Tompkins Financial Corp bought a new stake in Southern Co (NYSE:SO) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 9,736 shares of the utilities provider’s stock, valued at approximately $424,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sontag Advisory LLC bought a new position in Southern during the fourth quarter valued at about $25,000. Vigilant Capital Management LLC bought a new position in shares of Southern in the fourth quarter worth about $30,000. Gemmer Asset Management LLC increased its stake in shares of Southern by 58.0% in the first quarter. Gemmer Asset Management LLC now owns 681 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 250 shares during the period. Trust Department MB Financial Bank N A increased its stake in shares of Southern by 49.0% in the first quarter. Trust Department MB Financial Bank N A now owns 766 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 252 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of Southern by 38.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 798 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 220 shares during the period. Institutional investors and hedge funds own 56.48% of the company’s stock.
In other Southern news, insider Mark Lantrip sold 33,000 shares of the stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $49.50, for a total value of $1,633,500.00. Following the transaction, the insider now directly owns 56,157 shares of the company’s stock, valued at approximately $2,779,771.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Henry A. Clark III bought 2,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average cost of $50.19 per share, for a total transaction of $100,380.00. Following the completion of the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $100,380. The disclosure for this purchase can be found here. Insiders sold a total of 292,399 shares of company stock valued at $14,923,207 over the last quarter. 0.73% of the stock is currently owned by company insiders.
Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.70 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.70. Southern had a net margin of 15.03% and a return on equity of 10.37%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the business posted $0.88 EPS. The company’s quarterly revenue was down 15.1% on a year-over-year basis. Equities research analysts forecast that Southern Co will post 3.03 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be paid a $0.62 dividend. This is an increase from Southern’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.65%. The ex-dividend date is Friday, May 17th. Southern’s dividend payout ratio (DPR) is 78.18%.
A number of research firms have weighed in on SO. Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Tuesday, January 15th. Citigroup raised Southern from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $45.00 to $50.00 in a report on Thursday, January 24th. reaffirmed a “sell” rating on shares of Southern in a report on Wednesday, February 13th. reaffirmed a “sell” rating on shares of Southern in a report on Wednesday, February 13th. Finally, SunTrust Banks reiterated a “hold” rating and set a $52.00 target price on shares of Southern in a research report on Monday, February 25th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $47.54.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities 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.
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