Pensionfund Sabic Holds Stake in Southern Co. (SO)
Pensionfund Sabic held its position in Southern Co. (NYSE:SO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,200 shares of the company’s stock at the end of the third quarter. Pensionfund Sabic’s holdings in Southern were worth $1,960,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Panagora Asset Management Inc. increased its stake in Southern by 13.3% in the first quarter. Panagora Asset Management Inc. now owns 83,563 shares of the company’s stock valued at $4,323,000 after buying an additional 9,807 shares during the period. First Republic Investment Management Inc. increased its stake in Southern by 12.9% in the first quarter. First Republic Investment Management Inc. now owns 46,588 shares of the company’s stock valued at $2,410,000 after buying an additional 5,339 shares during the period. Barnett & Company Inc. purchased a new stake in Southern during the first quarter valued at about $155,000. Boothbay Fund Management LLC purchased a new stake in Southern during the first quarter valued at about $251,000. Finally, Iowa State Bank increased its stake in Southern by 34.3% in the second quarter. Iowa State Bank now owns 16,005 shares of the company’s stock valued at $858,000 after buying an additional 4,085 shares during the period. 50.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of Southern Co. (NYSE:SO) remained flat at $48.31 during trading on Tuesday. The stock had a trading volume of 7,445,766 shares. The stock’s 50-day moving average is $49.57 and its 200-day moving average is $51.20. The company has a market capitalization of $47.34 billion, a PE ratio of 18.14 and a beta of 0.07. Southern Co. has a 52-week low of $43.72 and a 52-week high of $54.64.
Southern (NYSE:SO) last announced its quarterly earnings results on Monday, October 31st. The company reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.11. The company earned $6.26 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Southern had a return on equity of 12.69% and a net margin of 14.14%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 earnings per share. Equities research analysts expect that Southern Co. will post $2.90 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Monday, November 21st will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Thursday, November 17th. Southern’s dividend payout ratio (DPR) is presently 83.27%.
Several analysts recently issued reports on the company. Jefferies Group restated a “hold” rating on shares of Southern in a research note on Thursday, August 4th. Zacks Investment Research downgraded Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, October 26th. Finally, SunTrust Banks Inc. cut their target price on Southern from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, September 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target 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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