Resources Management Corp CT ADV Increases Stock Position in Southern Company (The) $SO

Resources Management Corp CT ADV grew its stake in shares of Southern Company (The) (NYSE:SO) by 173.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,263 shares of the utilities provider’s stock after buying an additional 7,138 shares during the quarter. Resources Management Corp CT ADV’s holdings in Southern were worth $982,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in SO. Ankerstar Wealth LLC acquired a new position in shares of Southern during the 4th quarter valued at $25,000. Triumph Capital Management acquired a new position in shares of Southern during the 3rd quarter valued at $29,000. Cornerstone Financial Management LLC acquired a new position in shares of Southern during the 4th quarter valued at $27,000. J.Safra Asset Management Corp acquired a new position in shares of Southern during the 4th quarter valued at $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Southern during the 4th quarter valued at $31,000. 64.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Raymond James Financial restated an “outperform” rating and set a $104.00 target price on shares of Southern in a report on Friday, May 1st. Mizuho set a $105.00 target price on shares of Southern in a report on Friday, May 1st. Evercore upgraded shares of Southern from an “in-line” rating to an “outperform” rating and set a $111.00 target price on the stock in a report on Thursday, March 5th. Truist Financial reduced their target price on shares of Southern from $103.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Finally, Weiss Ratings upgraded shares of Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $99.38.

Insiders Place Their Bets

In other Southern news, EVP Christopher Cummiskey sold 6,669 shares of the business’s stock in a transaction 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 transaction, the executive vice president owned 30,800 shares in the company, valued at $2,973,740. The trade was a 17.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kimberly S. Greene sold 25,000 shares of the business’s 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 directly owned 103,602 shares of the company’s stock, valued at $10,015,205.34. The trade was a 19.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company’s stock.

Southern Stock Performance

Shares of SO stock opened at $93.90 on Monday. Southern Company has a 12 month low of $83.80 and a 12 month high of $100.83. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.65 and a quick ratio of 0.45. The firm has a market capitalization of $105.85 billion, a P/E ratio of 23.89, a P/E/G ratio of 2.84 and a beta of 0.34. The company’s fifty day moving average price is $93.95 and its two-hundred day moving average price is $91.97.

Southern (NYSE:SO) last issued its quarterly earnings data 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 net margin of 14.46% and a return on equity of 12.64%. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same quarter in the previous year, the business posted $1.23 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, research analysts anticipate that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, May 18th were issued a $0.76 dividend. The ex-dividend date was Monday, May 18th. This represents a $3.04 dividend on an annualized basis and a yield of 3.2%. This is an increase from Southern’s previous quarterly dividend of $0.74. Southern’s dividend payout ratio (DPR) 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.