Coastal Bridge Advisors LLC Increases Stock Position in The Southern Company (NYSE:SO)

Coastal Bridge Advisors LLC boosted its stake in The Southern Company (NYSE:SO) by 9.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,099 shares of the utilities provider’s stock after purchasing an additional 2,326 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in The Southern were worth $1,700,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its stake in The Southern by 0.5% in the 1st quarter. BlackRock Inc. now owns 71,983,321 shares of the utilities provider’s stock worth $4,474,482,000 after purchasing an additional 343,586 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of The Southern by 12.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,940,360 shares of the utilities provider’s stock valued at $2,731,333,000 after buying an additional 4,972,698 shares in the last quarter. Geode Capital Management LLC raised its position in shares of The Southern by 2.2% during the 1st quarter. Geode Capital Management LLC now owns 15,281,811 shares of the utilities provider’s stock valued at $947,527,000 after buying an additional 323,175 shares in the last quarter. Federated Hermes Inc. raised its position in shares of The Southern by 0.3% during the 1st quarter. Federated Hermes Inc. now owns 6,511,651 shares of the utilities provider’s stock valued at $404,764,000 after buying an additional 16,583 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of The Southern by 1.7% during the 1st quarter. Swiss National Bank now owns 5,447,519 shares of the utilities provider’s stock valued at $338,618,000 after buying an additional 88,600 shares in the last quarter. Institutional investors and hedge funds own 59.30% of the company’s stock.

In other news, insider Ann P. Daiss sold 1,750 shares of the stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $64.34, for a total transaction of $112,595.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stephen E. Kuczynski sold 2,500 shares of the stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $67.04, for a total transaction of $167,600.00. Following the sale, the chief executive officer now directly owns 89,151 shares of the company’s stock, valued at approximately $5,976,683.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,247 shares of company stock worth $5,813,034. Insiders own 0.43% of the company’s stock.

SO stock traded up $0.27 during mid-day trading on Wednesday, reaching $66.24. The company had a trading volume of 113,802 shares, compared to its average volume of 4,001,654. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.82 and a quick ratio of 0.65. The company has a market capitalization of $70.14 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 4.01 and a beta of 0.45. The firm has a 50 day moving average of $64.79 and a 200 day moving average of $63.53. The Southern Company has a 12 month low of $52.01 and a 12 month high of $67.54.

The Southern (NYSE:SO) last issued its earnings results on Thursday, July 29th. The utilities provider reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.05. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5 billion. The Southern had a net margin of 14.47% and a return on equity of 11.43%. Analysts anticipate that The Southern Company will post 3.35 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 7th. Stockholders of record on Monday, August 16th were paid a dividend of $0.66 per share. The ex-dividend date was Friday, August 13th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.99%. The Southern’s dividend payout ratio is presently 81.23%.

Several analysts have recently issued reports on the stock. Mizuho upped their target price on shares of The Southern from $57.00 to $60.00 and gave the company an “underperform” rating in a research report on Monday, August 30th. Argus upped their target price on shares of The Southern from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, May 19th. Guggenheim upgraded shares of The Southern from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Tuesday, September 7th. Morgan Stanley increased their price objective on shares of The Southern from $60.00 to $64.00 and gave the stock an “underweight” rating in a research report on Thursday, August 19th. Finally, Credit Suisse Group reissued a “buy” rating on shares of The Southern in a research report on Wednesday, May 19th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $68.69.

The Southern Company Profile

The Southern Co is a holding company. The firm engages in the sale of electricity. It operates through the following segments: Traditional Electric Operating Companies, Southern Power and Southern Company Gas. The Traditional Electric Operating Companies segment refers to vertically integrated utilities that own generation, transmission and distribution facilities, and supplies electric services in the states of Alabama, Georgia, Florida, and Mississippi.

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Institutional Ownership by Quarter for The Southern (NYSE:SO)

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