Park Place Capital Corp lowered its position in shares of The Southern Company (NYSE:SO – Free Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,027 shares of the utilities provider’s stock after selling 224 shares during the period. Park Place Capital Corp’s holdings in Southern were worth $414,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Southern by 4.6% in the third quarter. Geode Capital Management LLC now owns 24,521,339 shares of the utilities provider’s stock worth $2,203,386,000 after buying an additional 1,075,768 shares during the last quarter. Mizuho Securities USA LLC increased its stake in shares of Southern by 17,272.6% in the third quarter. Mizuho Securities USA LLC now owns 14,647,000 shares of the utilities provider’s stock worth $1,320,866,000 after buying an additional 14,562,689 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Southern by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,405,596 shares of the utilities provider’s stock worth $577,657,000 after buying an additional 52,414 shares during the last quarter. Swiss National Bank boosted its holdings in Southern by 0.5% in the third quarter. Swiss National Bank now owns 3,245,500 shares of the utilities provider’s stock worth $292,679,000 after purchasing an additional 15,300 shares during the period. Finally, Synovus Financial Corp boosted its holdings in Southern by 72.4% in the third quarter. Synovus Financial Corp now owns 3,077,959 shares of the utilities provider’s stock worth $277,570,000 after purchasing an additional 1,293,072 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have commented on SO shares. Morgan Stanley decreased their price objective on shares of Southern from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. BMO Capital Markets reduced their price target on shares of Southern from $99.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Barclays lifted their price objective on shares of Southern from $71.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Scotiabank lifted their price objective on shares of Southern from $96.00 to $98.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Finally, Guggenheim lifted their price objective on shares of Southern from $93.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Southern has a consensus rating of “Hold” and an average target price of $90.14.
Insider Buying and Selling at Southern
In other Southern news, EVP Martin Bernard Davis sold 1,170 shares of Southern stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $85.90, for a total transaction of $100,503.00. Following the transaction, the executive vice president now owns 88,393 shares of the company’s stock, valued at $7,592,958.70. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.
Southern Price Performance
NYSE SO opened at $83.97 on Wednesday. The stock’s 50-day moving average price is $84.56 and its two-hundred day moving average price is $86.40. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66. The company has a market cap of $92.00 billion, a PE ratio of 19.56, a PEG ratio of 2.86 and a beta of 0.52. The Southern Company has a 1 year low of $65.80 and a 1 year high of $94.45.
Southern (NYSE:SO – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.10. Southern had a return on equity of 12.78% and a net margin of 17.87%. The firm had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $7.14 billion. During the same quarter in the previous year, the company earned $1.42 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts predict that The Southern Company will post 4.04 EPS for the current year.
Southern Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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, gas distribution operations, and gas pipeline investments operations.
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