Teacher Retirement System of Texas lifted its stake in shares of The Southern Company (NYSE:SO – Get Rating) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 411,162 shares of the utilities provider’s stock after acquiring an additional 19,698 shares during the period. Teacher Retirement System of Texas’ holdings in Southern were worth $27,959,000 as of its most recent filing with the Securities & Exchange Commission.
→ Netflix for 50 Cents?! (From Crowdability)
Several other institutional investors have also modified their holdings of SO. Johnson Midwest Financial LLC purchased a new position in shares of Southern during the 2nd quarter worth $25,000. Chilton Capital Management LLC purchased a new stake in Southern in the 2nd quarter valued at about $25,000. Crewe Advisors LLC raised its holdings in Southern by 93.6% in the 2nd quarter. Crewe Advisors LLC now owns 484 shares of the utilities provider’s stock valued at $35,000 after buying an additional 234 shares during the period. CNB Bank raised its holdings in Southern by 186.2% in the 2nd quarter. CNB Bank now owns 498 shares of the utilities provider’s stock valued at $35,000 after buying an additional 324 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in Southern in the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 61.78% of the company’s stock.
Southern Stock Performance
Shares of Southern stock opened at $66.45 on Friday. The Southern Company has a one year low of $60.71 and a one year high of $80.57. The company has a market cap of $72.34 billion, a PE ratio of 21.03, a P/E/G ratio of 4.72 and a beta of 0.48. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.64 and a current ratio of 0.81. The business has a 50-day simple moving average of $69.00 and a 200-day simple moving average of $71.27.
Southern (NYSE:SO – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.02). The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $6.75 billion. Southern had a net margin of 12.52% and a return on equity of 12.21%. On average, equities research analysts forecast that The Southern Company will post 3.58 EPS for the current fiscal year.
Insider Activity at Southern
In related news, EVP Martin Bernard Davis sold 3,050 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $65.80, for a total value of $200,690.00. Following the completion of the transaction, the executive vice president now directly owns 39,916 shares of the company’s stock, valued at $2,626,472.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Southern news, CEO Stephen E. Kuczynski sold 14,546 shares of the business’s stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $70.95, for a total value of $1,032,038.70. Following the completion of the sale, the chief executive officer now owns 120,786 shares in the company, valued at $8,569,766.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Martin Bernard Davis sold 3,050 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $65.80, for a total value of $200,690.00. Following the completion of the sale, the executive vice president now owns 39,916 shares of the company’s stock, valued at approximately $2,626,472.80. The disclosure for this sale can be found here. Insiders sold 19,071 shares of company stock valued at $1,333,545 over the last three months. 0.37% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
SO has been the topic of several research analyst reports. KeyCorp upgraded shares of Southern from a “sector weight” rating to an “overweight” rating and set a $70.00 price objective on the stock in a report on Thursday, October 20th. UBS Group reduced their price objective on shares of Southern to $80.00 in a report on Monday, November 21st. Wells Fargo & Company lifted their target price on Southern from $70.00 to $77.00 in a research report on Wednesday, December 14th. Morgan Stanley lifted their target price on Southern from $59.00 to $63.00 and gave the company an “underweight” rating in a research report on Thursday, December 15th. Finally, Credit Suisse Group lifted their target price on Southern from $60.00 to $70.00 and gave the company an “underperform” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Southern presently has a consensus rating of “Hold” and a consensus target price of $72.08.
Southern Company Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. 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, wholesale gas services, and gas pipeline investments operations.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Southern, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Southern wasn’t on the list.
While Southern currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
story by The Texas Tribune Source link