Steinberg Global Asset Management boosted its position in shares of Southern Co (NYSE:SO) by 511.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 122,835 shares of the utilities provider’s stock after purchasing an additional 102,760 shares during the quarter. Steinberg Global Asset Management’s holdings in Southern were worth $5,486,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sontag Advisory LLC acquired a new position in shares of Southern in the fourth quarter valued at about $25,000. Vigilant Capital Management LLC acquired a new position in shares of Southern in the fourth quarter valued at about $30,000. Parkside Financial Bank & Trust grew its stake in Southern by 38.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 798 shares of the utilities provider’s stock worth $35,000 after buying an additional 220 shares in the last quarter. Liberty Wealth Management LLC acquired a new stake in Southern during the fourth quarter worth about $35,000. Finally, Lindbrook Capital LLC acquired a new stake in Southern during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 56.48% of the company’s stock.
Shares of SO traded down $0.66 during mid-day trading on Wednesday, reaching $52.20. The company had a trading volume of 3,795,935 shares, compared to its average volume of 4,829,967. The company has a market cap of $55.01 billion, a P/E ratio of 17.00, a PEG ratio of 3.91 and a beta of 0.21. Southern Co has a 1-year low of $42.42 and a 1-year high of $53.40. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 1.37.
Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.66 billion. Southern had a net margin of 15.03% and a return on equity of 10.37%. The firm’s quarterly revenue was down 15.1% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. On average, equities analysts forecast that Southern Co will post 3.03 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Southern’s previous quarterly dividend of $0.60. Southern’s dividend payout ratio (DPR) is 78.18%.
In other Southern news, CEO Stephen E. Kuczynski sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $51.68, for a total transaction of $361,760.00. Following the completion of the transaction, the chief executive officer now owns 77,772 shares in the company, valued at approximately $4,019,256.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William P. Bowers sold 233,477 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $51.29, for a total transaction of $11,975,035.33. Following the transaction, the chief executive officer now owns 354,212 shares of the company’s stock, valued at approximately $18,167,533.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 292,399 shares of company stock valued at $14,923,207. 0.73% of the stock is owned by company insiders.
A number of equities research analysts have issued reports on SO shares. Zacks Investment Research upgraded shares of Southern from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Tuesday, January 15th. ValuEngine upgraded shares of Southern from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. SunTrust Banks reiterated a “hold” rating and set a $52.00 price objective on shares of Southern in a research note on Monday, February 25th. Citigroup upgraded shares of Southern from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $45.00 to $50.00 in a research note on Thursday, January 24th. Finally, Evercore ISI upgraded shares of Southern from an “in-line” rating to an “outperform” rating in a research note on Friday, May 3rd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company’s stock. Southern has a consensus rating of “Hold” and an average price target of $47.54.
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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