Elmwood Wealth Management Inc. Buys New Stake in Southern (SO)

Elmwood Wealth Management Inc. bought a new stake in shares of Southern (NYSE:SO) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,000 shares of the utilities provider’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its holdings in Southern by 4.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,636,723 shares of the utilities provider’s stock valued at $174,891,000 after purchasing an additional 153,320 shares in the last quarter. Cornerstone Financial Partners LLC purchased a new position in shares of Southern in the fourth quarter worth $563,000. Norris Perne & French LLP MI lifted its holdings in shares of Southern by 1.4% in the fourth quarter. Norris Perne & French LLP MI now owns 170,986 shares of the utilities provider’s stock worth $8,223,000 after buying an additional 2,299 shares in the last quarter. Ascension Asset Management LLC purchased a new stake in Southern during the fourth quarter valued at $267,000. Finally, Boston Advisors LLC raised its stake in Southern by 14.2% during the fourth quarter. Boston Advisors LLC now owns 13,412 shares of the utilities provider’s stock valued at $645,000 after purchasing an additional 1,665 shares in the last quarter. Institutional investors own 56.97% of the company’s stock.

NYSE SO opened at $43.55 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.55 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $43.94 billion, a PE ratio of 14.42, a P/E/G ratio of 3.34 and a beta of 0.01. Southern has a 12 month low of $42.38 and a 12 month high of $53.51.

Southern (NYSE:SO) last issued its earnings results on Wednesday, May 2nd. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.04. Southern had a net margin of 4.88% and a return on equity of 12.97%. The company had revenue of $6.37 billion for the quarter, compared to analysts’ expectations of $5.98 billion. During the same period in the prior year, the business earned $0.66 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. equities research analysts anticipate that Southern will post 2.89 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 6th. Shareholders of record on Monday, May 21st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.51%. This is a boost from Southern’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, May 18th. Southern’s dividend payout ratio is presently 79.47%.

A number of equities research analysts recently issued reports on SO shares. Zacks Investment Research raised shares of Southern from a “sell” rating to a “hold” rating in a research note on Tuesday, April 24th. SunTrust Banks reaffirmed a “hold” rating and set a $45.00 price target on shares of Southern in a research note on Tuesday, March 6th. JPMorgan Chase upped their price target on shares of Southern from $43.00 to $45.00 and gave the company an “underweight” rating in a research note on Tuesday, April 10th. Morgan Stanley upped their price target on shares of Southern from $44.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, April 16th. Finally, Guggenheim reaffirmed a “buy” rating and set a $51.00 price target on shares of Southern in a research note on Friday, February 23rd. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $49.10.

Southern Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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