Investors Sell Southern Co. (SO) on Strength (SO)
Traders sold shares of Southern Co. (NYSE:SO) on strength during trading hours on Monday. $24.25 million flowed into the stock on the tick-up and $37.32 million flowed out of the stock on the tick-down, for a money net flow of $13.07 million out of the stock. Of all companies tracked, Southern had the 0th highest net out-flow for the day. Southern traded up $0.03 for the day and closed at $52.35
SO has been the topic of several research analyst reports. Jefferies Group reiterated a “hold” rating on shares of Southern in a report on Thursday, April 28th. Howard Weil initiated coverage on Southern in a report on Friday, May 13th. They issued a “sector perform” rating and a $52.00 price objective on the stock. Zacks Investment Research cut Southern from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th. Mizuho lifted their price objective on Southern from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, July 12th. Finally, Argus reiterated a “buy” rating on shares of Southern in a report on Wednesday, June 15th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Southern presently has a consensus rating of “Hold” and an average price target of $52.32.
The company’s 50-day moving average price is $53.33 and its 200-day moving average price is $50.70. The firm has a market cap of $48.00 billion and a PE ratio of 20.24.
Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. During the same period last year, the business earned $0.71 earnings per share. The business had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.54 billion. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that Southern Co. will post $2.87 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Monday, August 15th will be paid a dividend of $0.56 per share. The ex-dividend date is Thursday, August 11th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.35%.
In other news, CEO Mark Lantrip sold 35,884 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were 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 directly owns 41,934 shares of the company’s stock, valued at approximately $2,264,436. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark A. Crosswhite sold 167,273 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $53.30, for a total transaction of $8,915,650.90. Following the transaction, the chief executive officer now directly owns 171,983 shares of the company’s stock, valued at $9,166,693.90. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have modified their holdings of the company. Home Federal Bank of Tennessee acquired a new position in shares of Southern during the fourth quarter worth $1,032,000. Homrich & Berg raised its stake in shares of Southern by 4.0% in the fourth quarter. Homrich & Berg now owns 64,526 shares of the company’s stock worth $3,019,000 after buying an additional 2,471 shares during the period. Victory Capital Management Inc. raised its stake 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. Gyroscope Capital Management Group LLC raised its stake in shares of Southern by 0.5% in the fourth quarter. Gyroscope Capital Management Group LLC now owns 83,446 shares of the company’s stock worth $3,904,000 after buying an additional 387 shares during the period. Finally, I.G. Investment Management LTD. raised its stake 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.
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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