Los Angeles Capital Management & Equity Research Inc. Buys 93,110 Shares of Southern Co (NYSE:SO)
Los Angeles Capital Management & Equity Research Inc. increased its position in Southern Co (NYSE:SO) by 43.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 309,204 shares of the utilities provider’s stock after buying an additional 93,110 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Southern were worth $13,481,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kaizen Advisory LLC increased its holdings in shares of 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 acquiring an additional 1,307 shares during the last quarter. Destination Wealth Management boosted its stake 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 period. Point72 Hong Kong Ltd bought a new stake in Southern during the 2nd quarter valued at approximately $119,000. Horan Capital Advisors LLC. bought a new stake in Southern during the 2nd quarter valued at approximately $121,000. Finally, Sound Income Strategies LLC boosted its stake in Southern by 83.5% during the 3rd quarter. Sound Income Strategies LLC now owns 2,855 shares of the utilities provider’s stock valued at $124,000 after purchasing an additional 1,299 shares during the period. 56.58% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on SO shares. Zacks Investment Research upgraded Southern from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Tuesday, October 9th. SunTrust Banks restated a “hold” rating and set a $48.00 target price on shares of Southern in a research report on Thursday, November 8th. Bank of America upgraded Southern from an “underperform” rating to a “neutral” rating and set a $46.00 target price for the company in a research report on Wednesday, October 10th. Citigroup downgraded Southern from a “neutral” rating to a “sell” rating and set a $45.00 target price for the company. in a research report on Wednesday, August 8th. Finally, ValuEngine upgraded Southern from a “sell” rating to a “hold” rating in a research report on Friday, October 19th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $46.32.
Shares of NYSE:SO traded down $0.25 during midday trading on Tuesday, hitting $47.24. The company had a trading volume of 7,202,800 shares, compared to its average volume of 6,213,396. Southern Co has a 12 month low of $42.38 and a 12 month high of $52.00. The company has a quick ratio of 0.58, a current ratio of 0.72 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $48.70 billion, a P/E ratio of 15.64, a P/E/G ratio of 3.47 and a beta of -0.07.
Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, November 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.07. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.68 billion. Southern had a return on equity of 12.88% and a net margin of 10.35%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the company earned $1.12 EPS. As a group, equities research analysts expect that Southern Co will post 3.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Monday, November 19th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a $2.40 annualized dividend and a yield of 5.08%. Southern’s dividend payout ratio is presently 79.47%.
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Southern Company Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.
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