The Southern Company (NYSE:SO) Shares Sold by Forum Financial Management LP

Forum Financial Management LP cut its position in The Southern Company (NYSE:SO) by 15.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,486 shares of the utilities provider’s stock after selling 970 shares during the quarter. Forum Financial Management LP’s holdings in Southern were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Norden Group LLC acquired a new position in shares of Southern in the first quarter worth $376,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Southern by 5.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,112 shares of the utilities provider’s stock worth $12,491,000 after acquiring an additional 8,713 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Southern in the first quarter worth $39,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Southern by 16.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 22,732 shares of the utilities provider’s stock worth $1,631,000 after acquiring an additional 3,255 shares in the last quarter. Finally, Commerce Bank grew its stake in shares of Southern by 14.7% in the first quarter. Commerce Bank now owns 125,531 shares of the utilities provider’s stock worth $9,006,000 after acquiring an additional 16,068 shares in the last quarter. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Price Performance

Southern stock opened at $88.12 on Tuesday. The stock has a market capitalization of $96.35 billion, a P/E ratio of 20.49, a P/E/G ratio of 3.15 and a beta of 0.52. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.91 and a quick ratio of 0.66. The Southern Company has a 12-month low of $65.80 and a 12-month high of $94.45. The firm’s 50-day moving average is $89.77 and its two-hundred day moving average is $83.47.

Southern (NYSE:SO) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The company had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $7.14 billion. Southern had a net margin of 17.87% and a return on equity of 12.78%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.42 EPS. Equities analysts predict that The Southern Company will post 4.04 earnings per share for the current year.

Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.72 per share. The ex-dividend date is Monday, November 18th. This represents a $2.88 annualized dividend and a yield of 3.27%. Southern’s dividend payout ratio is presently 66.98%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. BMO Capital Markets lowered their price target on shares of Southern from $99.00 to $97.00 and set an “outperform” rating for the company in a report on Friday. Bank of America upped their target price on Southern from $86.00 to $87.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Mizuho downgraded shares of Southern from an “outperform” rating to a “neutral” rating and set a $90.00 target price for the company. in a research note on Monday, September 16th. Guggenheim lifted their target price on shares of Southern from $93.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, UBS Group lifted their price target on Southern from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $89.27.

Insider Transactions at Southern

In other news, EVP Bryan D. Anderson sold 6,565 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $89.54, for a total transaction of $587,830.10. Following the completion of the sale, the executive vice president now owns 44,467 shares in the company, valued at approximately $3,981,575.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Southern news, CEO James Y. Kerr II sold 30,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $89.64, for a total value of $2,689,200.00. Following the completion of the sale, the chief executive officer now owns 145,088 shares of the company’s stock, valued at $13,005,688.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan D. Anderson sold 6,565 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $89.54, for a total transaction of $587,830.10. Following the transaction, the executive vice president now directly owns 44,467 shares in the company, valued at approximately $3,981,575.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Southern 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.