Family Legacy Inc. Cuts Holdings in Southern Co (NYSE:SO)

Family Legacy Inc. cut its position in shares of Southern Co (NYSE:SO) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,818 shares of the utilities provider’s stock after selling 1,967 shares during the quarter. Southern makes up about 1.5% of Family Legacy Inc.’s holdings, making the stock its 21st biggest position. Family Legacy Inc.’s holdings in Southern were worth $2,618,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Donaldson Capital Management LLC boosted its holdings in Southern by 15.1% during the fourth quarter. Donaldson Capital Management LLC now owns 11,069 shares of the utilities provider’s stock worth $705,000 after purchasing an additional 1,456 shares during the last quarter. 6 Meridian boosted its holdings in Southern by 1.6% during the fourth quarter. 6 Meridian now owns 323,487 shares of the utilities provider’s stock worth $20,606,000 after purchasing an additional 5,103 shares during the last quarter. Cypress Wealth Services LLC boosted its holdings in Southern by 7.9% during the fourth quarter. Cypress Wealth Services LLC now owns 4,874 shares of the utilities provider’s stock worth $310,000 after purchasing an additional 358 shares during the last quarter. Patten & Patten Inc. TN boosted its holdings in Southern by 5.2% during the fourth quarter. Patten & Patten Inc. TN now owns 14,724 shares of the utilities provider’s stock worth $938,000 after purchasing an additional 732 shares during the last quarter. Finally, HNP Capital LLC boosted its holdings in Southern by 20.3% during the fourth quarter. HNP Capital LLC now owns 7,087 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 1,197 shares during the last quarter. Institutional investors and hedge funds own 58.97% of the company’s stock.

In other news, CEO Thomas A. Fanning sold 2,066,499 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $62.99, for a total value of $130,168,772.01. Following the sale, the chief executive officer now owns 1,236,147 shares of the company’s stock, valued at $77,864,899.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP James Y. Kerr II sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $64.16, for a total transaction of $1,604,000.00. Following the completion of the sale, the executive vice president now directly owns 67,655 shares in the company, valued at approximately $4,340,744.80. The disclosure for this sale can be found here. In the last three months, insiders sold 2,102,254 shares of company stock worth $132,226,126. Insiders own 0.88% of the company’s stock.

SO traded up $0.36 during midday trading on Tuesday, reaching $64.90. The company had a trading volume of 284,912 shares, compared to its average volume of 4,332,771. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.77 and a current ratio of 0.94. The stock has a market cap of $66.76 billion, a PE ratio of 21.13, a P/E/G ratio of 4.45 and a beta of 0.15. Southern Co has a 12-month low of $45.55 and a 12-month high of $64.82. The business has a 50-day moving average price of $62.63 and a two-hundred day moving average price of $60.06.

Southern (NYSE:SO) last released its earnings results on Wednesday, October 30th. The utilities provider reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.20. Southern had a net margin of 21.02% and a return on equity of 10.52%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.01 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. On average, research analysts anticipate that Southern Co will post 3.09 earnings per share for the current year.

Several research analysts recently weighed in on the stock. Credit Suisse Group boosted their price target on shares of Southern from $60.00 to $64.00 and gave the stock an “underperform” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their target price on shares of Southern from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Wednesday, December 18th. Evercore ISI reiterated a “hold” rating and issued a $63.50 target price on shares of Southern in a research note on Sunday, December 15th. Finally, SunTrust Banks boosted their target price on shares of Southern from $60.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Five equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. Southern presently has a consensus rating of “Hold” and a consensus target price of $59.77.

Southern Company Profile

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.

Further Reading: Risk Tolerance

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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