Wade G W & Inc. Grows Stock Position in The Southern Company (NYSE:SO)

Wade G W & Inc. raised its stake in shares of The Southern Company (NYSE:SOFree Report) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 231,291 shares of the utilities provider’s stock after buying an additional 4,014 shares during the quarter. Wade G W & Inc.’s holdings in Southern were worth $16,218,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Insigneo Advisory Services LLC grew its position in Southern by 3.1% in the third quarter. Insigneo Advisory Services LLC now owns 4,883 shares of the utilities provider’s stock worth $316,000 after acquiring an additional 146 shares in the last quarter. Good Life Advisors LLC raised its position in Southern by 0.8% in the fourth quarter. Good Life Advisors LLC now owns 19,956 shares of the utilities provider’s stock worth $1,399,000 after purchasing an additional 149 shares in the last quarter. Insight Inv LLC lifted its holdings in shares of Southern by 1.4% during the fourth quarter. Insight Inv LLC now owns 10,530 shares of the utilities provider’s stock valued at $738,000 after acquiring an additional 150 shares during the period. Patten & Patten Inc. TN increased its holdings in shares of Southern by 0.7% during the fourth quarter. Patten & Patten Inc. TN now owns 20,736 shares of the utilities provider’s stock worth $1,454,000 after buying an additional 150 shares in the last quarter. Finally, CNB Bank raised its position in Southern by 23.9% in the 4th quarter. CNB Bank now owns 778 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SO shares. UBS Group cut shares of Southern from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $78.00 to $76.00 in a research report on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price target on shares of Southern in a research report on Wednesday, February 21st. Mizuho upped their price objective on Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Scotiabank reduced their price objective on shares of Southern from $80.00 to $77.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. Finally, Bank of America increased their price objective on Southern from $70.00 to $73.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Southern presently has an average rating of “Moderate Buy” and a consensus target price of $74.71.

Read Our Latest Research Report on SO

Southern Price Performance

Shares of NYSE SO traded up $0.02 during midday trading on Tuesday, reaching $78.72. 5,222,891 shares of the company were exchanged, compared to its average volume of 4,853,430. The stock has a market cap of $86.17 billion, a P/E ratio of 20.36, a PEG ratio of 4.35 and a beta of 0.48. The company has a quick ratio of 0.65, a current ratio of 0.92 and a debt-to-equity ratio of 1.67. The stock’s 50-day moving average price is $71.65 and its 200-day moving average price is $70.15. The Southern Company has a one year low of $61.56 and a one year high of $79.16.

Southern (NYSE:SOGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. Southern had a return on equity of 12.07% and a net margin of 16.74%. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same quarter in the previous year, the company posted $0.79 EPS. The business’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that The Southern Company will post 3.99 earnings per share for the current fiscal year.

Southern Increases Dividend

The firm 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 dividend of $0.72 per share. The ex-dividend date is Friday, May 17th. This represents a $2.88 annualized dividend and a yield of 3.66%. This is a boost from Southern’s previous quarterly dividend of $0.70. Southern’s dividend payout ratio (DPR) is currently 72.35%.

Insiders Place Their Bets

In other news, CEO Stephen E. Kuczynski sold 5,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $68.92, for a total transaction of $344,600.00. Following the transaction, the chief executive officer now owns 126,528 shares of the company’s stock, valued at approximately $8,720,309.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $68.92, for a total transaction of $344,600.00. Following the transaction, the chief executive officer now directly owns 126,528 shares of the company’s stock, valued at $8,720,309.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kimberly S. Greene sold 9,126 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total transaction of $684,815.04. Following the sale, the chief executive officer now owns 121,504 shares of the company’s stock, valued at approximately $9,117,660.16. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Southern Profile

(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.

See Also

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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