Stratos Wealth Partners LTD. trimmed its holdings in shares of The Southern Company (NYSE:SO) by 0.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,187 shares of the utilities provider’s stock after selling 331 shares during the period. Stratos Wealth Partners LTD.’s holdings in The Southern were worth $3,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. JustInvest LLC lifted its holdings in shares of The Southern by 15.3% in the 4th quarter. JustInvest LLC now owns 4,539 shares of the utilities provider’s stock valued at $279,000 after purchasing an additional 604 shares during the last quarter. Insight Folios Inc lifted its holdings in shares of The Southern by 5.8% in the 4th quarter. Insight Folios Inc now owns 60,623 shares of the utilities provider’s stock valued at $3,724,000 after purchasing an additional 3,342 shares during the last quarter. Signet Financial Management LLC raised its stake in The Southern by 3.4% during the 4th quarter. Signet Financial Management LLC now owns 5,767 shares of the utilities provider’s stock valued at $354,000 after acquiring an additional 191 shares during the last quarter. Rockland Trust Co. raised its stake in The Southern by 11.5% during the 1st quarter. Rockland Trust Co. now owns 134,621 shares of the utilities provider’s stock valued at $8,368,000 after acquiring an additional 13,854 shares during the last quarter. Finally, Donaldson Capital Management LLC raised its stake in The Southern by 32.5% during the 4th quarter. Donaldson Capital Management LLC now owns 541,597 shares of the utilities provider’s stock valued at $33,270,000 after acquiring an additional 132,960 shares during the last quarter. 57.62% of the stock is owned by institutional investors.
Shares of NYSE:SO opened at $66.05 on Tuesday. The business’s fifty day moving average price is $62.99 and its two-hundred day moving average price is $60.83. The stock has a market cap of $69.99 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 3.56 and a beta of 0.39. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.73 and a current ratio of 0.90. The Southern Company has a one year low of $50.40 and a one year high of $66.70.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 7th. Shareholders of record on Monday, May 17th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Friday, May 14th. This is a boost from The Southern’s previous quarterly dividend of $0.64. The Southern’s dividend payout ratio is 82.32%.
Several analysts have commented on the company. Wells Fargo & Company upped their price objective on The Southern from $71.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, April 26th. Bank of America upgraded The Southern from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday, January 19th. Evercore ISI cut The Southern from an “in-line” rating to an “underperform” rating and set a $61.00 target price on the stock. in a research report on Thursday, January 21st. KeyCorp boosted their target price on The Southern from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 27th. Finally, Credit Suisse Group boosted their target price on The Southern from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The Southern currently has an average rating of “Hold” and an average target price of $66.08.
In other The Southern news, EVP James Y. Kerr II sold 25,000 shares of the stock in a transaction on Tuesday, April 20th. The stock was sold at an average price of $66.16, for a total transaction of $1,654,000.00. Following the transaction, the executive vice president now owns 126,918 shares of the company’s stock, valued at approximately $8,396,894.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen E. Kuczynski sold 2,500 shares of the stock in a transaction on Wednesday, February 10th. The stock was sold at an average price of $61.00, for a total value of $152,500.00. Following the transaction, the chief executive officer now directly owns 66,127 shares in the company, valued at approximately $4,033,747. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,049 shares of company stock worth $2,460,650. 0.39% of the stock is owned by insiders.
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 and battery energy storage 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.
Featured Story: What is cost of equity?
Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Southern Company (NYSE:SO).
Receive News & Ratings for The Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Southern and related companies with MarketBeat.com's FREE daily email newsletter.