IFP Advisors Inc grew its holdings in Southern Company (The) (NYSE:SO – Free Report) by 201.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 37,114 shares of the utilities provider’s stock after buying an additional 24,790 shares during the period. IFP Advisors Inc’s holdings in Southern were worth $3,236,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the business. Cornerstone Wealth Management LLC boosted its holdings in Southern by 2.1% in the third quarter. Cornerstone Wealth Management LLC now owns 5,155 shares of the utilities provider’s stock worth $489,000 after acquiring an additional 108 shares in the last quarter. Samalin Investment Counsel LLC boosted its holdings in Southern by 4.3% in the third quarter. Samalin Investment Counsel LLC now owns 2,691 shares of the utilities provider’s stock worth $255,000 after acquiring an additional 111 shares in the last quarter. Gentry Private Wealth LLC boosted its holdings in Southern by 2.3% in the third quarter. Gentry Private Wealth LLC now owns 4,991 shares of the utilities provider’s stock worth $473,000 after acquiring an additional 114 shares in the last quarter. Cassaday & Co Wealth Management LLC boosted its holdings in Southern by 0.9% in the third quarter. Cassaday & Co Wealth Management LLC now owns 12,534 shares of the utilities provider’s stock worth $1,188,000 after acquiring an additional 116 shares in the last quarter. Finally, Accredited Investors Inc. boosted its holdings in Southern by 5.2% in the fourth quarter. Accredited Investors Inc. now owns 2,446 shares of the utilities provider’s stock worth $213,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.
Insider Buying and Selling
In other Southern news, CEO Kimberly S. Greene sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $96.67, for a total value of $2,416,750.00. Following the completion of the transaction, the chief executive officer directly owned 103,602 shares of the company’s stock, valued at approximately $10,015,205.34. The trade was a 19.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christopher Cummiskey sold 6,669 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $96.55, for a total value of $643,891.95. Following the completion of the transaction, the executive vice president directly owned 30,800 shares of the company’s stock, valued at $2,973,740. The trade was a 17.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.16% of the company’s stock.
Wall Street Analysts Forecast Growth
Southern Trading Up 0.7%
Southern stock opened at $94.31 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. Southern Company has a 52 week low of $83.80 and a 52 week high of $100.83. The company has a market capitalization of $106.32 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 2.83 and a beta of 0.36. The stock has a 50-day moving average price of $95.10 and a 200 day moving average price of $91.77.
Southern (NYSE:SO – Get Free Report) last released its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.11. Southern had a return on equity of 12.64% and a net margin of 14.46%.The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The company’s revenue was up 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Southern Company will post 4.57 EPS for the current year.
Southern Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Monday, May 18th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.2%. This is a positive change from Southern’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, May 18th. Southern’s dividend payout ratio is presently 77.35%.
About Southern
Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.
Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.
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