Greenleaf Trust Buys New Holdings in Southern Co (SO)

Greenleaf Trust bought a new position in Southern Co (NYSE:SO) during the 1st quarter, Holdings Channel reports. The fund bought 3,985 shares of the utilities provider’s stock, valued at approximately $206,000.

A number of other institutional investors have also added to or reduced their stakes in SO. Sontag Advisory LLC purchased a new stake in Southern during the fourth quarter valued at $25,000. Tompkins Financial Corp bought a new position in Southern during the first quarter valued at $28,000. Lee Financial Co increased its position in Southern by 144.4% during the first quarter. Lee Financial Co now owns 550 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 325 shares during the last quarter. Ellis Investment Partners LLC bought a new position in Southern during the first quarter valued at $29,000. Finally, Parkside Financial Bank & Trust increased its position in Southern by 38.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 798 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 220 shares during the last quarter. 56.69% of the stock is currently owned by institutional investors.

In related news, insider Ann P. Daiss sold 7,850 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $54.06, for a total value of $424,371.00. Following the completion of the sale, the insider now directly owns 17,862 shares of the company’s stock, valued at $965,619.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ann P. Daiss sold 3,786 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $54.42, for a total transaction of $206,034.12. Following the completion of the sale, the insider now directly owns 13,798 shares of the company’s stock, valued at $750,887.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 271,035 shares of company stock worth $13,920,112. Company insiders own 0.73% of the company’s stock.

A number of research firms have weighed in on SO. Zacks Investment Research cut shares of Southern from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. ValuEngine upgraded shares of Southern from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Evercore ISI upgraded shares of Southern from an “in-line” rating to an “outperform” rating in a research report on Friday, May 3rd. Credit Suisse Group set a $51.00 price objective on shares of Southern and gave the company a “sell” rating in a research report on Monday, April 22nd. Finally, SunTrust Banks reiterated a “hold” rating and set a $52.00 price objective on shares of Southern in a research report on Monday, February 25th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. Southern has a consensus rating of “Hold” and a consensus price target of $48.23.

NYSE SO opened at $54.35 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $56.54 billion, a PE ratio of 17.70, a P/E/G ratio of 3.99 and a beta of 0.21. Southern Co has a 12 month low of $42.50 and a 12 month high of $54.76.

Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.70 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.70. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Southern had a net margin of 15.03% and a return on equity of 10.37%. The business’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, equities research analysts anticipate that Southern Co will post 3.03 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Monday, May 20th will be issued a $0.62 dividend. The ex-dividend date is Friday, May 17th. This is a boost from Southern’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.56%. Southern’s dividend payout ratio is presently 80.78%.

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Southern 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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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