Capital Investment Advisors LLC increased its position in The Southern Company (NYSE:SO – Get Rating) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 589,848 shares of the utilities provider’s stock after purchasing an additional 12,574 shares during the quarter. Southern makes up about 1.3% of Capital Investment Advisors LLC’s investment portfolio, making the stock its 16th largest holding. Capital Investment Advisors LLC owned about 0.06% of Southern worth $42,770,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisor Partners LLC increased its stake in Southern by 0.4% during the fourth quarter. Advisor Partners LLC now owns 38,175 shares of the utilities provider’s stock worth $2,619,000 after acquiring an additional 146 shares during the last quarter. Clarius Group LLC grew its stake in shares of Southern by 1.5% during the fourth quarter. Clarius Group LLC now owns 10,612 shares of the utilities provider’s stock valued at $728,000 after buying an additional 152 shares during the last quarter. AdvisorNet Financial Inc grew its stake in shares of Southern by 1.2% during the fourth quarter. AdvisorNet Financial Inc now owns 13,082 shares of the utilities provider’s stock valued at $897,000 after buying an additional 157 shares during the last quarter. Gleason Group Inc. grew its stake in shares of Southern by 1.1% during the fourth quarter. Gleason Group Inc. now owns 15,034 shares of the utilities provider’s stock valued at $1,031,000 after buying an additional 158 shares during the last quarter. Finally, Red Door Wealth Management LLC grew its stake in shares of Southern by 0.9% during the fourth quarter. Red Door Wealth Management LLC now owns 17,778 shares of the utilities provider’s stock valued at $1,219,000 after buying an additional 162 shares during the last quarter. Institutional investors own 60.58% of the company’s stock.
In other news, EVP Bryan D. Anderson sold 26,917 shares of the stock in a transaction on Friday, April 8th. The stock was sold at an average price of $75.96, for a total transaction of $2,044,615.32. Following the completion of the sale, the executive vice president now owns 30,660 shares in the company, valued at approximately $2,328,933.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Stephen E. Kuczynski sold 14,500 shares of the stock in a transaction on Friday, June 10th. The shares were sold at an average price of $72.08, for a total value of $1,045,160.00. Following the sale, the chief executive officer now owns 115,284 shares of the company’s stock, valued at approximately $8,309,670.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 307,831 shares of company stock valued at $22,373,794. 0.37% of the stock is owned by company insiders.
Southern (NYSE:SO – Get Rating) last posted its earnings results on Thursday, April 28th. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The company had revenue of $6.60 billion during the quarter, compared to analyst estimates of $5.93 billion. Southern had a return on equity of 11.35% and a net margin of 10.09%. Southern’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. Equities analysts expect that The Southern Company will post 3.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 6th. Shareholders of record on Monday, May 16th were issued a dividend of $0.68 per share. The ex-dividend date was Friday, May 13th. This represents a $2.72 dividend on an annualized basis and a yield of 4.02%. This is a positive change from Southern’s previous quarterly dividend of $0.66. Southern’s dividend payout ratio is currently 125.93%.
A number of research analysts have recently commented on the company. StockNews.com assumed coverage on Southern in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Mizuho upped their target price on Southern from $67.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, April 21st. Credit Suisse Group assumed coverage on Southern in a research note on Monday, April 25th. They set an “underperform” rating and a $77.00 target price on the stock. Morgan Stanley lowered their price target on Southern from $67.00 to $66.00 and set an “underweight” rating for the company in a report on Monday, May 23rd. Finally, BMO Capital Markets lowered their price target on Southern from $81.00 to $70.00 in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $72.88.
Southern Profile (Get Rating)
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. 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, wholesale gas services, and gas pipeline investments operations.
- Get a free copy of the StockNews.com research report on Southern (SO)
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