Grove Bank & Trust Trims Stake in Southern Company (The) (SO)
Grove Bank & Trust trimmed its holdings in Southern Company (The) (NYSE:SO) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,071 shares of the utilities provider’s stock after selling 1,824 shares during the quarter. Grove Bank & Trust’s holdings in Southern were worth $888,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of SO. WINTON GROUP Ltd raised its stake in shares of Southern by 173.5% in the third quarter. WINTON GROUP Ltd now owns 43,906 shares of the utilities provider’s stock valued at $2,158,000 after purchasing an additional 27,852 shares in the last quarter. Zeke Capital Advisors LLC raised its stake in shares of Southern by 128.4% in the third quarter. Zeke Capital Advisors LLC now owns 23,036 shares of the utilities provider’s stock valued at $1,132,000 after purchasing an additional 12,951 shares in the last quarter. Amalgamated Bank raised its stake in shares of Southern by 1.9% in the third quarter. Amalgamated Bank now owns 114,465 shares of the utilities provider’s stock valued at $5,625,000 after purchasing an additional 2,174 shares in the last quarter. Cadence Capital Management LLC raised its stake in shares of Southern by 31.5% in the third quarter. Cadence Capital Management LLC now owns 67,500 shares of the utilities provider’s stock valued at $3,317,000 after purchasing an additional 16,185 shares in the last quarter. Finally, Iberiabank Corp raised its stake in shares of Southern by 6.5% in the third quarter. Iberiabank Corp now owns 151,315 shares of the utilities provider’s stock valued at $7,437,000 after purchasing an additional 9,232 shares in the last quarter. 53.78% of the stock is owned by institutional investors.
A number of research analysts recently commented on SO shares. Zacks Investment Research lowered Southern from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Guggenheim upgraded Southern from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $56.00 in a research note on Thursday, September 14th. Mizuho upgraded Southern 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. SunTrust Banks restated a “hold” rating and issued a $52.00 target price on shares of Southern in a research note on Friday, October 20th. Finally, KeyCorp restated a “hold” rating on shares of Southern in a research note on Friday, September 1st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $49.92.
Shares of Southern Company (SO) opened at $51.31 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73. The company has a market capitalization of $51,496.15, a price-to-earnings ratio of 18.66, a PEG ratio of 3.86 and a beta of 0.13. Southern Company has a 1-year low of $46.71 and a 1-year high of $53.51.
Southern (NYSE:SO) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. The company had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.16 billion. Southern had a return on equity of 10.81% and a net margin of 2.59%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 earnings per share. research analysts expect that Southern Company will post 2.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 6th. Stockholders of record on Monday, November 20th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Friday, November 17th. Southern’s payout ratio is presently 414.29%.
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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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