Investors Buy Southern Co. (SO) on Weakness
Traders bought shares of Southern Co. (NYSE:SO) on weakness during trading hours on Monday. $68.63 million flowed into the stock on the tick-up and $44.41 million flowed out of the stock on the tick-down, for a money net flow of $24.22 million into the stock. Of all equities tracked, Southern had the 12th highest net in-flow for the day. Southern traded down ($0.35) for the day and closed at $53.79
SO has been the topic of several analyst reports. Mizuho reaffirmed a “hold” rating on shares of Southern in a research report on Monday. BMO Capital Markets reissued a “hold” rating on shares of Southern in a research report on Thursday, April 28th. Jefferies Group reissued a “hold” rating on shares of Southern in a research report on Monday. Scotiabank reissued a “sector perform” rating and issued a $52.00 price objective on shares of Southern in a research report on Saturday, May 14th. Finally, SunTrust Banks Inc. boosted their price objective on Southern from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, March 14th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Southern currently has an average rating of “Hold” and a consensus price target of $50.35.
The company has a market cap of $49.39 billion and a P/E ratio of 21.02. The stock’s 50 day moving average price is $51.16 and its 200-day moving average price is $49.63.
Southern (NYSE:SO) last issued its earnings results on Wednesday, April 27th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. During the same period last year, the firm posted $0.56 earnings per share. The firm earned $3.97 billion during the quarter, compared to the consensus estimate of $4.25 billion. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that Southern Co. will post $2.85 earnings per share for the current year.
In other news, insider Ann P. Daiss sold 7,000 shares of Southern stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $52.28, for a total value of $365,960.00. Following the sale, the insider now directly owns 9,394 shares of the company’s stock, valued at $491,118.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen E. Kuczynski sold 182,225 shares of Southern stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $49.77, for a total value of $9,069,338.25. Following the completion of the sale, the chief executive officer now directly owns 200,680 shares in the company, valued at $9,987,843.60. The disclosure for this sale can be found here.
Several large investors have recently modified their holdings of the company. Morningstar Investment Services LLC boosted its stake in shares of Southern by 7.2% in the fourth quarter. Morningstar Investment Services LLC now owns 691,509 shares of the company’s stock valued at $32,356,000 after buying an additional 46,235 shares during the period. Home Federal Bank of Tennessee bought a new position in Southern during the fourth quarter valued at approximately $1,032,000. Dimensional Fund Advisors LP raised its position in Southern by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,348,173 shares of the company’s stock valued at $63,087,000 after buying an additional 86,034 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Southern by 88.6% in the fourth quarter. BNP Paribas Arbitrage SA now owns 360,661 shares of the company’s stock valued at $16,875,000 after buying an additional 169,454 shares in the last quarter. Finally, Stephens Inc. AR raised its position in Southern by 5.7% in the fourth quarter. Stephens Inc. AR now owns 156,360 shares of the company’s stock valued at $7,316,000 after buying an additional 8,402 shares in the last quarter.
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.
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