Van ECK Associates Corp Has $596,000 Position in Southern Company (The) (SO)

Van ECK Associates Corp lowered its position in Southern Company (The) (NYSE:SO) by 36.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,440 shares of the utilities provider’s stock after selling 7,043 shares during the quarter. Van ECK Associates Corp’s holdings in Southern Company (The) were worth $596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bartlett & Co. LLC grew its holdings in shares of Southern Company (The) by 0.3% in the second quarter. Bartlett & Co. LLC now owns 4,813 shares of the utilities provider’s stock valued at $230,000 after purchasing an additional 14 shares during the period. AlphaMark Advisors LLC grew its holdings in shares of Southern Company (The) by 0.6% in the second quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 14 shares during the period. WMS Partners LLC grew its holdings in shares of Southern Company (The) by 0.6% in the second quarter. WMS Partners LLC now owns 4,387 shares of the utilities provider’s stock valued at $210,000 after purchasing an additional 25 shares during the period. Regal Investment Advisors LLC grew its holdings in shares of Southern Company (The) by 0.4% in the first quarter. Regal Investment Advisors LLC now owns 7,990 shares of the utilities provider’s stock valued at $398,000 after purchasing an additional 29 shares during the period. Finally, Sfmg LLC grew its holdings in shares of Southern Company (The) by 0.5% in the second quarter. Sfmg LLC now owns 6,435 shares of the utilities provider’s stock valued at $308,000 after purchasing an additional 29 shares during the period. 53.14% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO William P. Bowers sold 85,151 shares of the business’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total transaction of $4,257,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Y. Kerr II sold 25,000 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $52.16, for a total value of $1,304,000.00. Following the sale, the vice president now owns 26,000 shares of the company’s stock, valued at approximately $1,356,160. The disclosure for this sale can be found here. Insiders have sold a total of 162,092 shares of company stock valued at $8,287,353 in the last quarter. Company insiders own 1.00% of the company’s stock.

A number of research firms have commented on SO. Bank of America Corporation reaffirmed an “underperform” rating and issued a $51.00 target price on shares of Southern Company (The) in a research report on Tuesday, October 24th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $53.00 target price on shares of Southern Company (The) in a research report on Monday, July 31st. J P Morgan Chase & Co began coverage on shares of Southern Company (The) in a research report on Tuesday, August 8th. They issued an “overweight” rating and a $16.78 target price on the stock. BidaskClub cut shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, Credit Suisse Group raised shares of Southern Company (The) from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 3rd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. Southern Company (The) presently has a consensus rating of “Hold” and an average price target of $49.72.

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Southern Company (The) (NYSE:SO) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.18 by ($0.06). Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The firm had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter in the previous year, the firm posted $1.27 EPS. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Monday, November 20th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Friday, November 17th. Southern Company (The)’s payout ratio is currently 346.27%.

Southern Company (The) Profile

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.

Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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