Adirondack Trust Co. Sells 893 Shares of The Southern Company (NYSE:SO)

Adirondack Trust Co. decreased its position in shares of The Southern Company (NYSE:SOFree Report) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,555 shares of the utilities provider’s stock after selling 893 shares during the quarter. Adirondack Trust Co.’s holdings in Southern were worth $1,113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SO. Nomura Holdings Inc. purchased a new position in Southern in the fourth quarter worth $1,547,000. HighPoint Advisor Group LLC purchased a new position in Southern in the fourth quarter worth $2,585,000. Skyline Advisors Inc. purchased a new position in Southern in the fourth quarter worth $526,000. BlueChip Wealth Advisors LLC purchased a new position in Southern in the fourth quarter worth $762,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of Southern during the 4th quarter valued at $1,061,000. Institutional investors own 64.10% of the company’s stock.

Insider Activity

In related news, CEO Kimberly S. Greene sold 9,126 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total transaction of $684,815.04. Following the completion of the sale, the chief executive officer now directly owns 121,504 shares in the company, valued at approximately $9,117,660.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Southern Price Performance

NYSE SO traded down $0.05 during trading on Tuesday, reaching $77.63. The company’s stock had a trading volume of 602,081 shares, compared to its average volume of 4,656,021. The stock has a market capitalization of $84.88 billion, a PE ratio of 20.07, a P/E/G ratio of 2.83 and a beta of 0.51. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.92 and a quick ratio of 0.65. The firm has a fifty day moving average of $76.04 and a 200 day moving average of $71.85. The Southern Company has a one year low of $61.56 and a one year high of $80.84.

Southern (NYSE:SOGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.90 by $0.13. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.59 billion. Southern had a return on equity of 12.07% and a net margin of 16.74%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 EPS. Analysts expect that The Southern Company will post 3.99 EPS for the current fiscal year.

Southern Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Monday, May 20th were given a dividend of $0.72 per share. The ex-dividend date was Friday, May 17th. This is a positive change from Southern’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 3.71%. Southern’s dividend payout ratio is 74.42%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SO shares. Scotiabank dropped their price target on Southern from $80.00 to $77.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $76.00 price target (up previously from $72.00) on shares of Southern in a research report on Monday, April 1st. Wells Fargo & Company upped their price target on Southern from $72.00 to $77.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Mizuho upped their price target on Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $80.00 price objective on shares of Southern in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.36.

Check Out Our Latest Stock Report on Southern

Southern Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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