Traders Buy Shares of Southern Co. (SO) on Weakness
Investors purchased shares of Southern Co. (NYSE:SO) on weakness during trading on Friday. $49.03 million flowed into the stock on the tick-up and $35.44 million flowed out of the stock on the tick-down, for a money net flow of $13.59 million into the stock. Of all equities tracked, Southern had the 24th highest net in-flow for the day. Southern traded down ($0.52) for the day and closed at $52.64
A number of analysts recently commented on the stock. Argus reissued a “buy” rating on shares of Southern in a report on Wednesday, June 15th. Jefferies Group restated a “hold” rating on shares of Southern in a research report on Thursday. SunTrust Banks Inc. cut their price objective on shares of Southern from $52.00 to $51.00 in a research report on Tuesday, April 12th. Zacks Investment Research lowered shares of Southern from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Finally, Howard Weil assumed coverage on shares of Southern in a research report on Friday, May 13th. They issued a “sector perform” rating and a $52.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $52.32.
The stock has a market capitalization of $49.59 billion and a price-to-earnings ratio of 20.62. The firm’s 50-day moving average is $53.08 and its 200 day moving average is $50.44.
Southern (NYSE:SO) last announced its earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. The firm earned $4.45 billion during the quarter, compared to analyst estimates of $4.54 billion. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share. Analysts anticipate that Southern Co. will post $2.87 EPS for the current fiscal year.
The company also recently announced 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 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Thursday, August 11th.
In other Southern news, insider Ann P. Daiss sold 7,000 shares of the firm’s stock in a transaction dated 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 directly owns 9,394 shares in the company, valued at $491,118.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Art P. Beattie sold 62,587 shares of the firm’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $52.00, for a total transaction of $3,254,524.00. Following the completion of the transaction, the chief financial officer now owns 75,140 shares of the company’s stock, valued at $3,907,280. The disclosure for this sale can be found here.
Other hedge funds recently bought and sold shares of the company. Home Federal Bank of Tennessee bought a new stake in Southern during the fourth quarter worth about $1,032,000. OppenheimerFunds Inc. bought a new stake in Southern during the fourth quarter worth about $1,119,000. Alerus Investment Advisors Corp raised its stake in Southern by 17.2% in the fourth quarter. Alerus Investment Advisors Corp now owns 24,697 shares of the company’s stock worth $1,156,000 after buying an additional 3,623 shares during the period. Smith Salley & Associates raised its stake in Southern by 2.2% in the fourth quarter. Smith Salley & Associates now owns 35,685 shares of the company’s stock worth $1,669,000 after buying an additional 764 shares during the period. Finally, Philadelphia Trust Co. raised its stake in Southern by 6.4% in the fourth quarter. Philadelphia Trust Co. now owns 37,647 shares of the company’s stock worth $1,677,000 after buying an additional 2,250 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.