Southern Co. (SO) To Go Ex-Dividend on November 17th
Southern Co. (NYSE:SO) declared a quarterly dividend on Monday, October 17th. Investors of record on Monday, November 21st will be given a dividend of 0.56 per share on Tuesday, December 6th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend is Thursday, November 17th.
Southern (NYSE:SO) opened at 48.34 on Wednesday. The company’s 50 day moving average price is $50.61 and its 200-day moving average price is $51.33. Southern has a 12-month low of $43.72 and a 12-month high of $54.64. The firm has a market capitalization of $47.37 billion, a price-to-earnings ratio of 18.15 and a beta of 0.07.
Southern (NYSE:SO) last announced its quarterly earnings results on Monday, October 31st. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $3.41 billion. Southern had a return on equity of 12.69% and a net margin of 14.14%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 earnings per share. On average, equities analysts anticipate that Southern will post $2.90 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the company. Atlantic Trust Group LLC increased its stake in Southern by 22.1% in the second quarter. Atlantic Trust Group LLC now owns 25,671 shares of the company’s stock worth $1,377,000 after buying an additional 4,654 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Southern by 48.5% in the second quarter. Canada Pension Plan Investment Board now owns 384,133 shares of the company’s stock worth $20,601,000 after buying an additional 125,500 shares in the last quarter. Employees Retirement System of Texas increased its stake in Southern by 149.1% in the second quarter. Employees Retirement System of Texas now owns 142,000 shares of the company’s stock worth $7,615,000 after buying an additional 85,000 shares in the last quarter. Advisor Partners LLC increased its stake in Southern by 3.0% in the second quarter. Advisor Partners LLC now owns 19,694 shares of the company’s stock worth $1,056,000 after buying an additional 574 shares in the last quarter. Finally, Tiemann Investment Advisors LLC purchased a new stake in Southern during the second quarter worth about $235,000. 49.52% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on SO shares. SunTrust Banks Inc. cut their price target on Southern from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, September 12th. Zacks Investment Research upgraded Southern from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, September 27th. Finally, Jefferies Group increased their price target on Southern from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $53.50.
Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.
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