The Southern Company (NYSE:SO) Shares Sold by Colonial River Wealth Management LLC

Colonial River Wealth Management LLC lowered its stake in shares of The Southern Company (NYSE:SOFree Report) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,426 shares of the utilities provider’s stock after selling 1,602 shares during the quarter. Colonial River Wealth Management LLC’s holdings in Southern were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. VisionPoint Advisory Group LLC acquired a new stake in shares of Southern during the second quarter worth approximately $27,000. Intrepid Capital Management Inc. bought a new position in Southern during the second quarter worth $30,000. BKM Wealth Management LLC bought a new position in Southern during the fourth quarter worth $34,000. Sanctuary Wealth Management L.L.C. bought a new position in Southern during the fourth quarter worth $34,000. Finally, VitalStone Financial LLC bought a new position in Southern during the second quarter worth $35,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SO. Mizuho raised their price objective on Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays reduced their price objective on Southern from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 target price on shares of Southern in a research note on Wednesday, February 21st. Wells Fargo & Company cut their target price on Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Friday, February 16th. Finally, Citigroup began coverage on Southern in a research note on Friday, December 8th. They issued a “buy” rating and a $82.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Southern has a consensus rating of “Hold” and an average target price of $74.00.

View Our Latest Research Report on SO

Insider Buying and Selling

In related news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $71.99, for a total transaction of $359,950.00. Following the transaction, the chief executive officer now directly owns 101,284 shares of the company’s stock, valued at $7,291,435.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $71.99, for a total value of $359,950.00. Following the transaction, the chief executive officer now owns 101,284 shares of the company’s stock, valued at approximately $7,291,435.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher Cummiskey sold 899 shares of Southern stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total value of $60,286.94. Following the completion of the transaction, the executive vice president now directly owns 22,502 shares in the company, valued at approximately $1,508,984.12. The disclosure for this sale can be found here. Insiders have sold a total of 25,998 shares of company stock valued at $1,806,063 over the last three months. Company insiders own 0.37% of the company’s stock.

Southern Stock Performance

Shares of NYSE SO traded up $0.25 during midday trading on Tuesday, reaching $71.35. 3,829,476 shares of the company traded hands, compared to its average volume of 4,572,321. The Southern Company has a 52 week low of $61.56 and a 52 week high of $75.80. The stock has a 50-day moving average price of $68.59 and a 200 day moving average price of $68.89. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.77 and a quick ratio of 0.56. The company has a market cap of $77.84 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 4.48 and a beta of 0.49.

Southern (NYSE:SOGet Free Report) last issued its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Southern had a net margin of 15.79% and a return on equity of 11.40%. The business had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the business earned $0.26 earnings per share. The company’s revenue was down 14.2% on a year-over-year basis. Sell-side analysts anticipate that The Southern Company will post 4 earnings per share for the current fiscal year.

Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend was Friday, February 16th. Southern’s payout ratio is currently 77.14%.

Southern Company Profile

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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, gas distribution operations, and gas pipeline investments operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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