Mosley Wealth Management bought a new position in Southern Company (The) (NYSE:SO – Free Report) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 11,459 shares of the utilities provider’s stock, valued at approximately $1,102,000.
A number of other institutional investors have also bought and sold shares of SO. J.Safra Asset Management Corp purchased a new position in Southern in the 4th quarter worth approximately $27,000. Triumph Capital Management purchased a new position in Southern in the 3rd quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Southern in the 4th quarter worth approximately $31,000. Legacy Wealth Managment LLC ID purchased a new position in Southern in the 4th quarter worth approximately $33,000. Finally, Kingdom Financial Group LLC. purchased a new position in Southern in the 4th quarter worth approximately $33,000. 64.10% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on SO. Weiss Ratings upgraded shares of Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. KeyCorp upgraded shares of Southern from an “underweight” rating to a “sector weight” rating in a report on Wednesday, March 4th. Evercore upgraded shares of Southern from an “in-line” rating to an “outperform” rating and set a $111.00 price target for the company in a report on Thursday, March 5th. Citigroup restated a “buy” rating on shares of Southern in a report on Friday, April 10th. Finally, Wells Fargo & Company set a $96.00 price target on shares of Southern and gave the stock an “equal weight” rating in a report on Friday, February 20th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $99.38.
Insider Buying and Selling at Southern
In other Southern news, CEO Kimberly S. Greene sold 25,000 shares of the business’s stock in a transaction on Monday, March 30th. The shares were 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 owned 103,602 shares in the company, valued at $10,015,205.34. The trade was a 19.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Christopher Cummiskey sold 6,669 shares of Southern stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $96.55, for a total transaction of $643,891.95. Following the sale, the executive vice president directly owned 30,800 shares of the company’s stock, valued at approximately $2,973,740. This trade represents 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.
Southern Stock Down 0.7%
Southern stock opened at $93.37 on Friday. The firm has a 50 day moving average price of $94.01 and a 200 day moving average price of $91.94. The company has a market capitalization of $105.25 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 2.84 and a beta of 0.34. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.65. Southern Company has a fifty-two week low of $83.80 and a fifty-two week high of $100.83.
Southern (NYSE:SO – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.21 by $0.11. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Research analysts expect that Southern Company will post 4.58 earnings per share for the current year.
Southern Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, May 18th were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. This is a positive change from Southern’s previous quarterly dividend of $0.74. The ex-dividend date was Monday, May 18th. Southern’s payout ratio is presently 77.35%.
Southern Company Profile
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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