Key Points
- Insider sale: EVP Christopher Cummiskey sold 6,669 shares on March 19 at an average price of $96.55 for about $643,892, reducing his stake by 17.8% to 30,800 shares valued at roughly $2.97M.
- Dividend: Southern paid a $0.74 quarterly dividend (ex-dividend Feb 17), equivalent to a $2.96 annualized payout and a ~3.1% yield with a dividend payout ratio of 75.32%.
- Analyst/valuation snapshot: SO trades near $96 with a market cap around $106B and a P/E of ~24.5; analysts have a consensus "Hold" rating and an average target price of about $98.08, reflecting mixed views.
Southern Company (The) (NYSE:SO - Get Free Report) EVP Christopher Cummiskey sold 6,669 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $96.55, for a total transaction of $643,891.95. Following the completion of the sale, the executive vice president owned 30,800 shares in the company, valued at $2,973,740. This represents a 17.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Southern Stock Down 0.3%
SO opened at $96.22 on Friday. The firm has a market capitalization of $105.95 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 2.91 and a beta of 0.44. Southern Company has a one year low of $83.09 and a one year high of $100.83. The company has a fifty day moving average price of $92.64 and a 200-day moving average price of $91.72. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.65 and a quick ratio of 0.47.
Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.01). The business had revenue of $6.98 billion during the quarter, compared to analysts' expectations of $6.41 billion. Southern had a return on equity of 12.52% and a net margin of 14.69%.The company's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. Equities research analysts expect that Southern Company will post 4.29 earnings per share for the current fiscal year.
Southern Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th were issued a $0.74 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $2.96 annualized dividend and a dividend yield of 3.1%. Southern's dividend payout ratio (DPR) is presently 75.32%.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Truist Financial set a $103.00 price objective on shares of Southern in a research report on Friday, February 20th. Mizuho set a $104.00 target price on shares of Southern and gave the company an "outperform" rating in a research report on Friday, February 20th. Morgan Stanley reissued an "underweight" rating on shares of Southern in a report on Friday, February 20th. Wall Street Zen cut shares of Southern from a "hold" rating to a "sell" rating in a research report on Saturday, December 6th. Finally, UBS Group dropped their price objective on shares of Southern from $98.00 to $94.00 and set a "neutral" rating for the company in a report on Wednesday, December 17th. Six analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $98.08.
Read Our Latest Stock Analysis on Southern
Institutional Trading of Southern
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cloud Capital Management LLC bought a new stake in shares of Southern in the 3rd quarter worth approximately $25,000. Ankerstar Wealth LLC bought a new position in shares of Southern during the 4th quarter valued at $25,000. Cornerstone Financial Management LLC purchased a new position in Southern in the 4th quarter worth $27,000. J.Safra Asset Management Corp purchased a new position in Southern in the 4th quarter worth $27,000. Finally, Grey Fox Wealth Advisors LLC bought a new stake in Southern in the third quarter worth $29,000. Hedge funds and other institutional investors own 64.10% of the company's stock.
Southern Company Profile
(
Get Free Report)
Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.
Southern's principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.
Further Reading
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