Coastline Trust Co Sells 4,866 Shares of The Southern Company (NYSE:SO)

Coastline Trust Co lowered its position in The Southern Company (NYSE:SOFree Report) by 38.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,734 shares of the utilities provider’s stock after selling 4,866 shares during the quarter. Coastline Trust Co’s holdings in Southern were worth $542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Rockline Wealth Management LLC bought a new stake in shares of Southern in the 4th quarter valued at about $1,945,000. Bollard Group LLC boosted its holdings in Southern by 1.0% in the second quarter. Bollard Group LLC now owns 431,500 shares of the utilities provider’s stock valued at $30,313,000 after acquiring an additional 4,082 shares during the last quarter. Cullinan Associates Inc. increased its position in Southern by 200.9% during the 3rd quarter. Cullinan Associates Inc. now owns 76,227 shares of the utilities provider’s stock valued at $4,933,000 after purchasing an additional 50,897 shares during the period. Zullo Investment Group Inc. raised its holdings in Southern by 4.8% during the 4th quarter. Zullo Investment Group Inc. now owns 3,437 shares of the utilities provider’s stock worth $241,000 after purchasing an additional 157 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of Southern by 5.8% in the 4th quarter. Global Retirement Partners LLC now owns 14,856 shares of the utilities provider’s stock valued at $1,045,000 after purchasing an additional 819 shares during the last quarter. Institutional investors own 64.10% of the company’s stock.

Insider Buying and Selling at Southern

In other news, insider David P. Poroch sold 10,099 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $69.96, for a total value of $706,526.04. Following the completion of the transaction, the insider now owns 28,691 shares of the company’s stock, valued at approximately $2,007,222.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $71.99, for a total transaction of $359,950.00. Following the completion of the transaction, the chief executive officer now directly owns 101,284 shares in the company, valued at $7,291,435.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David P. Poroch sold 10,099 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $69.96, for a total value of $706,526.04. Following the transaction, the insider now directly owns 28,691 shares of the company’s stock, valued at approximately $2,007,222.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,998 shares of company stock valued at $1,806,063. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SO shares. Wells Fargo & Company dropped their target price on shares of Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. Citigroup initiated coverage on shares of Southern in a research note on Friday, December 8th. They issued a “buy” rating and a $82.00 price target for the company. Barclays cut their target price on Southern from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 17th. Mizuho lifted their price target on Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, BMO Capital Markets restated an “outperform” rating and set a $76.00 price target (up from $72.00) on shares of Southern in a report on Monday. One research 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.00.

Check Out Our Latest Stock Analysis on SO

Southern Price Performance

SO stock opened at $71.35 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.56 and a debt-to-equity ratio of 1.62. The firm’s 50-day moving average price is $68.59 and its two-hundred day moving average price is $68.89. The stock has a market capitalization of $77.84 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 4.44 and a beta of 0.49. The Southern Company has a 12-month low of $61.56 and a 12-month high of $75.80.

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

Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th were issued a $0.70 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.80 annualized dividend and a yield of 3.92%. Southern’s dividend payout ratio (DPR) is presently 77.14%.

About Southern

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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