Southern Co. (SO) Shares Bought by New England Professional Planning Group Inc.
New England Professional Planning Group Inc. increased its stake in Southern Co. (NYSE:SO) by 11.3% during the second quarter, Holdings Channel reports. The fund owned 5,012 shares of the company’s stock after buying an additional 510 shares during the period. Southern comprises about 0.3% of New England Professional Planning Group Inc.’s investment portfolio, making the stock its 29th largest position. New England Professional Planning Group Inc.’s holdings in Southern were worth $273,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc increased its stake in shares of Southern by 18.8% in the first quarter. IFP Advisors Inc now owns 147,339 shares of the company’s stock valued at $7,622,000 after buying an additional 23,362 shares during the last quarter. Hyman Charles D bought a new stake in shares of Southern during the first quarter valued at approximately $15,712,000. MCF Advisors LLC increased its stake in shares of Southern by 89.2% in the first quarter. MCF Advisors LLC now owns 2,543 shares of the company’s stock valued at $132,000 after buying an additional 1,199 shares during the last quarter. WASHINGTON TRUST Co increased its stake in shares of Southern by 3.8% in the first quarter. WASHINGTON TRUST Co now owns 10,843 shares of the company’s stock valued at $561,000 after buying an additional 400 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Southern by 127.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 994,794 shares of the company’s stock valued at $51,461,000 after buying an additional 557,889 shares during the last quarter. 48.64% of the stock is owned by institutional investors and hedge funds.
Southern Co. (NYSE:SO) traded down 0.55% during trading on Friday, reaching $49.16. 5,246,778 shares of the company were exchanged. The company has a market capitalization of $46.29 billion, a P/E ratio of 19.52 and a beta of 0.08. Southern Co. has a one year low of $43.38 and a one year high of $54.64. The firm’s 50-day moving average is $51.76 and its 200 day moving average is $51.40.
Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The company earned $4.45 billion during the quarter, compared to analyst estimates of $4.54 billion. Southern had a net margin of 13.77% and a return on equity of 12.50%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. On average, analysts anticipate that Southern Co. will post $2.86 EPS for the current fiscal year.
Several analysts recently commented on SO shares. Argus reaffirmed a “buy” rating on shares of Southern in a report on Wednesday, June 15th. Mizuho reaffirmed a “hold” rating and set a $50.00 target price on shares of Southern in a report on Monday, July 11th. Jefferies Group reaffirmed a “hold” rating on shares of Southern in a report on Monday, July 11th. Barclays PLC raised shares of Southern from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $54.00 to $62.00 in a report on Thursday, July 14th. They noted that the move was a valuation call. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $54.00 price objective on shares of Southern in a research note on Thursday, July 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. Southern currently has an average rating of “Hold” and an average target price of $53.50.
In related news, EVP Christopher C. Womack sold 46,008 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $53.40, for a total transaction of $2,456,827.20. Following the completion of the transaction, the executive vice president now owns 56,149 shares in the company, valued at $2,998,356.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Stan W. Connally sold 14,392 shares of the 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 transaction, the chief executive officer now owns 17,716 shares of the company’s stock, valued at approximately $952,235. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
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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