The Southern Company (NYSE:SO) CEO Sells $535,509.00 in Stock

The Southern Company (NYSE:SOGet Free Report) CEO Anthony L. Wilson sold 6,900 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $77.61, for a total value of $535,509.00. Following the sale, the chief executive officer now directly owns 85,309 shares of the company’s stock, valued at $6,620,831.49. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Southern Stock Performance

Shares of SO stock opened at $78.42 on Thursday. The company has a market cap of $85.74 billion, a P/E ratio of 20.26, a PEG ratio of 2.80 and a beta of 0.51. The firm has a fifty day moving average price of $78.23 and a 200 day moving average price of $72.67. The company has a current ratio of 0.92, a quick ratio of 0.65 and a debt-to-equity ratio of 1.67. The Southern Company has a 12 month low of $61.56 and a 12 month high of $80.84.

Southern (NYSE:SOGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.59 billion. Southern had a return on equity of 12.07% and a net margin of 16.74%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 EPS. Sell-side analysts predict that The Southern Company will post 4 earnings per share for the current fiscal year.

Southern Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Monday, May 20th were issued a $0.72 dividend. This is a boost from Southern’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, May 17th. This represents a $2.88 annualized dividend and a dividend yield of 3.67%. Southern’s dividend payout ratio is presently 74.42%.

Institutional Investors Weigh In On Southern

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Southern in the 4th quarter valued at about $631,068,000. Capital International Investors boosted its holdings in shares of Southern by 45.9% in the first quarter. Capital International Investors now owns 23,994,733 shares of the utilities provider’s stock valued at $1,721,382,000 after acquiring an additional 7,550,570 shares during the period. Confluence Investment Management LLC acquired a new position in shares of Southern in the 1st quarter valued at $128,413,000. International Assets Investment Management LLC raised its position in Southern by 6,303.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,199,544 shares of the utilities provider’s stock valued at $84,112,000 after purchasing an additional 1,180,812 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Southern by 36.0% during the 4th quarter. Wellington Management Group LLP now owns 3,529,052 shares of the utilities provider’s stock worth $247,457,000 after purchasing an additional 934,447 shares during the period. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SO. Morgan Stanley reduced their price target on shares of Southern from $74.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. Argus raised their price target on Southern from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Wells Fargo & Company boosted their price objective on Southern from $72.00 to $77.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Bank of America raised their target price on Southern from $73.00 to $79.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Finally, Scotiabank reduced their price target on shares of Southern from $80.00 to $77.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.50.

Check Out Our Latest Report on SO

Southern Company Profile

(Get 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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Insider Buying and Selling by Quarter for Southern (NYSE:SO)

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