The Southern Company (NYSE:SO) Shares Sold by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC lessened its holdings in shares of The Southern Company (NYSE:SO) by 2.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,728 shares of the utilities provider’s stock after selling 430 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Southern were worth $1,033,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in Southern by 38.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,547,188 shares of the utilities provider’s stock worth $488,461,000 after buying an additional 2,096,988 shares during the period. FMR LLC boosted its holdings in Southern by 5.0% in the third quarter. FMR LLC now owns 38,906,760 shares of the utilities provider’s stock valued at $2,518,045,000 after purchasing an additional 1,838,857 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Southern by 6,303.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,199,544 shares of the utilities provider’s stock worth $84,112,000 after purchasing an additional 1,180,812 shares during the last quarter. Reaves W H & Co. Inc. raised its position in shares of Southern by 8,375.3% in the 3rd quarter. Reaves W H & Co. Inc. now owns 849,646 shares of the utilities provider’s stock valued at $54,989,000 after purchasing an additional 839,621 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Southern by 24.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,480,805 shares of the utilities provider’s stock valued at $160,558,000 after buying an additional 485,562 shares during the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Insider Activity at Southern

In related news, CEO Kimberly S. Greene sold 9,126 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total value of $684,815.04. Following the completion of the sale, the chief executive officer now owns 121,504 shares of the company’s stock, valued at $9,117,660.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $66.94, for a total value of $334,700.00. Following the completion of the sale, the chief executive officer now owns 129,552 shares in the company, valued at $8,672,210.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kimberly S. Greene sold 9,126 shares of Southern stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total value of $684,815.04. Following the transaction, the chief executive officer now directly owns 121,504 shares in the company, valued at $9,117,660.16. The disclosure for this sale can be found here. Insiders have sold a total of 19,126 shares of company stock worth $1,364,115 in the last three months. 0.18% of the stock is owned by company insiders.

Southern Stock Performance

NYSE SO traded up $0.62 during trading hours on Thursday, hitting $78.25. The company had a trading volume of 5,541,038 shares, compared to its average volume of 4,853,168. The company has a quick ratio of 0.65, a current ratio of 0.92 and a debt-to-equity ratio of 1.67. The firm has a market cap of $85.66 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 4.75 and a beta of 0.48. The Southern Company has a fifty-two week low of $61.56 and a fifty-two week high of $78.29. The business has a fifty day simple moving average of $71.22 and a 200-day simple moving average of $69.93.

Southern (NYSE:SO) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.59 billion. Southern had a net margin of 16.74% and a return on equity of 12.07%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. Equities analysts predict that The Southern Company will post 3.99 EPS for the current year.

Southern Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Monday, May 20th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Southern’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 3.68%. Southern’s payout ratio is currently 74.42%.

Wall Street Analysts Forecast Growth

SO has been the topic of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $76.00 price target (up from $72.00) on shares of Southern in a report on Monday, April 1st. Mizuho upped their target price on shares of Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 price target on shares of Southern in a research note on Wednesday, February 21st. Bank of America increased their target price on Southern from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. Finally, Scotiabank lowered their price target on Southern from $80.00 to $77.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.71.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.