DnB Asset Management AS Has $6.34 Million Position in Southern Co (SO)
DnB Asset Management AS lowered its stake in shares of Southern Co (NYSE:SO) by 9.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 131,806 shares of the utilities provider’s stock after selling 13,200 shares during the quarter. DnB Asset Management AS’s holdings in Southern were worth $6,339,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC bought a new stake in Southern during the 2nd quarter valued at $100,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Southern during the 3rd quarter valued at $105,000. Monroe Bank & Trust MI raised its stake in Southern by 17.9% during the 2nd quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 350 shares in the last quarter. AlphaMark Advisors LLC raised its stake in Southern by 0.6% during the 2nd quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock valued at $113,000 after acquiring an additional 14 shares in the last quarter. Finally, Fieldpoint Private Securities LLC bought a new stake in Southern during the 3rd quarter valued at $118,000. Institutional investors and hedge funds own 53.66% of the company’s stock.
Shares of Southern Co (SO) opened at $45.25 on Friday. Southern Co has a 12 month low of $45.08 and a 12 month high of $53.51. The company has a quick ratio of 0.57, a current ratio of 0.73 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $45,410.00, a price-to-earnings ratio of 80.80, a PEG ratio of 3.45 and a beta of 0.14.
Southern (NYSE:SO) last posted its quarterly earnings data 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 quarter in the previous year, the business earned $1.27 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. research analysts forecast that Southern Co will post 2.96 earnings per share for the current fiscal year.
Several brokerages have weighed in on SO. SunTrust Banks reaffirmed a “hold” rating and set a $52.00 target price on shares of Southern in a research note on Friday, October 20th. Mizuho reaffirmed a “buy” rating and set a $52.00 target price on shares of Southern in a research note on Tuesday, December 26th. Bank of America reaffirmed an “underperform” rating and set a $51.00 target price on shares of Southern in a research note on Tuesday, October 24th. Royal Bank of Canada raised Southern from a “sector perform” rating to an “outperform” rating and set a $53.00 target price on the stock in a research note on Friday, September 29th. Finally, Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Tuesday, December 12th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Southern presently has an average rating of “Hold” and an average price target of $49.25.
In related news, VP James Y. Kerr II sold 25,000 shares of Southern stock in a transaction on Friday, October 20th. The stock was sold at an average price of $52.16, for a total value of $1,304,000.00. Following the transaction, the vice president now directly owns 26,000 shares in the company, valued at approximately $1,356,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher C. Womack sold 46,641 shares of Southern stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $53.00, for a total value of $2,471,973.00. Following the completion of the transaction, the executive vice president now owns 56,799 shares in the company, valued at $3,010,347. The disclosure for this sale can be found here. Insiders sold a total of 128,662 shares of company stock worth $6,772,438 over the last 90 days. Insiders own 0.74% of the company’s stock.
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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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