Crabel Capital Management LLC Invests $265,000 in Southern Co (NYSE:SO)

Crabel Capital Management LLC bought a new stake in shares of Southern Co (NYSE:SO) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,135 shares of the utilities provider’s stock, valued at approximately $265,000.

A number of other hedge funds have also recently made changes to their positions in the stock. AdvisorNet Financial Inc boosted its position in Southern by 14.3% during the 1st quarter. AdvisorNet Financial Inc now owns 9,499 shares of the utilities provider’s stock worth $491,000 after acquiring an additional 1,186 shares during the period. Relative Value Partners Group LLC acquired a new stake in Southern during the 1st quarter worth about $210,000. Altavista Wealth Management Inc. acquired a new stake in Southern during the 1st quarter worth about $219,000. Callodine Capital Management LP acquired a new stake in Southern during the 1st quarter worth about $775,000. Finally, Marino Stram & Associates LLC boosted its position in Southern by 76.8% during the 1st quarter. Marino Stram & Associates LLC now owns 2,115 shares of the utilities provider’s stock worth $109,000 after acquiring an additional 919 shares during the period. 56.67% of the stock is owned by institutional investors and hedge funds.

SO opened at $55.15 on Friday. Southern Co has a fifty-two week low of $42.50 and a fifty-two week high of $55.95. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.88 and a quick ratio of 0.69. The stock has a market cap of $56.75 billion, a PE ratio of 17.96, a PEG ratio of 4.00 and a beta of 0.19.

Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.70 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.70. Southern had a return on equity of 10.37% and a net margin of 15.03%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the business earned $0.88 EPS. The business’s quarterly revenue was down 15.1% on a year-over-year basis. On average, research analysts forecast that Southern Co will post 3.03 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Monday, May 20th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, May 17th. This is an increase from Southern’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.50%. Southern’s dividend payout ratio (DPR) is 80.78%.

In related news, CEO William P. Bowers sold 233,477 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $51.29, for a total value of $11,975,035.33. Following the transaction, the chief executive officer now directly owns 354,212 shares of the company’s stock, valued at approximately $18,167,533.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark A. Crosswhite sold 267,442 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $54.42, for a total value of $14,554,193.64. Following the completion of the transaction, the chief executive officer now directly owns 125,727 shares in the company, valued at $6,842,063.34. The disclosure for this sale can be found here. Insiders have sold a total of 708,324 shares of company stock valued at $37,841,279 over the last ninety days. Company insiders own 0.88% of the company’s stock.

A number of equities research analysts have commented on SO shares. Evercore ISI upgraded Southern from an “in-line” rating to an “outperform” rating in a research report on Friday, May 3rd. SunTrust Banks restated a “hold” rating and set a $52.00 price objective on shares of Southern in a research report on Monday, February 25th. Zacks Investment Research upgraded Southern from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Monday, May 20th. ValuEngine lowered Southern from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Finally, Credit Suisse Group set a $51.00 price objective on Southern and gave the stock a “sell” rating in a research report on Monday, April 22nd. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $48.92.

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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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