Livingston Group Asset Management CO operating as Southport Capital Management Buys 306 Shares of The Southern Company (NYSE:SO)


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Livingston Group Asset Management CO operating as Southport Capital Management grew its holdings in shares of The Southern Company (NYSE:SO) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,819 shares of the utilities provider’s stock after buying an additional 306 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in The Southern were worth $419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in shares of The Southern by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,832,935 shares of the utilities provider’s stock valued at $1,563,321,000 after buying an additional 822,854 shares in the last quarter. FMR LLC raised its position in shares of The Southern by 11.0% during the 2nd quarter. FMR LLC now owns 14,378,464 shares of the utilities provider’s stock valued at $745,524,000 after buying an additional 1,420,920 shares in the last quarter. California Public Employees Retirement System raised its position in shares of The Southern by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 8,756,638 shares of the utilities provider’s stock valued at $474,785,000 after buying an additional 133,195 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of The Southern by 3.7% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 4,302,566 shares of the utilities provider’s stock valued at $233,285,000 after buying an additional 152,656 shares in the last quarter. Finally, Morgan Stanley raised its position in The Southern by 4.6% in the 3rd quarter. Morgan Stanley now owns 3,373,059 shares of the utilities provider’s stock worth $182,887,000 after purchasing an additional 148,470 shares during the period. Hedge funds and other institutional investors own 57.29% of the company’s stock.

NYSE SO opened at $59.71 on Thursday. The company has a market cap of $63.06 billion, a PE ratio of 19.39, a P/E/G ratio of 4.58 and a beta of 0.38. The Southern Company has a 52-week low of $41.96 and a 52-week high of $71.10. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.75 and a current ratio of 0.97. The firm’s 50 day moving average price is $60.65 and its 200-day moving average price is $56.90.

The Southern (NYSE:SO) last announced its earnings results on Thursday, October 29th. The utilities provider reported $1.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.02). The firm had revenue of $5.62 billion during the quarter, compared to analyst estimates of $6.29 billion. The Southern had a net margin of 15.83% and a return on equity of 10.47%. The Southern’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business earned $1.34 earnings per share. On average, analysts forecast that The Southern Company will post 3.16 earnings per share for the current fiscal year.

In other news, CEO Kimberly S. Greene sold 30,000 shares of The Southern stock in a transaction dated Thursday, December 3rd. The shares were sold at an average price of $61.96, for a total value of $1,858,800.00. Following the sale, the chief executive officer now owns 50,291 shares in the company, valued at $3,116,030.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Stephen E. Kuczynski sold 2,500 shares of the business’s stock in a transaction dated Thursday, December 10th. The stock was sold at an average price of $60.93, for a total transaction of $152,325.00. Following the transaction, the chief executive officer now owns 64,496 shares in the company, valued at $3,929,741.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,000 shares of company stock valued at $2,164,100. 0.39% of the stock is currently owned by corporate insiders.

A number of analysts recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of The Southern from $62.00 to $57.00 and set an “underweight” rating on the stock in a research report on Tuesday, December 15th. BidaskClub lowered shares of The Southern from a “hold” rating to a “sell” rating in a research report on Friday, December 25th. KeyCorp reduced their price objective on shares of The Southern from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday. Barclays increased their price objective on shares of The Southern from $61.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 18th. Finally, Scotiabank raised shares of The Southern from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $66.00 to $75.00 in a research report on Tuesday, December 15th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The Southern currently has an average rating of “Hold” and a consensus target price of $64.60.

About The Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities 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.

See Also: Outstanding Shares and The Effect on Share Price

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

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