The Southern Company (NYSE:SO - Get Free Report) CEO Kimberly S. Greene sold 9,126 shares of the business's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total transaction of $684,815.04. Following the transaction, the chief executive officer now owns 121,504 shares in the company, valued at $9,117,660.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Southern Trading Up 1.1 %
Shares of Southern stock opened at $75.36 on Friday. The Southern Company has a 1 year low of $61.56 and a 1 year high of $75.92. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.56 and a current ratio of 0.77. The company has a market capitalization of $82.49 billion, a P/E ratio of 20.76, a PEG ratio of 4.67 and a beta of 0.48. The company's fifty day moving average is $70.22 and its two-hundred day moving average is $69.58.
Southern (NYSE:SO - Get Free Report) last released its earnings results on Thursday, February 15th. The utilities provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. Southern had a net margin of 15.79% and a return on equity of 11.40%. The company had revenue of $6.05 billion during the quarter, compared to analysts' expectations of $6.90 billion. During the same quarter last year, the business earned $0.26 EPS. The business's revenue was down 14.2% on a year-over-year basis. Analysts forecast that The Southern Company will post 3.99 earnings per share for the current year.
Southern Increases Dividend
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be paid a $0.72 dividend. This is a boost from Southern's previous quarterly dividend of $0.70. The ex-dividend date is Friday, May 17th. This represents a $2.88 annualized dividend and a dividend yield of 3.82%. Southern's dividend payout ratio (DPR) is 77.14%.
Institutional Trading of Southern
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Voisard Asset Management Group Inc. acquired a new position in Southern during the fourth quarter worth about $31,000. Scarborough Advisors LLC purchased a new stake in Southern in the fourth quarter valued at approximately $31,000. Versant Capital Management Inc grew its holdings in Southern by 62.0% in the first quarter. Versant Capital Management Inc now owns 444 shares of the utilities provider's stock valued at $32,000 after purchasing an additional 170 shares during the period. BKM Wealth Management LLC purchased a new stake in Southern in the fourth quarter valued at approximately $34,000. Finally, Financial Synergies Wealth Advisors Inc. grew its stake in Southern by 3,628.6% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 522 shares of the utilities provider's stock worth $37,000 after buying an additional 508 shares during the period. Institutional investors and hedge funds own 64.10% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the stock. Bank of America boosted their target price on shares of Southern from $70.00 to $73.00 and gave the company a "neutral" rating in a report on Tuesday, April 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $80.00 target price on shares of Southern in a research note on Wednesday, February 21st. UBS Group downgraded shares of Southern from a "buy" rating to a "neutral" rating and cut their target price for the stock from $78.00 to $76.00 in a research note on Thursday, April 4th. BMO Capital Markets restated an "outperform" rating and issued a $76.00 price objective (up from $72.00) on shares of Southern in a report on Monday, April 1st. Finally, Scotiabank reduced their price objective on shares of Southern from $80.00 to $77.00 and set a "sector outperform" rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Southern presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.36.
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About Southern
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The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.
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