The Southern Company (NYSE:SO) Position Boosted by IVC Wealth Advisors LLC


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IVC Wealth Advisors LLC raised its holdings in shares of The Southern Company (NYSE:SO) by 5.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,367 shares of the utilities provider’s stock after acquiring an additional 325 shares during the quarter. IVC Wealth Advisors LLC’s holdings in The Southern were worth $396,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wealth Alliance lifted its holdings in shares of The Southern by 8.4% during the 3rd quarter. Wealth Alliance now owns 11,677 shares of the utilities provider’s stock valued at $633,000 after buying an additional 907 shares during the last quarter. IHT Wealth Management LLC lifted its holdings in The Southern by 45.9% in the 3rd quarter. IHT Wealth Management LLC now owns 16,037 shares of the utilities provider’s stock worth $870,000 after purchasing an additional 5,048 shares during the last quarter. Chiron Capital Management LLC acquired a new stake in The Southern in the 3rd quarter worth approximately $111,000. Jeppson Wealth Management LLC acquired a new stake in The Southern in the 3rd quarter worth approximately $149,000. Finally, Paces Ferry Wealth Advisors LLC acquired a new stake in The Southern in the 3rd quarter worth approximately $455,000. 57.62% of the stock is currently owned by institutional investors.

SO opened at $65.73 on Thursday. The stock has a market cap of $69.65 billion, a PE ratio of 21.91, a P/E/G ratio of 3.56 and a beta of 0.39. The company has a current ratio of 0.90, a quick ratio of 0.73 and a debt-to-equity ratio of 1.40. The Southern Company has a 1 year low of $50.40 and a 1 year high of $66.40. The stock’s 50 day simple moving average is $61.42 and its 200-day simple moving average is $60.40.

The Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, February 17th. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The Southern had a return on equity of 10.08% and a net margin of 15.80%. The business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the business posted $0.27 earnings per share. Equities analysts forecast that The Southern Company will post 3.19 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 7th. Shareholders of record on Monday, May 17th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.02%. This is a boost from The Southern’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Friday, May 14th. The Southern’s dividend payout ratio is 82.32%.

Several research firms recently weighed in on SO. Morgan Stanley boosted their target price on The Southern from $57.00 to $62.00 and gave the stock an “underweight” rating in a report on Tuesday. Wells Fargo & Company boosted their target price on The Southern from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, March 31st. Zacks Investment Research upgraded The Southern from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Thursday, January 14th. KeyCorp upped their price target on The Southern from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Evercore ISI lowered The Southern from an “in-line” rating to an “underperform” rating and set a $61.00 price target for the company. in a report on Thursday, January 21st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The Southern has a consensus rating of “Hold” and an average price target of $65.57.

In other The Southern news, insider Ann P. Daiss sold 5,549 shares of the company’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $62.75, for a total value of $348,199.75. Following the sale, the insider now directly owns 18,666 shares in the company, valued at $1,171,291.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Y. Kerr II sold 25,000 shares of the company’s stock in a transaction on Tuesday, April 20th. The shares were sold at an average price of $66.16, for a total value of $1,654,000.00. Following the completion of the sale, the executive vice president now owns 126,918 shares in the company, valued at $8,396,894.88. The disclosure for this sale can be found here. Insiders sold 38,049 shares of company stock worth $2,460,650 over the last quarter. Company insiders own 0.39% of the company’s stock.

About The Southern

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 and battery energy storage 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, 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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