Traders Buy Southern Co. (SO) on Weakness
Traders purchased shares of Southern Co. (NYSE:SO) on weakness during trading hours on Tuesday. $62.66 million flowed into the stock on the tick-up and $48.83 million flowed out of the stock on the tick-down, for a money net flow of $13.83 million into the stock. Of all stocks tracked, Southern had the 20th highest net in-flow for the day. Southern traded down ($0.95) for the day and closed at $52.84
Several analysts have recently commented on the company. Deutsche Bank AG restated a “hold” rating on shares of Southern in a report on Tuesday, April 19th. BMO Capital Markets restated a “hold” rating on shares of Southern in a report on Thursday, April 28th. Jefferies Group restated a “hold” rating on shares of Southern in a report on Monday. Argus restated a “buy” rating on shares of Southern in a report on Wednesday, June 15th. Finally, Howard Weil assumed coverage on Southern in a report on Friday, May 13th. They set a “sector perform” rating and a $52.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $50.55.
The firm’s 50-day moving average is $51.30 and its 200-day moving average is $49.67. The company has a market cap of $48.52 billion and a PE ratio of 20.65.
Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm earned $0.56 earnings per share. Southern’s revenue was down 5.2% on a year-over-year basis. On average, equities research analysts expect that Southern Co. will post $2.85 EPS for the current fiscal year.
In other news, CEO Mark Lantrip sold 35,884 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 41,934 shares of the company’s stock, valued at approximately $2,264,436. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Art P. Beattie sold 123,207 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $54.12, for a total value of $6,667,962.84. Following the transaction, the chief financial officer now directly owns 75,141 shares of the company’s stock, valued at approximately $4,066,630.92. The disclosure for this sale can be found here.
Several institutional investors have bought and sold shares of the company. Vanguard Group Inc. boosted its position in Southern by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 54,686,446 shares of the company’s stock worth $2,558,779,000 after buying an additional 1,325,479 shares during the period. Morgan Stanley boosted its position in Southern by 8.1% in the fourth quarter. Morgan Stanley now owns 3,452,709 shares of the company’s stock worth $161,555,000 after buying an additional 259,589 shares during the period. Wells Fargo & Company MN boosted its position in Southern by 2.8% in the fourth quarter. Wells Fargo & Company MN now owns 9,364,719 shares of the company’s stock worth $438,175,000 after buying an additional 253,648 shares during the period. Caldwell & Orkin Inc. acquired a new position in Southern during the fourth quarter worth approximately $8,596,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in Southern by 27.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 841,354 shares of the company’s stock worth $39,367,000 after buying an additional 183,603 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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