Southern Company (The) (SO) Shares Sold by Cipher Capital LP
Cipher Capital LP cut its stake in Southern Company (The) (NYSE:SO) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,938 shares of the utilities provider’s stock after selling 2,170 shares during the quarter. Cipher Capital LP’s holdings in Southern were worth $3,191,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of SO. Vanguard Group Inc. grew its stake in shares of Southern by 3.3% in the second quarter. Vanguard Group Inc. now owns 71,053,604 shares of the utilities provider’s stock valued at $3,402,047,000 after acquiring an additional 2,295,466 shares in the last quarter. BlackRock Inc. grew its stake in shares of Southern by 2,961.9% in the first quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock valued at $3,089,736,000 after acquiring an additional 60,040,696 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Southern by 3.6% in the second quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock valued at $1,071,547,000 after acquiring an additional 770,413 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Southern by 25.3% in the second quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after acquiring an additional 3,015,226 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Southern by 8.2% in the first quarter. Geode Capital Management LLC now owns 9,573,271 shares of the utilities provider’s stock valued at $475,877,000 after acquiring an additional 724,650 shares in the last quarter. 53.78% of the stock is currently owned by institutional investors.
In other Southern news, insider Ann P. Daiss sold 5,000 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $52.28, for a total transaction of $261,400.00. Following the sale, the insider now directly owns 7,394 shares in the company, valued at $386,558.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ann P. Daiss sold 5,080 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $53.28, for a total transaction of $270,662.40. Following the sale, the insider now owns 7,474 shares in the company, valued at $398,214.72. The disclosure for this sale can be found here. Insiders have sold 213,813 shares of company stock worth $11,029,988 over the last quarter. Corporate insiders own 1.00% of the company’s stock.
Shares of Southern Company (SO) traded down $0.27 during trading on Friday, reaching $51.06. 4,790,000 shares of the company’s stock were exchanged, compared to its average volume of 3,904,341. The firm has a market capitalization of $51,245.25, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 3.84 and a beta of 0.13. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57. Southern Company has a 12-month low of $46.71 and a 12-month high of $53.51.
Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.16 billion. Southern had a net margin of 2.59% and a return on equity of 10.81%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.27 earnings per share. research analysts forecast that Southern Company will post 2.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th were paid a dividend of $0.58 per share. The ex-dividend date was Friday, November 17th. This represents a $2.32 dividend on an annualized basis and a yield of 4.54%. Southern’s payout ratio is 414.29%.
Several research firms recently commented on SO. Zacks Investment Research upgraded shares of Southern from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Bank of America restated an “underperform” rating and issued a $51.00 price target on shares of Southern in a research note on Tuesday, October 24th. SunTrust Banks restated a “hold” rating and issued a $52.00 price target on shares of Southern in a research note on Friday, October 20th. Mizuho restated a “buy” rating and issued a $55.00 price target on shares of Southern in a research note on Friday. Finally, Jefferies Group restated a “buy” rating and issued a $56.00 price target (up from $55.00) on shares of Southern in a research note on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. Southern currently has a consensus rating of “Hold” and a consensus price target of $49.85.
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Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
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