Wade G W & Inc. Acquires 970 Shares of Southern Company (The) (SO)
Wade G W & Inc. lifted its holdings in shares of Southern Company (The) (NYSE:SO) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,155 shares of the utilities provider’s stock after purchasing an additional 970 shares during the quarter. Wade G W & Inc.’s holdings in Southern were worth $6,199,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in SO. Chicago Partners Investment Group LLC bought a new position in shares of Southern during the second quarter worth approximately $100,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Southern during the third quarter worth approximately $105,000. Monroe Bank & Trust MI boosted its position in shares of Southern by 17.9% during the 2nd quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 350 shares in the last quarter. AlphaMark Advisors LLC boosted its position in shares of Southern by 0.6% during the 2nd quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock worth $113,000 after acquiring an additional 14 shares in the last quarter. Finally, Barnett & Company Inc. boosted its position in shares of Southern by 25.0% during the 2nd quarter. Barnett & Company Inc. now owns 2,725 shares of the utilities provider’s stock worth $130,000 after acquiring an additional 545 shares in the last quarter. 53.78% of the stock is currently owned by institutional investors.
In other Southern news, VP James Y. Kerr II sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $52.16, for a total value of $1,304,000.00. Following the sale, the vice president now owns 26,000 shares in the company, valued at $1,356,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $4,257,550.00. 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. Company insiders own 1.00% of the company’s stock.
Shares of Southern Company (NYSE:SO) traded down $0.16 during trading on Friday, reaching $51.52. 4,534,800 shares of the company’s stock were exchanged, compared to its average volume of 4,685,160. Southern Company has a 1 year low of $46.71 and a 1 year high of $53.51. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57. The firm has a market capitalization of $51,867.50, a price-to-earnings ratio of 18.79, a P/E/G ratio of 3.89 and a beta of 0.13.
Southern (NYSE:SO) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Southern had a net margin of 2.59% and a return on equity of 10.81%. The firm had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same quarter last year, the business posted $1.27 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. research analysts expect that Southern Company will post 2.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th were given 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 4.50%. Southern’s dividend payout ratio is currently 414.29%.
Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Southern from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Bank of America reiterated an “underperform” rating and set a $51.00 price target on shares of Southern in a research report on Tuesday, October 24th. SunTrust Banks reiterated a “hold” rating and set a $52.00 price target on shares of Southern in a research report on Friday, October 20th. Mizuho reiterated a “buy” rating and set a $55.00 price target on shares of Southern in a research report on Friday, December 8th. Finally, Jefferies Group reiterated a “buy” rating and set a $56.00 price target (up previously from $55.00) on shares of Southern in a research report on Tuesday, September 12th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $49.92.
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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