Southern (SO) Hits New 52-Week Low at $46.60
Southern Co (NYSE:SO) reached a new 52-week low on Thursday . The company traded as low as $46.60 and last traded at $46.67, with a volume of 3863903 shares changing hands. The stock had previously closed at $46.90.
A number of equities research analysts have recently weighed in on SO shares. Zacks Investment Research lowered Southern from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Jefferies Group reissued a “buy” rating and issued a $56.00 target price (up previously from $55.00) on shares of Southern in a research note on Tuesday, September 12th. Bank of America reissued an “underperform” rating and issued a $51.00 target price on shares of Southern in a research note on Tuesday, October 24th. SunTrust Banks reissued a “hold” rating and issued a $52.00 target price on shares of Southern in a research note on Friday, October 20th. Finally, Guggenheim raised Southern from a “neutral” rating to a “buy” rating and boosted their target price for the company from $49.00 to $56.00 in a research note on Thursday, September 14th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $49.25.
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 $46,870.00, a price-to-earnings ratio of 83.39, a price-to-earnings-growth ratio of 3.48 and a beta of 0.14.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.97%. Southern’s dividend payout ratio (DPR) is 414.29%.
In related news, insider Ann P. Daiss sold 5,080 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $53.28, for a total value of $270,662.40. Following the sale, the insider now owns 7,474 shares in the company, valued at approximately $398,214.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William P. Bowers sold 85,151 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total value of $4,257,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 213,813 shares of company stock worth $11,029,988 in the last quarter. Company insiders own 1.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC bought a new position in Southern in the 2nd quarter valued at approximately $100,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Southern in the 3rd quarter valued at approximately $105,000. Monroe Bank & Trust MI lifted its position in Southern by 17.9% in 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 lifted its position in Southern by 0.6% in 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 position in Southern in the 3rd quarter valued at approximately $118,000. Institutional investors own 53.66% of the company’s stock.
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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