Ignite Planners LLC Has $1.28 Million Holdings in The Southern Company (NYSE:SO)

Ignite Planners LLC cut its stake in The Southern Company (NYSE:SOGet Rating) by 8.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,896 shares of the utilities provider’s stock after selling 1,733 shares during the period. Southern comprises approximately 1.0% of Ignite Planners LLC’s holdings, making the stock its 16th largest holding. Ignite Planners LLC’s holdings in Southern were worth $1,276,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its stake in Southern by 19.4% during the 1st quarter. State Street Corp now owns 62,701,855 shares of the utilities provider’s stock worth $4,546,512,000 after purchasing an additional 10,192,044 shares in the last quarter. Norges Bank acquired a new stake in Southern during the 4th quarter valued at $268,032,000. JPMorgan Chase & Co. lifted its holdings in Southern by 78.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,644,781 shares of the utilities provider’s stock valued at $264,284,000 after purchasing an additional 1,607,524 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in shares of Southern by 81.4% during the first quarter. Ensign Peak Advisors Inc now owns 3,229,577 shares of the utilities provider’s stock worth $234,178,000 after buying an additional 1,449,639 shares in the last quarter. Finally, Verity Asset Management Inc. lifted its holdings in shares of Southern by 13,012.4% during the first quarter. Verity Asset Management Inc. now owns 1,100,917 shares of the utilities provider’s stock worth $700,000 after buying an additional 1,092,521 shares in the last quarter. 62.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SO has been the subject of several research reports. Barclays dropped their price objective on shares of Southern from $82.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. The Goldman Sachs Group lifted their target price on shares of Southern from $53.00 to $61.00 and gave the stock a “sell” rating in a research note on Monday, August 22nd. Seaport Res Ptn restated a “buy” rating on shares of Southern in a report on Thursday, June 30th. Argus raised their price target on shares of Southern from $83.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, September 14th. Finally, UBS Group upgraded shares of Southern from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $76.00 to $87.00 in a report on Thursday, August 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $75.58.

Insider Buying and Selling

In other news, CEO Stephen E. Kuczynski sold 14,500 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $72.92, for a total transaction of $1,057,340.00. Following the sale, the chief executive officer now directly owns 115,284 shares in the company, valued at approximately $8,406,509.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Southern news, CEO Stephen E. Kuczynski sold 14,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $72.92, for a total value of $1,057,340.00. Following the sale, the chief executive officer now owns 115,284 shares of the company’s stock, valued at $8,406,509.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James Y. Kerr II sold 25,000 shares of Southern stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $76.00, for a total value of $1,900,000.00. Following the completion of the transaction, the executive vice president now owns 136,987 shares of the company’s stock, valued at approximately $10,411,012. The disclosure for this sale can be found here. Insiders sold a total of 54,000 shares of company stock valued at $4,109,655 over the last 90 days. Insiders own 0.37% of the company’s stock.

Southern Stock Performance

Shares of SO stock traded down $1.09 during trading hours on Friday, reaching $74.85. 89,442 shares of the company traded hands, compared to its average volume of 3,439,184. The firm has a 50-day moving average price of $77.03 and a 200 day moving average price of $74.00. The company has a market cap of $79.57 billion, a P/E ratio of 26.56, a P/E/G ratio of 5.24 and a beta of 0.50. The Southern Company has a 12-month low of $60.99 and a 12-month high of $80.57. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.85 and a quick ratio of 0.67.

Southern (NYSE:SOGet Rating) last released its quarterly earnings data on Thursday, July 28th. The utilities provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.84 by $0.23. The business had revenue of $7.21 billion during the quarter, compared to analyst estimates of $5.31 billion. Southern had a net margin of 12.13% and a return on equity of 12.09%. Southern’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 earnings per share. As a group, sell-side analysts predict that The Southern Company will post 3.63 earnings per share for the current fiscal year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Monday, August 15th were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Friday, August 12th. Southern’s dividend payout ratio (DPR) is presently 95.77%.

Southern Company Profile

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The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. 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, wholesale gas services, and gas pipeline investments operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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