Main Street Financial Solutions LLC Has $2.42 Million Holdings in The Southern Company (NYSE:SO)

Main Street Financial Solutions LLC increased its stake in The Southern Company (NYSE:SO) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,048 shares of the utilities provider’s stock after purchasing an additional 637 shares during the period. Main Street Financial Solutions LLC’s holdings in The Southern were worth $2,423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of SO. Alpha DNA Investment Management LLC increased its holdings in shares of The Southern by 35.2% during the first quarter. Alpha DNA Investment Management LLC now owns 591 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 154 shares during the period. Mid Atlantic Financial Management Inc. ADV raised its stake in The Southern by 1.4% during the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 11,704 shares of the utilities provider’s stock worth $708,000 after buying an additional 163 shares during the last quarter. NorthCoast Asset Management LLC raised its stake in The Southern by 4.3% during the first quarter. NorthCoast Asset Management LLC now owns 4,038 shares of the utilities provider’s stock worth $251,000 after buying an additional 167 shares during the last quarter. SNS Financial Group LLC raised its stake in The Southern by 2.1% during the second quarter. SNS Financial Group LLC now owns 8,376 shares of the utilities provider’s stock worth $507,000 after buying an additional 172 shares during the last quarter. Finally, St. Johns Investment Management Company LLC raised its stake in The Southern by 1.7% during the second quarter. St. Johns Investment Management Company LLC now owns 10,628 shares of the utilities provider’s stock worth $643,000 after buying an additional 176 shares during the last quarter. Institutional investors own 59.30% of the company’s stock.

Shares of NYSE:SO traded up $0.15 on Wednesday, hitting $66.12. The company had a trading volume of 130,258 shares, compared to its average volume of 4,001,654. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.46. The Southern Company has a 52-week low of $52.01 and a 52-week high of $67.54. The business has a 50 day moving average of $64.79 and a 200 day moving average of $63.53. The company has a market cap of $70.01 billion, a PE ratio of 22.21, a PEG ratio of 4.01 and a beta of 0.45.

The Southern (NYSE:SO) last released its earnings results on Thursday, July 29th. The utilities provider reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.05. The Southern had a return on equity of 11.43% and a net margin of 14.47%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5 billion. As a group, equities analysts predict that The Southern Company will post 3.35 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 7th. Stockholders of record on Monday, August 16th were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend was Friday, August 13th. The Southern’s dividend payout ratio (DPR) is presently 81.23%.

Several research firms have weighed in on SO. Wells Fargo & Company reaffirmed a “buy” rating on shares of The Southern in a research note on Monday, August 2nd. Argus boosted their target price on shares of The Southern from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, May 19th. Mizuho upped their target price on shares of The Southern from $57.00 to $60.00 and gave the stock an “underperform” rating in a report on Monday, August 30th. Guggenheim raised shares of The Southern from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Tuesday, September 7th. Finally, Morgan Stanley lifted their price target on shares of The Southern from $60.00 to $64.00 and gave the stock an “underweight” rating in a research note on Thursday, August 19th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $68.69.

In other news, EVP Martin Bernard Davis sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $64.61, for a total value of $452,270.00. Following the transaction, the executive vice president now directly owns 28,089 shares of the company’s stock, valued at approximately $1,814,830.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ann P. Daiss sold 1,750 shares of the company’s stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $64.34, for a total transaction of $112,595.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,247 shares of company stock worth $5,813,034. 0.43% of the stock is owned by insiders.

The Southern Profile

The Southern Co is a holding company. The firm engages in the sale of electricity. It operates through the following segments: Traditional Electric Operating Companies, Southern Power and Southern Company Gas. The Traditional Electric Operating Companies segment refers to vertically integrated utilities that own generation, transmission and distribution facilities, and supplies electric services in the states of Alabama, Georgia, Florida, and Mississippi.

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

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