AlphaQuest LLC Increases Holdings in Southern Company (The) $SO

AlphaQuest LLC increased its holdings in shares of Southern Company (The) (NYSE:SO) by 153.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,023 shares of the utilities provider’s stock after purchasing an additional 21,204 shares during the period. AlphaQuest LLC’s holdings in Southern were worth $3,054,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SO. Cloud Capital Management LLC acquired a new stake in shares of Southern in the 3rd quarter valued at about $25,000. Triumph Capital Management acquired a new stake in Southern during the third quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Southern in the 4th quarter worth about $31,000. Chilton Capital Management LLC grew its position in Southern by 120.1% in the 3rd 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. Finally, Aster Capital Management DIFC Ltd bought a new position in Southern in the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Evercore upgraded shares of Southern from an “in-line” rating to an “outperform” rating and set a $111.00 price objective for the company in a report on Thursday, March 5th. Weiss Ratings upgraded shares of Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Raymond James Financial restated an “outperform” rating and issued a $104.00 price target on shares of Southern in a research report on Friday, May 1st. Citigroup restated a “buy” rating on shares of Southern in a research report on Friday, April 10th. Finally, KeyCorp upgraded shares of Southern from an “underweight” rating to a “sector weight” rating in a research report on Wednesday, March 4th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $99.56.

Insider Activity

In other news, CEO Kimberly S. Greene sold 25,000 shares of the business’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the transaction, the chief executive officer owned 103,602 shares in the company, valued at approximately $10,015,205.34. The trade was a 19.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christopher Cummiskey sold 6,669 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $96.55, for a total transaction of $643,891.95. Following the transaction, the executive vice president owned 30,800 shares in the company, valued at approximately $2,973,740. The trade was a 17.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company’s stock.

Southern Stock Performance

Shares of SO opened at $94.67 on Tuesday. The company has a market capitalization of $106.72 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 2.86 and a beta of 0.36. Southern Company has a one year low of $83.80 and a one year high of $100.83. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.65 and a quick ratio of 0.45. The company’s fifty day moving average price is $95.00 and its 200 day moving average price is $91.79.

Southern (NYSE:SO) last announced its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.21 by $0.11. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 EPS. As a group, analysts expect that Southern Company will post 4.57 earnings per share for the current year.

Southern Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Monday, May 18th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, May 18th. This is a positive change from Southern’s previous quarterly dividend of $0.74. Southern’s payout ratio is presently 77.35%.

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.