Burleson & Company LLC Acquires New Stake in The Southern Company (NYSE:SO)

Burleson & Company LLC bought a new position in The Southern Company (NYSE:SO) in the first quarter, Holdings Channel reports. The firm bought 2,213 shares of the utilities provider’s stock, valued at approximately $138,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mitchell Mcleod Pugh & Williams Inc. increased its stake in shares of The Southern by 0.5% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 41,355 shares of the utilities provider’s stock worth $2,571,000 after purchasing an additional 219 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in The Southern in the 1st quarter worth approximately $5,386,000. ING Groep NV raised its holdings in The Southern by 3.0% during the 1st quarter. ING Groep NV now owns 87,912 shares of the utilities provider’s stock valued at $5,465,000 after acquiring an additional 2,525 shares during the period. InterOcean Capital Group LLC boosted its holdings in shares of The Southern by 4.3% in the first quarter. InterOcean Capital Group LLC now owns 580,080 shares of the utilities provider’s stock worth $36,058,000 after acquiring an additional 23,667 shares during the period. Finally, Elo Mutual Pension Insurance Co grew its position in shares of The Southern by 1.5% in the first quarter. Elo Mutual Pension Insurance Co now owns 76,201 shares of the utilities provider’s stock valued at $4,737,000 after purchasing an additional 1,113 shares in the last quarter. 59.09% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on SO shares. Credit Suisse Group restated a “buy” rating on shares of The Southern in a research note on Wednesday, May 19th. Mizuho reduced their price objective on shares of The Southern from $61.00 to $59.00 and set an “underperform” rating for the company in a research note on Wednesday. Barclays upped their target price on shares of The Southern from $70.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, May 25th. KeyCorp upped their price target on shares of The Southern from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, April 21st. Finally, Morgan Stanley reduced their target price on The Southern from $62.00 to $61.00 and set an “underweight” rating for the company in a research report on Tuesday, May 18th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The Southern has an average rating of “Hold” and a consensus target price of $67.08.

SO opened at $63.88 on Friday. The Southern Company has a one year low of $50.40 and a one year high of $66.93. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.82 and a quick ratio of 0.64. The firm’s 50 day simple moving average is $64.45. The company has a market cap of $67.69 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 3.93 and a beta of 0.44.

The Southern (NYSE:SO) last posted its earnings results on Thursday, April 29th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The Southern had a return on equity of 11.28% and a net margin of 15.99%. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.44 billion. On average, analysts anticipate that The Southern Company will post 3.33 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 7th. Shareholders of record on Monday, May 17th were issued a $0.66 dividend. The ex-dividend date was Friday, May 14th. This is a positive change from The Southern’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a yield of 4.13%. The Southern’s dividend payout ratio is 81.23%.

In other The Southern news, insider Ann P. Daiss sold 5,549 shares of the firm’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $62.75, for a total transaction of $348,199.75. Following the completion of the transaction, the insider now owns 18,666 shares of the company’s stock, valued at $1,171,291.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen E. Kuczynski sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 1st. The stock was sold at an average price of $64.13, for a total transaction of $160,325.00. Following the completion of the sale, the chief executive officer now directly owns 91,651 shares in the company, valued at $5,877,578.63. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,474 shares of company stock valued at $2,778,346. Corporate insiders own 0.43% of the company’s stock.

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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Institutional Ownership by Quarter for The Southern (NYSE:SO)

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