Ellsworth Advisors LLC Boosts Holdings in The Southern Company (NYSE:SO)

Ellsworth Advisors LLC raised its holdings in The Southern Company (NYSE:SO) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,693 shares of the utilities provider’s stock after purchasing an additional 1,209 shares during the quarter. Southern accounts for approximately 1.5% of Ellsworth Advisors LLC’s investment portfolio, making the stock its 20th biggest holding. Ellsworth Advisors LLC’s holdings in Southern were worth $4,606,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Rockline Wealth Management LLC acquired a new position in shares of Southern in the fourth quarter worth about $1,945,000. Bollard Group LLC raised its position in shares of Southern by 1.0% in the second quarter. Bollard Group LLC now owns 431,500 shares of the utilities provider’s stock worth $30,313,000 after acquiring an additional 4,082 shares during the period. Cullinan Associates Inc. raised its position in shares of Southern by 200.9% in the third quarter. Cullinan Associates Inc. now owns 76,227 shares of the utilities provider’s stock worth $4,933,000 after acquiring an additional 50,897 shares during the period. Apella Capital LLC acquired a new position in shares of Southern in the fourth quarter worth about $301,000. Finally, Elevated Capital Advisors LLC raised its position in shares of Southern by 2.4% in the second quarter. Elevated Capital Advisors LLC now owns 24,377 shares of the utilities provider’s stock worth $1,712,000 after acquiring an additional 582 shares during the period. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Trading Up 1.0 %

Shares of NYSE SO traded up $0.69 during midday trading on Friday, reaching $71.74. 4,731,193 shares of the stock were exchanged, compared to its average volume of 4,381,521. The company has a 50 day simple moving average of $68.43 and a 200 day simple moving average of $68.85. The stock has a market capitalization of $78.27 billion, a P/E ratio of 19.76, a PEG ratio of 4.44 and a beta of 0.49. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.56 and a current ratio of 0.77. The Southern Company has a twelve month low of $61.56 and a twelve month high of $75.80.

Southern (NYSE:SO) last announced its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.90 billion. Southern had a net margin of 15.79% and a return on equity of 11.40%. The business’s revenue was down 14.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 EPS. As a group, equities analysts expect that The Southern Company will post 4 earnings per share for the current year.

Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.80 annualized dividend and a yield of 3.90%. Southern’s dividend payout ratio (DPR) is presently 77.14%.

Insider Activity at Southern

In related news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $68.92, for a total value of $344,600.00. Following the completion of the sale, the chief executive officer now owns 126,528 shares in the company, valued at approximately $8,720,309.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Southern news, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $68.92, for a total value of $344,600.00. Following the completion of the transaction, the chief executive officer now owns 126,528 shares of the company’s stock, valued at approximately $8,720,309.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christopher Cummiskey sold 899 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total transaction of $60,286.94. Following the completion of the transaction, the executive vice president now directly owns 22,502 shares of the company’s stock, valued at approximately $1,508,984.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,998 shares of company stock worth $1,806,063. Insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. BMO Capital Markets reduced their price target on shares of Southern from $75.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Royal Bank of Canada restated an “outperform” rating and set a $80.00 price target on shares of Southern in a research report on Wednesday, February 21st. Citigroup assumed coverage on shares of Southern in a research report on Friday, December 8th. They set a “buy” rating and a $82.00 price target for the company. Barclays reduced their price target on shares of Southern from $68.00 to $67.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 17th. Finally, Wells Fargo & Company reduced their price target on shares of Southern from $75.00 to $72.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $73.46.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.