Southern Company (The) $SO is Confluence Investment Management LLC’s 9th Largest Position

Confluence Investment Management LLC lessened its position in Southern Company (The) (NYSE:SO) by 4.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,485,576 shares of the utilities provider’s stock after selling 63,850 shares during the period. Southern comprises about 1.9% of Confluence Investment Management LLC’s holdings, making the stock its 9th biggest position. Confluence Investment Management LLC’s holdings in Southern were worth $129,542,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Cloud Capital Management LLC purchased a new stake in Southern in the 3rd quarter worth approximately $25,000. Triumph Capital Management acquired a new position in Southern in the 3rd quarter valued at $29,000. Grey Fox Wealth Advisors LLC acquired a new position in Southern in the 3rd quarter valued at $29,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Southern during the 3rd quarter worth $34,000. Finally, Chilton Capital Management LLC boosted its holdings in shares of Southern by 120.1% during the third quarter. Chilton Capital Management LLC now owns 361 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Price Performance

Shares of Southern stock opened at $96.22 on Friday. Southern Company has a twelve month low of $83.09 and a twelve month high of $100.83. The stock has a market capitalization of $105.95 billion, a P/E ratio of 24.48, a PEG ratio of 2.91 and a beta of 0.44. The company has a current ratio of 0.65, a quick ratio of 0.47 and a debt-to-equity ratio of 1.69. The business’s fifty day moving average price is $92.64 and its 200 day moving average price is $91.72.

Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, February 18th. The utilities provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Southern had a net margin of 14.69% and a return on equity of 12.52%. The business had revenue of $6.98 billion for the quarter, compared to analyst estimates of $6.41 billion. During the same period last year, the firm earned $0.50 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, research analysts anticipate that Southern Company will post 4.29 earnings per share for the current year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th were given a $0.74 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $2.96 annualized dividend and a dividend yield of 3.1%. Southern’s dividend payout ratio is presently 75.32%.

Insider Activity

In other news, EVP Christopher Cummiskey sold 6,669 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $96.55, for a total value of $643,891.95. Following the completion of the sale, the executive vice president owned 30,800 shares in the company, valued at approximately $2,973,740. This trade represents a 17.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SO shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $105.00 price objective on shares of Southern in a research report on Friday, January 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $102.00 price target on shares of Southern in a research note on Monday, February 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Southern in a report on Wednesday, January 21st. JPMorgan Chase & Co. dropped their price objective on shares of Southern from $104.00 to $93.00 and set a “neutral” rating for the company in a research note on Monday, December 15th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Southern in a report on Friday, February 20th. Six investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $98.08.

About Southern

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.