Traders Sell Shares of Southern Co. (SO) on Strength (SO)
Investors sold shares of Southern Co. (NYSE:SO) on strength during trading hours on Monday. $34.77 million flowed into the stock on the tick-up and $48.75 million flowed out of the stock on the tick-down, for a money net flow of $13.98 million out of the stock. Of all companies tracked, Southern had the 0th highest net out-flow for the day. Southern traded up $0.04 for the day and closed at $52.00
A number of equities analysts have weighed in on the stock. Jefferies Group reiterated a “hold” rating on shares of Southern in a research report on Thursday, August 4th. Argus reiterated a “buy” rating on shares of Southern in a research report on Wednesday, June 15th. Zacks Investment Research lowered shares of Southern from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Howard Weil assumed coverage on shares of Southern in a research report on Friday, May 13th. They set a “sector perform” rating and a $52.00 target price for the company. Finally, Scotiabank reiterated a “sector perform” rating and set a $52.00 target price on shares of Southern in a research report on Saturday, May 14th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Southern has an average rating of “Hold” and an average price target of $52.32.
The company has a 50-day moving average of $53.17 and a 200-day moving average of $50.80. The firm has a market cap of $48.96 billion and a PE ratio of 20.64.
Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The business had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Southern’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 EPS. On average, analysts predict that Southern Co. will post $2.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders 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 dividend yield of 4.31%. The ex-dividend date of this dividend is Thursday, August 11th.
In other news, insider Ann P. Daiss sold 7,000 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $52.28, for a total transaction of $365,960.00. Following the completion of the sale, the insider now owns 9,394 shares of the company’s stock, valued at approximately $491,118.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stan W. Connally sold 14,392 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $53.75, for a total transaction of $773,570.00. Following the sale, the chief executive officer now directly owns 17,716 shares of the company’s stock, valued at approximately $952,235. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in shares of Southern by 44.6% in the fourth quarter. Victory Capital Management Inc. now owns 71,867 shares of the company’s stock worth $3,363,000 after buying an additional 22,183 shares during the period. I.G. Investment Management LTD. increased its position in shares of Southern by 40.9% in the fourth quarter. I.G. Investment Management LTD. now owns 115,139 shares of the company’s stock worth $5,387,000 after buying an additional 33,397 shares during the period. Stephens Inc. AR increased its position in shares of Southern by 5.7% in the fourth quarter. Stephens Inc. AR now owns 156,360 shares of the company’s stock worth $7,316,000 after buying an additional 8,402 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Southern by 88.6% in the fourth quarter. BNP Paribas Arbitrage SA now owns 360,661 shares of the company’s stock worth $16,875,000 after buying an additional 169,454 shares during the period. Finally, American International Group Inc. increased its position in shares of Southern by 3.3% in the fourth quarter. American International Group Inc. now owns 438,741 shares of the company’s stock worth $20,530,000 after buying an additional 14,133 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.