2 weeks Ago By Defense World Staff
Core Alternative Capital lessened its holdings in shares of The Southern Company ( NYSE:SO – Free Report ) by 10.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,961 shares of the utilities provider’s stock after selling 13,632 shares during the quarter.
Southern accounts for approximately 1.9% of Core Alternative Capital’s portfolio, making the stock its 10th largest position. Core Alternative Capital’s holdings in Southern were worth $9,461,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Vista Capital Partners Inc. increased its stake in Southern by 1.
4% in the 2nd quarter. Vista Capital Partners Inc. now owns 8,743 shares of the utilities provider’s stock worth $678,000 after acquiring an additional 118 shares during the last quarter.
Modera Wealth Management LLC increased its position in shares of Southern by 1.4% in the second quarter. Modera Wealth Management LLC now owns 9,048 shares of the utilities provider’s stock worth $702,000 after purchasing an additional 124 shares during the last quarter.
Red Door Wealth Management LLC raised its stake in Southern by 0.9% in the second quarter. Red Door Wealth Management LLC now owns 13,926 shares of the utilities provider’s stock valued at $1,080,000 after purchasing an additional 125 shares in the last quarter.
Elwood & Goetz Wealth Advisory Group LLC lifted its position in Southern by 2.1% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,352 shares of the utilities provider’s stock valued at $493,000 after purchasing an additional 128 shares during the last quarter.
Finally, Moloney Securities Asset Management LLC grew its stake in Southern by 2.0% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 6,595 shares of the utilities provider’s stock worth $512,000 after buying an additional 131 shares in the last quarter.
64.10% of the stock is owned by institutional investors. Analyst Ratings Changes SO has been the topic of several research reports.
Wells Fargo & Company raised their price objective on shares of Southern from $77.00 to $89.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd.
Jefferies Financial Group initiated coverage on Southern in a research report on Friday, September 20th. They set a “hold” rating and a $94.00 price objective on the stock.
Barclays boosted their target price on Southern from $66.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th.
Wolfe Research downgraded shares of Southern from an “outperform” rating to a “peer perform” rating in a research note on Friday, August 2nd. Finally, Bank of America boosted their price target on shares of Southern from $86.00 to $87.
00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $86.
60. Insider Transactions at Southern In other news, EVP Bryan D. Anderson sold 6,565 shares of the company’s stock in a transaction that occurred on Friday, September 6th.
The shares were sold at an average price of $89.54, for a total value of $587,830.10.
Following the transaction, the executive vice president now owns 44,467 shares in the company, valued at $3,981,575.18. The sale was disclosed in a legal filing with the SEC, which is available at this link .
In other Southern news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the business’s stock in a transaction dated Monday, August 5th.
The stock was sold at an average price of $88.99, for a total transaction of $211,796.20.
Following the completion of the sale, the executive vice president now directly owns 12,500 shares in the company, valued at approximately $1,112,375. The transaction was disclosed in a filing with the SEC, which is available at the SEC website . Also, EVP Bryan D.
Anderson sold 6,565 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $89.54, for a total transaction of $587,830.
10. Following the completion of the transaction, the executive vice president now owns 44,467 shares in the company, valued at approximately $3,981,575.18.
The disclosure for this sale can be found here . Over the last three months, insiders have sold 27,845 shares of company stock valued at $2,266,455. Insiders own 0.
18% of the company’s stock. Southern Stock Up 1.3 % SO stock opened at $90.
10 on Monday. The Southern Company has a fifty-two week low of $61.56 and a fifty-two week high of $90.
85. The company has a market capitalization of $98.52 billion, a price-to-earnings ratio of 23.
28, a price-to-earnings-growth ratio of 3.21 and a beta of 0.52.
The business’s 50 day moving average price is $87.06 and its two-hundred day moving average price is $79.66.
The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.66 and a current ratio of 0.
91. Southern ( NYSE:SO – Get Free Report ) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.
10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.19.
Southern had a return on equity of 12.88% and a net margin of 17.67%.
The business had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.10 billion.
During the same quarter in the prior year, the company earned $0.79 earnings per share. The firm’s quarterly revenue was up 12.
4% compared to the same quarter last year. As a group, analysts forecast that The Southern Company will post 4.02 earnings per share for the current fiscal year.
Southern Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, August 19th were issued a $0.72 dividend.
This represents a $2.88 annualized dividend and a yield of 3.20%.
The ex-dividend date was Monday, August 19th. Southern’s dividend payout ratio (DPR) is 74.42%.
About Southern ( Free Report ) The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations. Featured Stories Five stocks we like better than Southern 3 Natural Gas Stocks That Offer Great Dividend Yields Watch These 3 Former Short-Squeeze Stocks for a Big Rally Want to Profit on the Downtrend? Downtrends, Explained.
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