Traders Buy Shares of Southern Co. (SO) on Weakness
Investors bought shares of Southern Co. (NYSE:SO) on weakness during trading hours on Monday. $41.39 million flowed into the stock on the tick-up and $26.30 million flowed out of the stock on the tick-down, for a money net flow of $15.09 million into the stock. Of all stocks tracked, Southern had the 20th highest net in-flow for the day. Southern traded down ($0.01) for the day and closed at $53.62
A number of equities research analysts recently issued reports on SO shares. Jefferies Group reaffirmed a “hold” rating and set a $49.00 price target on shares of Southern in a research note on Sunday, March 27th. SunTrust Banks Inc. decreased their price target on shares of Southern from $52.00 to $51.00 in a research note on Tuesday, April 12th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Southern in a research note on Tuesday, April 19th. BMO Capital Markets reaffirmed a “hold” rating on shares of Southern in a research note on Thursday, April 28th. Finally, Zacks Investment Research downgraded shares of Southern from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $51.77.
The company has a market cap of $49.24 billion and a PE ratio of 20.95. The company has a 50-day moving average price of $51.85 and a 200-day moving average price of $49.86.
Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, April 27th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The company earned $3.97 billion during the quarter, compared to analyst estimates of $4.25 billion. During the same period in the prior year, the business posted $0.56 EPS. Southern’s revenue was down 5.2% compared to the same quarter last year. On average, equities analysts predict that Southern Co. will post $2.84 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Monday, August 15th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 4.18%.
In other Southern news, CEO Stephen E. Kuczynski sold 182,225 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 200,680 shares in the company, valued at approximately $9,987,843.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ann P. Daiss sold 7,000 shares of the firm’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $52.28, for a total value of $365,960.00. Following the completion of the transaction, the insider now owns 9,394 shares in the company, valued at approximately $491,118.32. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently bought and sold shares of the company. Aviance Capital Partners LLC raised its position in Southern by 21.5% in the fourth quarter. Aviance Capital Partners LLC now owns 21,618 shares of the company’s stock valued at $1,011,000 after buying an additional 3,825 shares in the last quarter. Home Federal Bank of Tennessee bought a new position in Southern during the fourth quarter valued at approximately $1,032,000. LLBH Private Wealth Management LLC bought a new position in Southern during the fourth quarter valued at approximately $1,084,000. OppenheimerFunds Inc. bought a new position in Southern during the fourth quarter valued at approximately $1,119,000. Finally, Schnieders Capital Management LLC raised its position in Southern by 37.4% in the fourth quarter. Schnieders Capital Management LLC now owns 24,362 shares of the company’s stock valued at $1,140,000 after buying an additional 6,625 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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