Keel Point LLC Sells 2,564 Shares of The Southern Company (NYSE:SO)

Keel Point LLC reduced its holdings in The Southern Company (NYSE:SO) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,970 shares of the utilities provider’s stock after selling 2,564 shares during the quarter. Southern makes up approximately 0.7% of Keel Point LLC’s holdings, making the stock its 22nd largest holding. Keel Point LLC’s holdings in Southern were worth $6,168,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Insigneo Advisory Services LLC lifted its holdings in Southern by 3.1% during the 3rd quarter. Insigneo Advisory Services LLC now owns 4,883 shares of the utilities provider’s stock worth $316,000 after buying an additional 146 shares in the last quarter. Good Life Advisors LLC lifted its holdings in Southern by 0.8% during the 4th quarter. Good Life Advisors LLC now owns 19,956 shares of the utilities provider’s stock worth $1,399,000 after buying an additional 149 shares in the last quarter. Insight Inv LLC lifted its holdings in Southern by 1.4% during the 4th quarter. Insight Inv LLC now owns 10,530 shares of the utilities provider’s stock worth $738,000 after buying an additional 150 shares in the last quarter. Patten & Patten Inc. TN lifted its holdings in Southern by 0.7% during the 4th quarter. Patten & Patten Inc. TN now owns 20,736 shares of the utilities provider’s stock worth $1,454,000 after buying an additional 150 shares in the last quarter. Finally, Willis Johnson & Associates Inc. lifted its holdings in Southern by 3.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 4,365 shares of the utilities provider’s stock worth $306,000 after buying an additional 151 shares in the last quarter. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Price Performance

Southern stock traded down $0.63 during mid-day trading on Monday, reaching $68.10. The company had a trading volume of 2,041,618 shares, compared to its average volume of 4,583,688. The Southern Company has a fifty-two week low of $61.56 and a fifty-two week high of $75.80. 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 company has a market cap of $74.54 billion, a P/E ratio of 18.88, a P/E/G ratio of 4.29 and a beta of 0.49. The business has a fifty day simple moving average of $68.76 and a 200 day simple moving average of $68.93.

Southern (NYSE:SO) last issued its earnings results on Thursday, February 15th. The utilities provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Southern had a net margin of 15.79% and a return on equity of 11.40%. The firm had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last year, the business posted $0.26 earnings per share. The company’s quarterly revenue was down 14.2% on a year-over-year basis. On average, equities research analysts predict that The Southern Company will post 4 earnings per share for the current year.

Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.11%. Southern’s dividend payout ratio (DPR) is presently 77.14%.

Analysts Set New Price Targets

SO has been the subject of several recent research reports. Barclays upped their target price on shares of Southern from $65.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday. BMO Capital Markets restated an “outperform” rating and issued a $76.00 price objective (up previously from $72.00) on shares of Southern in a research report on Monday, April 1st. UBS Group cut shares of Southern from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $78.00 to $76.00 in a research report on Thursday, April 4th. Mizuho upped their price objective on shares of Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company lowered their price objective 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 research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.07.

Insider Transactions at Southern

In related news, insider David P. Poroch sold 10,099 shares of the business’s stock in a transaction 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 owns 28,691 shares in the company, valued at $2,007,222.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Southern news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction 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 directly owns 126,528 shares of the company’s stock, valued at $8,720,309.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David P. Poroch sold 10,099 shares of Southern stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $69.96, for a total transaction of $706,526.04. Following the completion of the sale, the insider now directly owns 28,691 shares of the company’s stock, valued at $2,007,222.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,998 shares of company stock worth $1,446,113. Company insiders own 0.37% of the company’s stock.

Southern Company Profile

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.