Shulman DeMeo Asset Management LLC Invests $252,000 in The Southern Company (NYSE:SO)


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Shulman DeMeo Asset Management LLC bought a new position in shares of The Southern Company (NYSE:SO) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 4,109 shares of the utilities provider’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SO. FMR LLC increased its stake in shares of The Southern by 11.0% during the second quarter. FMR LLC now owns 14,378,464 shares of the utilities provider’s stock worth $745,524,000 after purchasing an additional 1,420,920 shares during the period. Massachusetts Financial Services Co. MA grew its position in The Southern by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,832,935 shares of the utilities provider’s stock worth $1,563,321,000 after buying an additional 822,854 shares in the last quarter. Energy Income Partners LLC grew its position in The Southern by 150.8% during the third quarter. Energy Income Partners LLC now owns 1,113,842 shares of the utilities provider’s stock worth $60,392,000 after buying an additional 669,801 shares in the last quarter. Two Sigma Advisers LP grew its position in The Southern by 81.9% during the second quarter. Two Sigma Advisers LP now owns 1,259,100 shares of the utilities provider’s stock worth $65,284,000 after buying an additional 567,000 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in The Southern by 245.8% during the third quarter. Squarepoint Ops LLC now owns 662,757 shares of the utilities provider’s stock worth $35,935,000 after buying an additional 471,120 shares in the last quarter. Institutional investors own 57.29% of the company’s stock.

In related news, CEO Stephen E. Kuczynski sold 2,500 shares of the firm’s stock in a transaction on Monday, January 11th. The stock was sold at an average price of $61.19, for a total transaction of $152,975.00. Following the completion of the transaction, the chief executive officer now directly owns 66,994 shares of the company’s stock, valued at approximately $4,099,362.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kimberly S. Greene sold 30,000 shares of the firm’s stock in a transaction on Thursday, December 3rd. The stock was sold at an average price of $61.96, for a total value of $1,858,800.00. Following the transaction, the chief executive officer now directly owns 50,291 shares of the company’s stock, valued at $3,116,030.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,000 shares of company stock worth $2,164,100. 0.39% of the stock is currently owned by company insiders.

NYSE SO opened at $59.71 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.46. The Southern Company has a twelve month low of $41.96 and a twelve month high of $71.10. The company has a market cap of $63.06 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 4.58 and a beta of 0.38. The business’s fifty day moving average is $60.65 and its 200 day moving average is $56.90.

The Southern (NYSE:SO) last released its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.02). The Southern had a net margin of 15.83% and a return on equity of 10.47%. The firm had revenue of $5.62 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same period last year, the business earned $1.34 EPS. The company’s revenue was down 6.3% compared to the same quarter last year. On average, research analysts anticipate that The Southern Company will post 3.16 earnings per share for the current fiscal year.

A number of equities research analysts recently issued reports on the company. KeyCorp reduced their price target on The Southern from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday. Mizuho increased their price target on The Southern from $48.00 to $53.00 in a research report on Wednesday, October 28th. BMO Capital Markets assumed coverage on The Southern in a research report on Tuesday, November 24th. They set a “market perform” rating and a $67.00 price target on the stock. Morgan Stanley reduced their price target on The Southern from $62.00 to $57.00 and set an “underweight” rating on the stock in a research report on Tuesday, December 15th. Finally, BidaskClub downgraded The Southern from a “hold” rating to a “sell” rating in a report on Friday, December 25th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The Southern has a consensus rating of “Hold” and an average target price of $64.60.

The Southern Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.

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

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