The Southern Company (NYSE:SO) Shares Bought by Marietta Wealth Management LLC

Marietta Wealth Management LLC grew its stake in The Southern Company (NYSE:SO) by 28.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,763 shares of the utilities provider’s stock after purchasing an additional 1,946 shares during the period. Marietta Wealth Management LLC’s holdings in Southern were worth $614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Insigneo Advisory Services LLC raised its position in Southern by 3.1% in the third quarter. Insigneo Advisory Services LLC now owns 4,883 shares of the utilities provider’s stock valued at $316,000 after purchasing an additional 146 shares during the period. Good Life Advisors LLC boosted its position in shares of 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 acquiring an additional 149 shares in the last quarter. Insight Inv LLC raised its stake 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 acquiring an additional 150 shares in the last quarter. Patten & Patten Inc. TN grew its stake 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 during the last quarter. Finally, Willis Johnson & Associates Inc. raised its position in Southern by 3.6% in the 4th quarter. Willis Johnson & Associates Inc. now owns 4,365 shares of the utilities provider’s stock valued at $306,000 after purchasing an additional 151 shares during the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Down 0.5 %

Shares of NYSE SO traded down $0.36 during mid-day trading on Tuesday, reaching $68.03. The company had a trading volume of 1,436,918 shares, compared to its average volume of 4,568,936. The stock’s 50 day moving average is $68.78 and its 200-day moving average is $68.95. 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. The stock has a market capitalization of $74.47 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 4.29 and a beta of 0.49.

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

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, February 16th. Southern’s payout ratio is 77.14%.

Insider Activity at Southern

In other news, insider David P. Poroch sold 10,099 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $69.96, for a total transaction of $706,526.04. Following the completion of the transaction, the insider now directly owns 28,691 shares in the company, valued at $2,007,222.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider David P. Poroch sold 10,099 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $69.96, for a total transaction of $706,526.04. Following the transaction, the insider now directly owns 28,691 shares in the company, valued at $2,007,222.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $68.92, for a total value of $344,600.00. Following the sale, the chief executive officer now directly owns 126,528 shares in the company, valued at approximately $8,720,309.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,998 shares of company stock worth $1,446,113. 0.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Mizuho upped their price target on shares of Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company decreased their price target on Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Friday, February 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price target on shares of Southern in a research note on Wednesday, February 21st. BMO Capital Markets reissued an “outperform” rating and set a $76.00 target price (up previously from $72.00) on shares of Southern in a research report on Monday, April 1st. Finally, UBS Group cut Southern from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $78.00 to $76.00 in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Southern presently has a consensus rating of “Hold” and a consensus price target of $74.07.

Southern 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.