Mutual Advisors LLC Sells 234 Shares of The Southern Company (NYSE:SO)

Mutual Advisors LLC trimmed its holdings in shares of The Southern Company (NYSE:SOFree Report) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,698 shares of the utilities provider’s stock after selling 234 shares during the period. Mutual Advisors LLC’s holdings in Southern were worth $1,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Voisard Asset Management Group Inc. bought a new stake in shares of Southern in the 4th quarter valued at about $31,000. Scarborough Advisors LLC bought a new stake in shares of Southern in the 4th quarter valued at about $31,000. Versant Capital Management Inc boosted its holdings in shares of Southern by 62.0% in the 1st quarter. Versant Capital Management Inc now owns 444 shares of the utilities provider’s stock valued at $32,000 after buying an additional 170 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Southern in the 4th quarter valued at about $34,000. Finally, Valley National Advisers Inc. boosted its holdings in shares of Southern by 63.9% in the 4th quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider’s stock valued at $36,000 after buying an additional 205 shares in the last quarter. 64.10% of the stock is currently owned by institutional investors.

Southern Price Performance

NYSE:SO opened at $78.12 on Wednesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.92 and a quick ratio of 0.65. The firm has a market cap of $85.42 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 2.80 and a beta of 0.51. The company has a 50 day moving average price of $78.15 and a 200-day moving average price of $72.63. The Southern Company has a 1-year low of $61.56 and a 1-year high of $80.84.

Southern (NYSE:SOGet Free Report) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.13. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.59 billion. Southern had a net margin of 16.74% and a return on equity of 12.07%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. Equities research analysts forecast that The Southern Company will post 4 EPS for the current year.

Southern Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Monday, May 20th were paid a $0.72 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.88 dividend on an annualized basis and a yield of 3.69%. This is a boost from Southern’s previous quarterly dividend of $0.70. Southern’s dividend payout ratio (DPR) is currently 74.42%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Mizuho raised their price target on shares of Southern from $73.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Morgan Stanley decreased their price objective on shares of Southern from $74.00 to $71.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. UBS Group lowered shares of Southern from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $78.00 to $76.00 in a research report on Thursday, April 4th. Wells Fargo & Company increased their price objective on shares of Southern from $72.00 to $77.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Finally, Scotiabank decreased their price objective on shares of Southern from $80.00 to $77.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Southern currently has an average rating of “Hold” and an average target price of $76.50.

Check Out Our Latest Stock Report on SO

Insiders Place Their Bets

In other Southern news, CEO Kimberly S. Greene sold 9,126 shares of Southern stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total transaction of $684,815.04. Following the sale, the chief executive officer now owns 121,504 shares of the company’s stock, valued at approximately $9,117,660.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Sloane N. Drake sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $77.61, for a total transaction of $931,320.00. Following the transaction, the executive vice president now owns 16,771 shares of the company’s stock, valued at approximately $1,301,597.31. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kimberly S. Greene sold 9,126 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total transaction of $684,815.04. Following the transaction, the chief executive officer now directly owns 121,504 shares in the company, valued at approximately $9,117,660.16. The disclosure for this sale can be found here. Insiders have sold a total of 28,026 shares of company stock valued at $2,151,644 in the last 90 days. 0.18% of the stock is owned by insiders.

About Southern

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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