Southern Co (NYSE:SO) Position Decreased by Bennicas & Associates Inc.
Bennicas & Associates Inc. decreased its holdings in shares of Southern Co (NYSE:SO) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,966 shares of the utilities provider’s stock after selling 234 shares during the period. Bennicas & Associates Inc.’s holdings in Southern were worth $1,408,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Private Asset Management Inc. boosted its position in shares of Southern by 4.1% during the 2nd quarter. Private Asset Management Inc. now owns 55,661 shares of the utilities provider’s stock valued at $2,886,000 after purchasing an additional 2,177 shares in the last quarter. FDx Advisors Inc. boosted its position in shares of Southern by 69.3% during the 2nd quarter. FDx Advisors Inc. now owns 11,299 shares of the utilities provider’s stock valued at $586,000 after purchasing an additional 4,627 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Southern by 1,658.7% in the second quarter. Nordea Investment Management AB now owns 2,964,098 shares of the utilities provider’s stock worth $152,652,000 after buying an additional 2,795,556 shares during the period. Exane Derivatives acquired a new position in shares of Southern in the third quarter worth about $478,000. Finally, Resources Investment Advisors LLC. boosted its holdings in shares of Southern by 23.5% in the third quarter. Resources Investment Advisors LLC. now owns 7,758 shares of the utilities provider’s stock worth $421,000 after buying an additional 1,477 shares during the period. Institutional investors own 57.29% of the company’s stock.
Several brokerages have commented on SO. Barclays upgraded shares of Southern from an “equal weight” rating to an “overweight” rating and set a $61.00 target price for the company in a report on Monday, September 21st. Morgan Stanley raised their target price on shares of Southern from $56.00 to $57.00 and gave the stock an “underweight” rating in a report on Monday, October 5th. Mizuho cut shares of Southern from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $53.00 to $48.00 in a report on Thursday, September 10th. KeyCorp decreased their target price on shares of Southern from $71.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Finally, UBS Group decreased their target price on shares of Southern from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, September 1st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $61.90.
Shares of SO opened at $58.35 on Friday. The firm has a market cap of $61.63 billion, a PE ratio of 18.94, a PEG ratio of 4.10 and a beta of 0.39. The firm’s 50 day moving average price is $54.22 and its 200 day moving average price is $54.71. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.75 and a current ratio of 0.97. Southern Co has a twelve month low of $41.96 and a twelve month high of $71.10.
Southern (NYSE:SO) last issued its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. Southern had a net margin of 15.83% and a return on equity of 10.47%. The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter last year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that Southern Co will post 3.16 earnings per share for the current fiscal year.
Southern Company Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. 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, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.
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