Southern Company (The) (SO) Stake Lifted by Jackson Wealth Management LLC
Jackson Wealth Management LLC increased its holdings in shares of Southern Company (The) (NYSE:SO) by 11.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,444 shares of the utilities provider’s stock after buying an additional 5,200 shares during the period. Jackson Wealth Management LLC’s holdings in Southern were worth $2,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Chicago Partners Investment Group LLC purchased a new position in Southern in the 2nd quarter valued at $100,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Southern in the 3rd quarter worth $105,000. Monroe Bank & Trust MI increased its stake in shares of Southern by 17.9% in the 2nd quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 350 shares during the last quarter. AlphaMark Advisors LLC increased its stake in shares of Southern by 0.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock worth $113,000 after acquiring an additional 14 shares during the last quarter. Finally, Barnett & Company Inc. increased its stake in shares of Southern by 25.0% in the 2nd quarter. Barnett & Company Inc. now owns 2,725 shares of the utilities provider’s stock worth $130,000 after acquiring an additional 545 shares during the last quarter. Hedge funds and other institutional investors own 53.78% of the company’s stock.
A number of brokerages recently issued reports on SO. Zacks Investment Research raised Southern from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Bank of America restated an “underperform” rating and set a $51.00 target price on shares of Southern in a report on Tuesday, October 24th. SunTrust Banks restated a “hold” rating and set a $52.00 target price on shares of Southern in a report on Friday, October 20th. Mizuho restated a “buy” rating and set a $55.00 target price on shares of Southern in a report on Friday, December 8th. Finally, Jefferies Group restated a “buy” rating and set a $56.00 target price (up from $55.00) on shares of Southern in a report on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. Southern has an average rating of “Hold” and an average target price of $49.92.
In other news, CEO William P. Bowers sold 85,151 shares of the stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total value of $4,257,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ann P. Daiss sold 5,080 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $53.28, for a total value of $270,662.40. Following the completion of the sale, the insider now owns 7,474 shares of the company’s stock, valued at approximately $398,214.72. The disclosure for this sale can be found here. Insiders sold 213,813 shares of company stock valued at $11,029,988 over the last quarter. Insiders own 1.00% of the company’s stock.
Shares of Southern Company (NYSE:SO) traded down $0.16 during mid-day trading on Friday, reaching $51.52. The company had a trading volume of 4,534,800 shares, compared to its average volume of 4,685,160. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57. The firm has a market capitalization of $51,867.50, a price-to-earnings ratio of 18.79, a PEG ratio of 3.89 and a beta of 0.13. Southern Company has a 52-week low of $46.71 and a 52-week high of $53.51.
Southern (NYSE:SO) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.04. Southern had a return on equity of 10.81% and a net margin of 2.59%. The company had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same period in the previous year, the business earned $1.27 earnings per share. Southern’s quarterly revenue was down 1.0% compared to the same quarter last year. equities research analysts anticipate that Southern Company will post 2.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 6th. Investors of record on Monday, November 20th were paid a $0.58 dividend. The ex-dividend date of this dividend was Friday, November 17th. This represents a $2.32 annualized dividend and a yield of 4.50%. Southern’s payout ratio is currently 414.29%.
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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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