Mitchell Sinkler & Starr PA continued to hold its stake in shares of Southern Co. (NYSE:SO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,235 shares of the company’s stock at the end of the third quarter. Southern makes up about 2.0% of Mitchell Sinkler & Starr PA’s portfolio, making the stock its 18th largest position. Mitchell Sinkler & Starr PA’s holdings in Southern were worth $1,295,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Southern by 5.6% in the second quarter. Vanguard Group Inc. now owns 60,379,260 shares of the company’s stock worth $3,238,139,000 after buying an additional 3,222,084 shares during the last quarter. Capital International Investors boosted its stake in shares of Southern by 517.2% in the second quarter. Capital International Investors now owns 3,225,300 shares of the company’s stock worth $172,973,000 after buying an additional 2,702,700 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Southern by 13.0% in the second quarter. BlackRock Fund Advisors now owns 19,032,403 shares of the company’s stock worth $1,020,708,000 after buying an additional 2,194,490 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Southern during the second quarter worth about $90,503,000. Finally, Bank of Montreal Can bought a new stake in shares of Southern during the second quarter worth about $77,486,000. 50.21% of the stock is owned by hedge funds and other institutional investors.
Shares of Southern Co. (NYSE:SO) traded up 1.16% on Friday, reaching $47.78. The company had a trading volume of 2,486,224 shares. The firm has a market capitalization of $46.82 billion, a price-to-earnings ratio of 17.94 and a beta of 0.07. The company’s 50-day moving average price is $49.60 and its 200-day moving average price is $51.19. Southern Co. has a 52-week low of $43.72 and a 52-week high of $54.64.
Southern (NYSE:SO) last issued its earnings results on Monday, October 31st. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. Southern had a return on equity of 12.69% and a net margin of 14.14%. The business earned $6.26 billion during the quarter, compared to analysts’ expectations of $3.41 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, analysts predict that Southern Co. will post $2.90 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Monday, November 21st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $2.24 annualized dividend and a dividend yield of 4.69%. Southern’s payout ratio is 83.27%.
Several equities research analysts have recently weighed in on the company. SunTrust Banks Inc. increased their price objective on Southern from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, September 26th. Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, September 27th. Finally, Jefferies Group reissued a “hold” rating on shares of Southern in a research report on Thursday, August 4th. One investment 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 currently has an average rating of “Hold” and an average target price 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.