Southern Company (The) (SO) Position Cut by Washington Trust Bank

Washington Trust Bank reduced its position in shares of Southern Company (The) (NYSE:SO) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,486 shares of the utilities provider’s stock after selling 497 shares during the period. Washington Trust Bank’s holdings in Southern Company (The) were worth $502,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Orrstown Financial Services Inc. increased its position in Southern Company (The) by 10.8% in the first quarter. Orrstown Financial Services Inc. now owns 2,050 shares of the utilities provider’s stock valued at $102,000 after buying an additional 200 shares during the last quarter. Symmetry Partners LLC purchased a new position in Southern Company (The) during the first quarter valued at $103,000. Feltz Wealth PLAN Inc. purchased a new position in Southern Company (The) during the first quarter valued at $108,000. Stuart Chaussee & Associates Inc. increased its position in Southern Company (The) by 358.8% in the first quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock valued at $111,000 after buying an additional 1,740 shares during the last quarter. Finally, IHT Wealth Management LLC increased its position in Southern Company (The) by 15.3% in the first quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock valued at $115,000 after buying an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 53.57% of the company’s stock.

Shares of Southern Company (SO) traded up 0.0297% during mid-day trading on Thursday, reaching $48.8645. The company had a trading volume of 1,371,915 shares. The firm has a 50 day moving average of $48.21 and a 200-day moving average of $49.47. Southern Company has a one year low of $46.20 and a one year high of $53.73. The stock has a market capitalization of $48.84 billion, a P/E ratio of 80.3692 and a beta of 0.12.

Southern Company (The) (NYSE:SO) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. Southern Company (The)’s revenue for the quarter was up 21.7% on a year-over-year basis. Analysts forecast that Southern Company will post $2.95 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 4.75%. The ex-dividend date is Thursday, August 17th. Southern Company (The)’s dividend payout ratio is presently 346.27%.

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Several research firms have recently weighed in on SO. BidaskClub downgraded Southern Company (The) from a “hold” rating to a “sell” rating in a research note on Thursday. J P Morgan Chase & Co began coverage on Southern Company (The) in a research note on Tuesday. They set an “overweight” rating and a $16.78 price target for the company. Credit Suisse Group upgraded Southern Company (The) from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 3rd. Deutsche Bank AG upgraded Southern Company (The) from a “hold” rating to a “buy” rating and increased their price target for the stock from $50.00 to $52.00 in a research note on Tuesday, August 1st. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $53.00 price target on shares of Southern Company (The) in a research note on Monday, July 31st. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $48.87.

In other Southern Company (The) news, CEO Mark Lantrip sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $51.50, for a total transaction of $1,287,500.00. Following the completion of the sale, the chief executive officer now owns 31,080 shares of the company’s stock, valued at $1,600,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ann P. Daiss sold 5,000 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $51.28, for a total value of $256,400.00. Following the sale, the insider now directly owns 7,394 shares of the company’s stock, valued at approximately $379,164.32. The disclosure for this sale can be found here. Insiders have sold 152,084 shares of company stock valued at $7,665,158 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

About Southern Company (The)

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

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Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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