BT Wealth Management LLC Has $680,000 Stake in Southern Co (SO)

BT Wealth Management LLC decreased its holdings in shares of Southern Co (NYSE:SO) by 11.4% during the 1st quarter, Holdings Channel reports. The firm owned 13,151 shares of the utilities provider’s stock after selling 1,697 shares during the period. Southern accounts for about 0.4% of BT Wealth Management LLC’s investment portfolio, making the stock its 29th largest holding. BT Wealth Management LLC’s holdings in Southern were worth $680,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Southern by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 10,620,343 shares of the utilities provider’s stock worth $463,048,000 after purchasing an additional 193,771 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Southern by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,817,412 shares of the utilities provider’s stock valued at $79,230,000 after acquiring an additional 36,654 shares in the last quarter. Paloma Partners Management Co acquired a new stake in Southern in the third quarter valued at approximately $871,000. Pacer Advisors Inc. grew its holdings in Southern by 12.1% in the third quarter. Pacer Advisors Inc. now owns 55,037 shares of the utilities provider’s stock valued at $2,400,000 after purchasing an additional 5,937 shares during the period. Finally, Caxton Associates LP acquired a new stake in Southern in the third quarter valued at approximately $380,000. Institutional investors and hedge funds own 56.84% of the company’s stock.

SO has been the topic of several research analyst reports. Zacks Investment Research lowered Southern from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. Guggenheim reissued a “hold” rating and issued a $44.00 price objective on shares of Southern in a report on Monday, January 7th. reissued a “sell” rating on shares of Southern in a report on Wednesday, February 13th. Citigroup raised Southern from a “sell” rating to a “neutral” rating and raised their price objective for the company from $45.00 to $50.00 in a report on Thursday, January 24th. Finally, SunTrust Banks reissued a “hold” rating and issued a $52.00 price objective on shares of Southern in a report on Monday, February 25th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $47.15.

Shares of NYSE:SO traded up $0.22 during trading on Monday, reaching $52.72. The stock had a trading volume of 4,598,713 shares, compared to its average volume of 4,991,989. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.67 and a quick ratio of 0.54. The firm has a market capitalization of $54.64 billion, a PE ratio of 17.17, a P/E/G ratio of 3.82 and a beta of 0.20. Southern Co has a 1-year low of $42.42 and a 1-year high of $52.81.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, February 20th. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.02. The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.88 billion. Southern had a return on equity of 11.39% and a net margin of 9.54%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, analysts expect that Southern Co will post 3.03 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Monday, May 20th will be paid a $0.62 dividend. This is a positive change from Southern’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.70%. Southern’s payout ratio is currently 78.18%.

In other news, CEO William P. Bowers sold 90,942 shares of Southern stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $48.60, for a total value of $4,419,781.20. Following the sale, the chief executive officer now directly owns 177,043 shares of the company’s stock, valued at $8,604,289.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher C. Womack sold 18,922 shares of Southern stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $50.36, for a total value of $952,911.92. Following the completion of the sale, the executive vice president now directly owns 10,165 shares in the company, valued at $511,909.40. The disclosure for this sale can be found here. Insiders sold 383,341 shares of company stock worth $19,342,988 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

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Southern 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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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