will post 2.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th were issued a $0.58 dividend. The ex-dividend date of this dividend was Friday, November 17th. This represents a $2.32 dividend on an annualized basis and a yield of 4.54%. Southern’s dividend payout ratio (DPR) is 414.29%.
SO has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Southern from a “hold” rating to a “sell” rating in a report on Monday, September 11th. Guggenheim upgraded Southern from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $56.00 in a report on Thursday, September 14th. Mizuho upgraded Southern from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a report on Tuesday, September 5th. SunTrust Banks restated a “hold” rating and set a $52.00 target price on shares of Southern in a report on Friday, October 20th. Finally, KeyCorp restated a “hold” rating on shares of Southern in a report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. Southern presently has an average rating of “Hold” and a consensus target price of $49.85.
In other Southern news, insider Ann P. Daiss sold 5,080 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $53.28, for a total value of $270,662.40. Following the completion of the transaction, the insider now owns 7,474 shares in the company, valued at $398,214.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP James Y. Kerr II sold 25,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $52.16, for a total value of $1,304,000.00. Following the completion of the transaction, the vice president now owns 26,000 shares of the company’s stock, valued at approximately $1,356,160. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,813 shares of company stock valued at $11,029,988. 1.00% of the stock is owned by corporate insiders.
ILLEGAL ACTIVITY WARNING: This piece was posted by Watch List News and is owned by of Watch List News. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be read at https://www.watchlistnews.com/reaves-w-h-co-inc-buys-119000-shares-of-southern-company-the-so/1755994.html.
Southern Company Profile
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.
Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Company (The) (NYSE:SO).
Receive News & Ratings for Southern Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Company (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.