Waterfront Wealth Inc. Has $829,000 Stock Position in The Southern Company (NYSE:SO)

Waterfront Wealth Inc. increased its holdings in shares of The Southern Company (NYSE:SO) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,823 shares of the utilities provider’s stock after buying an additional 254 shares during the quarter. Waterfront Wealth Inc.’s holdings in Southern were worth $829,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Daiwa Securities Group Inc. boosted its position in shares of Southern by 9.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 100,736 shares of the utilities provider’s stock worth $7,064,000 after buying an additional 8,842 shares during the period. Telos Capital Management Inc. increased its position in shares of Southern by 4.1% during the 4th quarter. Telos Capital Management Inc. now owns 74,512 shares of the utilities provider’s stock worth $5,225,000 after purchasing an additional 2,968 shares during the last quarter. Alpha Omega Wealth Management LLC acquired a new stake in shares of Southern in the 4th quarter valued at approximately $206,000. Latitude Advisors LLC bought a new position in shares of Southern in the fourth quarter valued at $204,000. Finally, Tyche Wealth Partners LLC bought a new stake in Southern during the fourth quarter worth $1,651,000. Institutional investors own 64.10% of the company’s stock.

Insider Activity

In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $68.92, for a total value of $344,600.00. Following the completion of the transaction, the chief executive officer now owns 126,528 shares of the company’s stock, valued at $8,720,309.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Southern news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $68.92, for a total transaction of $344,600.00. Following the completion of the sale, the chief executive officer now directly owns 126,528 shares in the company, valued at $8,720,309.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher Cummiskey sold 899 shares of Southern stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total value of $60,286.94. Following the completion of the transaction, the executive vice president now owns 22,502 shares in the company, valued at approximately $1,508,984.12. The disclosure for this sale can be found here. In the last three months, insiders sold 10,899 shares of company stock worth $739,587. 0.28% of the stock is currently owned by company insiders.

Southern Stock Performance

Southern stock traded up $0.02 during midday trading on Thursday, hitting $69.82. The company’s stock had a trading volume of 411,323 shares, compared to its average volume of 4,580,204. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.77 and a quick ratio of 0.56. The company has a market cap of $76.43 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 4.23 and a beta of 0.49. The Southern Company has a 1-year low of $61.56 and a 1-year high of $75.80. The company has a 50-day moving average price of $68.84 and a two-hundred day moving average price of $68.98.

Southern (NYSE:SO) last released its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.90 billion. Southern had a net margin of 15.79% and a return on equity of 11.40%. The firm’s quarterly revenue was down 14.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 earnings per share. As a group, sell-side analysts predict that The Southern Company will post 4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and set a $76.00 price objective (up from $72.00) on shares of Southern in a research note on Monday, April 1st. Mizuho boosted their price target on Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Barclays raised their price objective on Southern from $65.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday. Wells Fargo & Company decreased their target price on Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $80.00 price target on shares of Southern in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $74.07.

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.