Southern Company (The) $SO Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC trimmed its position in Southern Company (The) (NYSE:SO) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,689 shares of the utilities provider’s stock after selling 7,403 shares during the period. Wealthfront Advisers LLC’s holdings in Southern were worth $14,361,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new stake in Southern in the third quarter worth about $25,000. Triumph Capital Management acquired a new stake in Southern in the third quarter worth about $29,000. Grey Fox Wealth Advisors LLC acquired a new stake in Southern in the third quarter worth about $29,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Southern in the third quarter worth about $34,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Southern in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Trading Up 0.7%

Southern stock opened at $94.46 on Wednesday. The company has a quick ratio of 0.47, a current ratio of 0.65 and a debt-to-equity ratio of 1.69. Southern Company has a 52 week low of $83.09 and a 52 week high of $100.83. The company has a market capitalization of $106.59 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 2.83 and a beta of 0.41. The stock has a 50-day moving average price of $95.80 and a 200 day moving average price of $92.08.

Southern (NYSE:SO) last released its earnings results on Wednesday, February 18th. The utilities provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Southern had a return on equity of 12.52% and a net margin of 14.69%.The firm had revenue of $6.98 billion for the quarter, compared to analyst estimates of $6.41 billion. During the same period last year, the firm earned $0.50 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Sell-side analysts anticipate that Southern Company will post 4.58 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 75.32%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Southern in a report on Wednesday, January 21st. Citigroup reissued a “buy” rating on shares of Southern in a report on Friday, April 10th. Jefferies Financial Group reissued a “hold” rating and issued a $102.00 price target on shares of Southern in a report on Monday, February 23rd. Evercore raised 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. Finally, Scotiabank raised their price target on Southern from $101.00 to $103.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. Seven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Southern currently has an average rating of “Hold” and a consensus target price of $99.08.

Insider Transactions at Southern

In related news, CEO Kimberly S. Greene sold 25,000 shares of Southern stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the completion of the sale, the chief executive officer owned 103,602 shares of the company’s stock, 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 document filed with the SEC, which is available through this hyperlink. Also, EVP Christopher Cummiskey sold 6,669 shares of Southern stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $96.55, for a total value of $643,891.95. Following the sale, the executive vice president directly owned 30,800 shares of the company’s stock, valued at $2,973,740. This trade represents a 17.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.16% of the company’s stock.

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.