Day & Ennis LLC Has $1.63 Million Stake in Southern Co (NYSE:SO)

Day & Ennis LLC increased its stake in shares of Southern Co (NYSE:SO) by 5.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 29,565 shares of the utilities provider’s stock after acquiring an additional 1,646 shares during the period. Day & Ennis LLC’s holdings in Southern were worth $1,634,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thor Advisors LLC bought a new stake in Southern during the 1st quarter valued at approximately $26,000. Tompkins Financial Corp bought a new stake in Southern during the 1st quarter valued at approximately $28,000. Lee Financial Co boosted its stake in Southern by 144.4% during the 1st quarter. Lee Financial Co now owns 550 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 325 shares during the period. Atlantic Trust LLC bought a new stake in Southern during the 2nd quarter valued at approximately $28,000. Finally, Ellis Investment Partners LLC bought a new stake in Southern during the 1st quarter valued at approximately $29,000. 56.66% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Stephen E. Kuczynski sold 2,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $53.50, for a total value of $107,000.00. Following the completion of the transaction, the chief executive officer now directly owns 75,772 shares of the company’s stock, valued at approximately $4,053,802. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William P. Bowers sold 164,377 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $56.01, for a total value of $9,206,755.77. Following the completion of the transaction, the chief executive officer now directly owns 181,005 shares of the company’s stock, valued at $10,138,090.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 769,547 shares of company stock valued at $42,411,331. 0.88% of the stock is currently owned by insiders.



Several brokerages recently weighed in on SO. Morgan Stanley decreased their target price on Southern from $55.00 to $54.00 and set an “underweight” rating for the company in a research note on Friday. Mizuho raised their price objective on Southern from $48.50 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. Credit Suisse Group set a $51.00 price objective on Southern and gave the stock a “sell” rating in a research report on Monday, April 22nd. Zacks Investment Research downgraded Southern from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Barclays reiterated a “hold” rating and issued a $57.00 price objective on shares of Southern in a research report on Wednesday, June 19th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. Southern has an average rating of “Hold” and a consensus price target of $53.10.

Shares of SO stock traded down $0.28 during mid-day trading on Friday, reaching $57.35. The stock had a trading volume of 1,421,632 shares, compared to its average volume of 4,667,594. The firm’s 50 day simple moving average is $56.29 and its 200 day simple moving average is $53.22. The company has a quick ratio of 0.59, a current ratio of 0.76 and a debt-to-equity ratio of 1.33. Southern Co has a one year low of $42.50 and a one year high of $58.78. The firm has a market cap of $59.95 billion, a PE ratio of 18.68, a P/E/G ratio of 4.20 and a beta of 0.18.

Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.08. Southern had a return on equity of 10.04% and a net margin of 20.18%. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter last year, the company earned $0.80 EPS. The company’s quarterly revenue was down 9.4% on a year-over-year basis. Sell-side analysts forecast that Southern Co will post 3.03 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Monday, August 19th will be issued a $0.62 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.32%. Southern’s payout ratio is presently 80.78%.

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.

Recommended Story: The role of implied volatility with call option volume

Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Co (NYSE:SO).

Institutional Ownership by Quarter for Southern (NYSE:SO)

Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.