Wakefield Asset Management LLLP Takes Position in Southern Co (SO)

Wakefield Asset Management LLLP bought a new stake in Southern Co (NYSE:SO) during the 1st quarter, HoldingsChannel.com reports. The firm bought 6,596 shares of the utilities provider’s stock, valued at approximately $341,000.

Several other hedge funds also recently made changes to their positions in the business. Tompkins Financial Corp purchased a new stake in shares of Southern in the first quarter valued at approximately $28,000. Lee Financial Co boosted its stake in shares of Southern by 144.4% in the first quarter. Lee Financial Co now owns 550 shares of the utilities provider’s stock valued at $28,000 after buying an additional 325 shares in the last quarter. Sontag Advisory LLC purchased a new stake in shares of Southern in the fourth quarter valued at approximately $25,000. Vigilant Capital Management LLC purchased a new stake in shares of Southern in the fourth quarter valued at approximately $30,000. Finally, Gemmer Asset Management LLC boosted its stake in shares of Southern by 58.0% in the first quarter. Gemmer Asset Management LLC now owns 681 shares of the utilities provider’s stock valued at $35,000 after buying an additional 250 shares in the last quarter. Institutional investors own 56.59% of the company’s stock.

In other news, CEO William P. Bowers sold 233,477 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $51.29, for a total value of $11,975,035.33. Following the completion of the transaction, the chief executive officer now directly owns 354,212 shares of the company’s stock, valued at $18,167,533.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Henry A. Clark III purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was bought at an average cost of $50.19 per share, with a total value of $100,380.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $100,380. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 267,249 shares of company stock valued at $13,714,078. 0.73% of the stock is currently owned by insiders.



A number of analysts recently weighed in on SO shares. Zacks Investment Research upgraded Southern from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Tuesday, January 15th. Citigroup upgraded Southern from a “sell” rating to a “neutral” rating and lifted their price target for the company from $45.00 to $50.00 in a research note on Thursday, January 24th. restated a “sell” rating on shares of Southern in a research note on Wednesday, February 13th. restated a “sell” rating on shares of Southern in a research note on Wednesday, February 13th. Finally, SunTrust Banks restated a “hold” rating and issued a $52.00 price target on shares of Southern in a research note on Monday, February 25th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $48.15.

Shares of SO stock opened at $53.63 on Wednesday. The firm has a market cap of $56.28 billion, a P/E ratio of 17.47, a PEG ratio of 3.97 and a beta of 0.21. Southern Co has a 1 year low of $42.42 and a 1 year high of $54.14. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 1.37.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Southern had a return on equity of 10.37% and a net margin of 15.03%. Southern’s revenue was down 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. As a group, research analysts predict that Southern Co will post 3.03 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Southern’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.62%. Southern’s payout ratio is currently 78.18%.

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Southern Company 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 Southern (NYSE:SO)

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