The Southern Company (NYSE:SO) Position Raised by FAS Wealth Partners Inc.

FAS Wealth Partners Inc. raised its stake in The Southern Company (NYSE:SOFree Report) by 682.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 24,362 shares of the utilities provider’s stock after buying an additional 21,250 shares during the quarter. FAS Wealth Partners Inc.’s holdings in Southern were worth $1,708,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Welch Group LLC raised its stake in shares of Southern by 1.1% during the fourth quarter. Welch Group LLC now owns 777,822 shares of the utilities provider’s stock valued at $54,541,000 after purchasing an additional 8,185 shares in the last quarter. Insight Inv LLC raised its stake in shares of Southern by 1.4% during the fourth quarter. Insight Inv LLC now owns 10,530 shares of the utilities provider’s stock valued at $738,000 after purchasing an additional 150 shares in the last quarter. Princeton Global Asset Management LLC raised its stake in shares of Southern by 69.8% during the fourth quarter. Princeton Global Asset Management LLC now owns 2,823 shares of the utilities provider’s stock valued at $198,000 after purchasing an additional 1,160 shares in the last quarter. Drive Wealth Management LLC raised its stake in shares of Southern by 12.4% during the fourth quarter. Drive Wealth Management LLC now owns 3,662 shares of the utilities provider’s stock valued at $257,000 after purchasing an additional 405 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its stake in shares of Southern by 26.5% during the fourth quarter. First Citizens Bank & Trust Co. now owns 55,028 shares of the utilities provider’s stock valued at $3,859,000 after purchasing an additional 11,529 shares in the last quarter. 64.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SO shares. Mizuho lifted their price objective on shares of Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets restated an “outperform” rating and set a $76.00 price objective (up from $72.00) on shares of Southern in a research note on Monday. Citigroup began coverage on shares of Southern in a research report on Friday, December 8th. They issued a “buy” rating and a $82.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 price target on shares of Southern in a research report on Wednesday, February 21st. Finally, Barclays dropped their price target on shares of Southern from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.00.

Check Out Our Latest Stock Report on Southern

Southern Trading Up 0.4 %

Shares of SO opened at $71.35 on Wednesday. The business’s 50-day moving average price is $68.59 and its 200 day moving average price is $68.89. The stock has a market capitalization of $77.84 billion, a P/E ratio of 19.66, a P/E/G ratio of 4.44 and a beta of 0.49. The Southern Company has a 1-year low of $61.56 and a 1-year high of $75.80. The company has a current ratio of 0.77, a quick ratio of 0.56 and a debt-to-equity ratio of 1.62.

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

Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, February 16th. This represents a $2.80 annualized dividend and a yield of 3.92%. Southern’s dividend payout ratio (DPR) is presently 77.14%.

Insider Buying and Selling at Southern

In other Southern 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 owns 101,284 shares of the company’s stock, valued at approximately $7,291,435.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, 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 transaction of $60,286.94. Following the completion of the sale, the executive vice president now directly owns 22,502 shares in the company, valued at approximately $1,508,984.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $71.99, for a total value of $359,950.00. Following the sale, the chief executive officer now owns 101,284 shares of the company’s stock, valued at $7,291,435.16. 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 in the last 90 days. 0.37% of the stock is currently owned by corporate insiders.

Southern 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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