Southern Company (The) (NYSE:SO - Get Free Report) EVP Sterling Jr. Spainhour sold 3,333 shares of Southern stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $91.81, for a total transaction of $306,002.73. Following the sale, the executive vice president owned 31,886 shares of the company's stock, valued at approximately $2,927,453.66. This trade represents a 9.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Southern Stock Performance
NYSE:SO opened at $93.51 on Tuesday. The firm has a 50 day simple moving average of $88.26 and a 200-day simple moving average of $92.50. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.79 and a quick ratio of 0.59. The firm has a market cap of $107.57 billion, a PE ratio of 21.30, a P/E/G ratio of 2.45 and a beta of 0.30. Southern Company has a 1-year low of $81.69 and a 1-year high of $99.58.
Southern (NYSE:SO - Get Free Report) last announced its earnings results on Thursday, November 5th. The utilities provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.71 by $0.23. Southern had a net margin of 15.43% and a return on equity of 12.93%. The firm had revenue of $8.84 billion for the quarter, compared to analyst estimates of $8.38 billion. During the same quarter last year, the business earned $1.54 earnings per share. Southern's revenue was up 13.0% compared to the same quarter last year. On average, equities analysts expect that Southern Company will post 4.70 EPS for the current year.
Southern Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, November 16th. Southern's dividend payout ratio is currently 69.25%.
Hedge Funds Weigh In On Southern
Several institutional investors and hedge funds have recently bought and sold shares of SO. Evergreen Advisors LLC purchased a new position in Southern during the first quarter worth approximately $25,000. Scarborough Advisors LLC acquired a new position in shares of Southern in the 1st quarter valued at $25,000. Bullseye Investment Management LLC acquired a new position in shares of Southern in the 2nd quarter valued at $26,000. J.Safra Asset Management Corp purchased a new stake in shares of Southern during the 2nd quarter valued at $30,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Southern during the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 64.10% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on SO shares. The Goldman Sachs Group decreased their price objective on Southern from $103.00 to $101.00 in a report on Thursday, October 15th. Morgan Stanley dropped their target price on Southern from $85.00 to $84.00 and set an "underweight" rating for the company in a research note on Wednesday, October 21st. Scotiabank reduced their target price on Southern from $103.00 to $93.00 and set a "sector perform" rating on the stock in a research report on Wednesday, September 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Southern in a research report on Tuesday, October 27th. Finally, Capital One Financial set a $99.00 price target on Southern in a research note on Monday. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $97.32.
View Our Latest Stock Report on Southern
About Southern
(
Get Free Report)
Southern Company is an energy holding company based in Atlanta, Georgia. Through its subsidiaries, it generates, transmits and distributes electricity and provides natural gas service, primarily across the southeastern United States.
Its electric utility businesses include Alabama Power, Georgia Power and Mississippi Power, which serve customers in their respective states. Southern Company also owns Southern Power, which develops and operates wholesale power generation assets, and Southern Company Gas, whose businesses distribute natural gas to customers in several states.
Formed in 1945, Southern Company has grown from a regional electric utility holding company into a diversified energy provider.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
