Traders Buy Southern Co. (SO) on Weakness
Investors bought shares of Southern Co. (NYSE:SO) on weakness during trading hours on Tuesday. $60.42 million flowed into the stock on the tick-up and $42.23 million flowed out of the stock on the tick-down, for a money net flow of $18.19 million into the stock. Of all stocks tracked, Southern had the 25th highest net in-flow for the day. Southern traded down ($0.09) for the day and closed at $54.45
SO has been the topic of a number of recent research reports. Deutsche Bank AG reiterated a “hold” rating on shares of Southern in a research report on Tuesday, April 19th. SunTrust Banks Inc. dropped their target price on Southern from $52.00 to $51.00 in a research report on Tuesday, April 12th. Barclays PLC upgraded Southern from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $54.00 to $62.00 in a research report on Thursday, July 14th. They noted that the move was a valuation call. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $54.00 target price on shares of Southern in a research report on Thursday, July 14th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Southern in a research report on Thursday, April 28th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $51.77.
The firm has a market cap of $50.00 billion and a PE ratio of 21.28. The stock’s 50-day moving average price is $52.53 and its 200 day moving average price is $50.15.
Southern (NYSE:SO) last issued its earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. Equities research analysts expect that Southern Co. will post $2.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Monday, August 15th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 4.11%. The ex-dividend date is Thursday, August 11th.
In other Southern news, CEO Mark Lantrip sold 35,884 shares of Southern stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $54.00, for a total transaction of $1,937,736.00. Following the transaction, the chief executive officer now owns 41,934 shares of the company’s stock, valued at $2,264,436. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen E. Kuczynski sold 182,225 shares of Southern stock in a transaction that occurred 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 directly owns 200,680 shares in the company, valued at approximately $9,987,843.60. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in SO. 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 during the period. Home Federal Bank of Tennessee purchased a new position in Southern during the fourth quarter valued at approximately $1,032,000. LLBH Private Wealth Management LLC purchased a new position in Southern during the fourth quarter valued at approximately $1,084,000. OppenheimerFunds Inc. purchased 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 during the period.
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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