Southern Company (The) (SO) Stake Maintained by Ingalls & Snyder LLC

Ingalls & Snyder LLC maintained its stake in shares of Southern Company (The) (NYSE:SO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,520 shares of the utilities provider’s stock at the close of the 2nd quarter. Ingalls & Snyder LLC’s holdings in Southern Company (The) were worth $360,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Bartlett & Co. LLC increased its stake in shares of Southern Company (The) by 0.3% in the second quarter. Bartlett & Co. LLC now owns 4,813 shares of the utilities provider’s stock valued at $230,000 after buying an additional 14 shares during the period. Sfmg LLC grew its stake in Southern Company (The) by 0.4% during the first quarter. Sfmg LLC now owns 6,406 shares of the utilities provider’s stock worth $319,000 after purchasing an additional 28 shares during the period. Regal Investment Advisors LLC grew its stake in Southern Company (The) by 0.4% during the first quarter. Regal Investment Advisors LLC now owns 7,990 shares of the utilities provider’s stock worth $398,000 after purchasing an additional 29 shares during the period. Jackson Grant Investment Advisers Inc. grew its stake in Southern Company (The) by 1.1% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 3,279 shares of the utilities provider’s stock worth $163,000 after purchasing an additional 36 shares during the period. Finally, Cobblestone Capital Advisors LLC NY grew its stake in Southern Company (The) by 0.6% during the first quarter. Cobblestone Capital Advisors LLC NY now owns 7,011 shares of the utilities provider’s stock worth $349,000 after purchasing an additional 45 shares during the period. 53.28% of the stock is owned by institutional investors.

In other Southern Company (The) news, EVP Christopher C. Womack sold 75,144 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the transaction, the executive vice president now owns 85,298 shares in the company, valued at approximately $4,204,338.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.74% of the stock is currently owned by corporate insiders.

Southern Company (NYSE:SO) opened at 50.07 on Tuesday. The firm has a 50-day moving average price of $48.93 and a 200 day moving average price of $49.45. Southern Company has a one year low of $46.20 and a one year high of $53.73. The company has a market cap of $50.04 billion, a price-to-earnings ratio of 82.35 and a beta of 0.13.

Southern Company (The) (NYSE:SO) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter in the prior year, the business earned $0.74 EPS. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. Equities analysts expect that Southern Company will post $2.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st were issued a dividend of $0.58 per share. The ex-dividend date was Thursday, August 17th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.63%. Southern Company (The)’s dividend payout ratio (DPR) is 346.27%.

SO has been the subject of several recent analyst reports. Zacks Investment Research cut Southern Company (The) from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Deutsche Bank AG raised Southern Company (The) from a “hold” rating to a “buy” rating and raised their target price for the stock from $50.00 to $52.00 in a research note on Tuesday, August 1st. Mizuho raised Southern Company (The) from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, September 5th. Guggenheim raised Southern Company (The) from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $56.00 in a research note on Thursday, September 14th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $53.00 target price on shares of Southern Company (The) in a research note on Monday, July 31st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $49.63.

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About Southern Company (The)

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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Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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