Rockefeller Capital Management L.P. Has $13.72 Million Stock Holdings in The Southern Company (NYSE:SO)
Rockefeller Capital Management L.P. reduced its stake in The Southern Company (NYSE:SO) by 1.9% in Q4, holding 166,795 shares valued at $13.72 million. Other investors also adjusted their positions, with institutional ownership at 64.10%. Southern's stock opened at $90.97, with a market cap of $99.77 billion and a P/E ratio of 22.69. The company reported Q4 earnings of $0.50 per share, missing estimates, and announced a quarterly dividend of $0.72 per share. Analysts have mixed ratings, with a consensus hold rating and a price target of $92.00.
Rockefeller Capital Management L.P. decreased its position in The Southern Company (NYSE:SO - Free Report) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 166,795 shares of the utilities provider's stock after selling 3,205 shares during the period. Rockefeller Capital Management L.P.'s holdings in Southern were worth $13,715,000 at the end of the most recent quarter.
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A number of other large investors have also made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new stake in shares of Southern in the fourth quarter worth about $25,000. YANKCOM Partnership acquired a new position in shares of Southern in the 4th quarter valued at approximately $26,000. WFA Asset Management Corp increased its stake in Southern by 84.9% during the 4th quarter. WFA Asset Management Corp now owns 429 shares of the utilities provider's stock worth $35,000 after purchasing an additional 197 shares in the last quarter. Valley National Advisers Inc. raised its holdings in Southern by 244.4% during the 4th quarter. Valley National Advisers Inc. now owns 434 shares of the utilities provider's stock worth $35,000 after buying an additional 308 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Southern in the fourth quarter valued at approximately $35,000. Institutional investors own 64.10% of the company's stock.
Southern Price Performance
Shares of SO opened at $90.97 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 1.60. The company's fifty day simple moving average is $88.96 and its 200 day simple moving average is $87.29. The Southern Company has a 1-year low of $67.53 and a 1-year high of $94.45. The company has a market cap of $99.77 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 3.01 and a beta of 0.39.
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Southern (NYSE:SO - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). Southern had a return on equity of 12.23% and a net margin of 16.47%. The firm had revenue of $6.34 billion for the quarter, compared to analyst estimates of $5.90 billion. On average, research analysts forecast that The Southern Company will post 4.29 earnings per share for the current fiscal year.
Southern Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.72 per share. The ex-dividend date was Tuesday, February 18th. This represents a $2.88 annualized dividend and a dividend yield of 3.17%. Southern's dividend payout ratio is currently 71.82%.
Wall Street Analyst Weigh In
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A number of equities research analysts recently commented on the stock. Morgan Stanley restated an "outperform" rating on shares of Southern in a report on Thursday, March 20th. JPMorgan Chase & Co. raised Southern from an "underweight" rating to a "neutral" rating and set a $94.00 price target on the stock in a research note on Tuesday, April 8th. Mizuho upped their price objective on Southern from $83.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. UBS Group lifted their target price on Southern from $94.00 to $97.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Finally, Guggenheim downgraded Southern from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $92.00.
Check Out Our Latest Stock Report on Southern
Insider Buying and Selling
In related news, CEO Kimberly S. Greene sold 32,190 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $93.12, for a total value of $2,997,532.80. Following the transaction, the chief executive officer now owns 106,819 shares in the company, valued at approximately $9,946,985.28. This represents a 23.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Jeffrey Peoples sold 14,540 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $86.00, for a total transaction of $1,250,440.00. Following the sale, the chief executive officer now owns 13,236 shares of the company's stock, valued at $1,138,296. This trade represents a 52.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,855 shares of company stock valued at $4,348,784. 0.18% of the stock is owned by insiders.
About Southern
(Free Report)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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