Southern Company (The) (NYSE:SO) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its stake in shares of Southern Company (The) (NYSE:SO) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,092,554 shares of the utilities provider’s stock after purchasing an additional 33,729 shares during the period. Commonwealth Equity Services LLC’s holdings in Southern were worth $100,460,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Smithfield Trust Co boosted its holdings in Southern by 20.9% in the first quarter. Smithfield Trust Co now owns 2,315 shares of the utilities provider’s stock valued at $213,000 after purchasing an additional 400 shares during the last quarter. Argent Trust Co grew its stake in Southern by 1.3% during the 1st quarter. Argent Trust Co now owns 39,650 shares of the utilities provider’s stock worth $3,646,000 after buying an additional 494 shares during the last quarter. L & S Advisors Inc increased its holdings in shares of Southern by 0.4% in the 1st quarter. L & S Advisors Inc now owns 44,341 shares of the utilities provider’s stock worth $4,077,000 after acquiring an additional 186 shares during the period. Manchester Capital Management LLC increased its stake in shares of Southern by 20.7% in the first quarter. Manchester Capital Management LLC now owns 2,200 shares of the utilities provider’s stock valued at $202,000 after purchasing an additional 377 shares during the period. Finally, Cheviot Value Management LLC acquired a new stake in Southern in the 1st quarter valued at approximately $28,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Trading Up 0.5%

Shares of SO stock opened at $94.96 on Monday. The firm has a fifty day moving average of $91.38 and a 200-day moving average of $89.50. The stock has a market cap of $104.46 billion, a price-to-earnings ratio of 24.41, a P/E/G ratio of 3.28 and a beta of 0.38. Southern Company has a 52-week low of $80.46 and a 52-week high of $96.44. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.54 and a current ratio of 0.74.

Southern (NYSE:SO) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.08). The business had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.70 billion. Southern had a return on equity of 12.09% and a net margin of 15.10%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 EPS. On average, equities research analysts forecast that Southern Company will post 4.29 earnings per share for the current fiscal year.

Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 18th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, August 18th. Southern’s dividend payout ratio is 76.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Guggenheim restated a “neutral” rating and issued a $93.00 target price on shares of Southern in a research report on Friday, May 2nd. Barclays increased their price objective on Southern from $90.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price objective on shares of Southern from $94.00 to $97.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Raymond James Financial started coverage on Southern in a research report on Friday, June 13th. They set an “outperform” rating and a $98.00 target price for the company. Finally, Scotiabank raised their target price on shares of Southern from $98.00 to $99.00 and gave the company a “sector outperform” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Southern presently has a consensus rating of “Hold” and an average price target of $94.29.

Insiders Place Their Bets

In other news, CEO Kimberly S. Greene sold 13,158 shares of the business’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $95.00, for a total value of $1,250,010.00. Following the sale, the chief executive officer owned 93,661 shares in the company, valued at approximately $8,897,795. The trade was a 12.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by company insiders.

Southern Company Profile

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.