Forsta AP Fonden Has $15.45 Million Position in Southern Co (SO)
Forsta AP Fonden cut its position in Southern Co (NYSE:SO) by 13.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 333,685 shares of the utilities provider’s stock after selling 53,200 shares during the quarter. Forsta AP Fonden’s holdings in Southern were worth $15,453,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in SO. Well Done LLC acquired a new stake in Southern during the 1st quarter valued at $100,000. Kaizen Advisory LLC lifted its holdings in Southern by 133.8% during the 2nd quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 1,307 shares during the last quarter. Destination Wealth Management lifted its holdings in Southern by 359.3% during the 2nd quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 1,811 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Southern during the 2nd quarter valued at $119,000. Finally, Horan Capital Advisors LLC. acquired a new stake in Southern during the 2nd quarter valued at $121,000. 57.34% of the stock is owned by institutional investors and hedge funds.
SO has been the subject of several research reports. TheStreet raised Southern from a “c” rating to a “b-” rating in a report on Monday, June 4th. Deutsche Bank cut their price target on Southern from $49.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, May 22nd. Barclays downgraded Southern from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $51.00 to $48.00 in a report on Thursday, August 9th. SunTrust Banks reissued a “hold” rating and set a $50.00 target price on shares of Southern in a report on Monday, August 6th. Finally, ValuEngine raised Southern from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.10.
SO opened at $44.29 on Friday. Southern Co has a fifty-two week low of $42.38 and a fifty-two week high of $53.51. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.68. The firm has a market cap of $44.79 billion, a PE ratio of 14.67, a PEG ratio of 3.30 and a beta of -0.06.
Southern (NYSE:SO) last posted its earnings results on Wednesday, August 8th. The utilities provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.11. Southern had a return on equity of 13.06% and a net margin of 9.96%. The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the firm earned $0.73 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. sell-side analysts predict that Southern Co will post 2.97 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 6th. Stockholders of record on Monday, August 20th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date was Friday, August 17th. Southern’s dividend payout ratio is currently 79.47%.
The Southern Co is a holding company, which engages in the sale of electricity. It operates through the following segments: Traditional Electric Operating Companies, Southern Power, Southern Company Gas, and All Other. The Traditional Electric Operating Companies segment refers to vertically integrated utilities that own generation, transmission and distribution facilities, and supplies electric services in the states of Alabama, Georgia, Florida, and Mississippi.
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