Venture Visionary Partners LLC increased its position in shares of The Southern Company (NYSE:SO) by 26.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,002 shares of the utilities provider’s stock after acquiring an additional 2,321 shares during the period. Venture Visionary Partners LLC’s holdings in The Southern were worth $683,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Alpha DNA Investment Management LLC acquired a new stake in shares of The Southern during the 4th quarter valued at $26,000. Retirement Group LLC purchased a new stake in shares of The Southern during the fourth quarter valued at $27,000. ShoreHaven Wealth Partners LLC acquired a new position in shares of The Southern in the 4th quarter valued at $29,000. Simon Quick Advisors LLC purchased a new position in The Southern in the 4th quarter worth about $31,000. Finally, Field & Main Bank increased its stake in The Southern by 66.7% in the 4th quarter. Field & Main Bank now owns 500 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 57.62% of the company’s stock.
SO stock opened at $66.05 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.73 and a current ratio of 0.90. The stock has a market cap of $69.99 billion, a P/E ratio of 22.02, a P/E/G ratio of 3.56 and a beta of 0.39. The firm has a 50 day simple moving average of $62.99 and a 200 day simple moving average of $60.83. The Southern Company has a 52 week low of $50.40 and a 52 week high of $66.70.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 7th. Shareholders of record on Monday, May 17th will be paid a $0.66 dividend. The ex-dividend date is Friday, May 14th. This is a boost from The Southern’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a yield of 4.00%. The Southern’s payout ratio is 82.32%.
In other The Southern news, EVP James Y. Kerr II sold 25,000 shares of The Southern stock in a transaction that occurred on Tuesday, April 20th. The shares were sold at an average price of $66.16, for a total value of $1,654,000.00. Following the completion of the sale, the executive vice president now directly owns 126,918 shares in the company, valued at $8,396,894.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen E. Kuczynski sold 2,500 shares of The Southern stock in a transaction that occurred on Friday, April 9th. The shares were sold at an average price of $62.97, for a total transaction of $157,425.00. Following the completion of the sale, the chief executive officer now owns 96,651 shares of the company’s stock, valued at $6,086,113.47. The disclosure for this sale can be found here. Insiders sold 38,049 shares of company stock valued at $2,460,650 over the last quarter. Corporate insiders own 0.39% of the company’s stock.
Several research firms have recently weighed in on SO. Credit Suisse Group lifted their target price on shares of The Southern from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday. Zacks Investment Research raised shares of The Southern from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Thursday, January 14th. Evercore ISI downgraded shares of The Southern from an “in-line” rating to an “underperform” rating and set a $61.00 target price on the stock. in a research report on Thursday, January 21st. Bank of America raised shares of The Southern from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday, January 19th. Finally, Wells Fargo & Company lifted their target price on shares of The Southern from $71.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, April 26th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $66.08.
About The Southern
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 and battery energy storage 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.
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