Covington Capital Management Continues to Hold Position in Southern Company (The) (SO)

Covington Capital Management maintained its stake in shares of Southern Company (The) (NYSE:SO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,900 shares of the utilities provider’s stock at the end of the second quarter. Covington Capital Management’s holdings in Southern Company (The) were worth $282,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Bartlett & Co. LLC boosted its position in shares of Southern Company (The) by 0.3% during the second quarter. Bartlett & Co. LLC now owns 4,813 shares of the utilities provider’s stock valued at $230,000 after buying an additional 14 shares during the last quarter. AlphaMark Advisors LLC boosted its position in Southern Company (The) by 0.6% in the second quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 14 shares during the last quarter. South Texas Money Management Ltd. boosted its position in Southern Company (The) by 0.3% in the second quarter. South Texas Money Management Ltd. now owns 7,084 shares of the utilities provider’s stock worth $339,000 after purchasing an additional 19 shares during the last quarter. WMS Partners LLC boosted its position in Southern Company (The) by 0.6% in the second quarter. WMS Partners LLC now owns 4,387 shares of the utilities provider’s stock worth $210,000 after purchasing an additional 25 shares during the last quarter. Finally, Regal Investment Advisors LLC boosted its position in Southern Company (The) by 0.4% in the first quarter. Regal Investment Advisors LLC now owns 7,990 shares of the utilities provider’s stock worth $398,000 after purchasing an additional 29 shares during the last quarter. 52.88% of the stock is currently owned by institutional investors.

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In other Southern Company (The) news, VP James Y. Kerr II sold 25,000 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $52.16, for a total value of $1,304,000.00. Following the transaction, the vice president now directly owns 26,000 shares in the company, valued at approximately $1,356,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William P. Bowers sold 85,151 shares of the company’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total value of $4,257,550.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,813 shares of company stock worth $11,029,988. 1.00% of the stock is currently owned by corporate insiders.

Shares of Southern Company (SO) opened at $51.94 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73. Southern Company has a one year low of $46.20 and a one year high of $53.51. The stock has a market capitalization of $52,108.37, a price-to-earnings ratio of 18.88, a P/E/G ratio of 4.69 and a beta of 0.15.

Southern Company (The) (NYSE:SO) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Southern Company (The) had a return on equity of 10.81% and a net margin of 2.59%. The company had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same period in the previous year, the company posted $1.27 EPS. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. research analysts anticipate that Southern Company will post 2.95 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Monday, November 20th will be paid a dividend of $0.58 per share. The ex-dividend date is Friday, November 17th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.47%. Southern Company (The)’s payout ratio is 414.29%.

Several research analysts have weighed in on the company. Zacks Investment Research raised Southern Company (The) from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Bank of America Corporation reissued an “underperform” rating and issued a $51.00 price objective on shares of Southern Company (The) in a research report on Tuesday, October 24th. SunTrust Banks, Inc. reissued a “hold” rating and issued a $52.00 price objective on shares of Southern Company (The) in a research report on Friday, October 20th. Citigroup Inc. reissued a “sell” rating and issued a $44.00 price objective (up previously from $43.00) on shares of Southern Company (The) in a research report on Tuesday, October 3rd. Finally, Royal Bank Of Canada raised Southern Company (The) from a “sector perform” rating to an “outperform” rating and set a $53.00 price objective on the stock in a research report on Friday, September 29th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.72.

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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