Standard Life Aberdeen plc Sells 24,137 Shares of Southern Co (NYSE:SO)

Standard Life Aberdeen plc decreased its position in shares of Southern Co (NYSE:SO) by 3.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 614,566 shares of the utilities provider’s stock after selling 24,137 shares during the quarter. Standard Life Aberdeen plc owned approximately 0.06% of Southern worth $39,148,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SO. State Street Corp lifted its holdings in shares of Southern by 5.4% in the fourth quarter. State Street Corp now owns 57,215,014 shares of the utilities provider’s stock worth $3,644,596,000 after buying an additional 2,944,110 shares in the last quarter. Zimmer Partners LP boosted its holdings in shares of Southern by 126.5% during the 3rd quarter. Zimmer Partners LP now owns 2,704,340 shares of the utilities provider’s stock valued at $167,047,000 after purchasing an additional 1,510,340 shares during the last quarter. Pictet Asset Management Ltd. grew its position in shares of Southern by 32.7% during the third quarter. Pictet Asset Management Ltd. now owns 4,409,059 shares of the utilities provider’s stock valued at $272,348,000 after purchasing an additional 1,086,610 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Southern by 3.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 26,003,266 shares of the utilities provider’s stock valued at $1,656,408,000 after purchasing an additional 898,413 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Southern in the third quarter worth about $53,915,000. Institutional investors own 59.95% of the company’s stock.

In other Southern news, CEO Stephen E. Kuczynski sold 2,000 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $62.53, for a total value of $125,060.00. Following the completion of the sale, the chief executive officer now directly owns 66,564 shares in the company, valued at approximately $4,162,246.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher C. Womack sold 9,843 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $67.99, for a total value of $669,225.57. Following the transaction, the executive vice president now directly owns 18,146 shares in the company, valued at approximately $1,233,746.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,827 shares of company stock worth $8,305,763. Corporate insiders own 0.88% of the company’s stock.

A number of equities analysts recently commented on the company. Royal Bank of Canada reissued a “buy” rating and set a $67.00 price target on shares of Southern in a research note on Sunday, January 19th. Barclays reduced their price target on shares of Southern from $68.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday. Citigroup upped their price target on shares of Southern from $61.00 to $73.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Wolfe Research upgraded shares of Southern from an “underperform” rating to a “market perform” rating in a research report on Thursday, March 12th. Finally, Evercore ISI reissued a “hold” rating and issued a $63.50 price objective on shares of Southern in a research note on Sunday, December 15th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $62.12.

SO traded up $5.00 during trading hours on Thursday, reaching $55.14. 8,647,266 shares of the company’s stock traded hands, compared to its average volume of 6,164,019. The firm has a 50-day moving average price of $62.51 and a 200 day moving average price of $62.74. The firm has a market capitalization of $51.70 billion, a PE ratio of 12.12, a PEG ratio of 3.86 and a beta of 0.38. The company has a quick ratio of 0.63, a current ratio of 0.78 and a debt-to-equity ratio of 1.37. Southern Co has a 52-week low of $41.96 and a 52-week high of $71.10.

Southern (NYSE:SO) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $5.27 billion. Southern had a return on equity of 10.38% and a net margin of 22.20%. The business’s revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. Equities analysts predict that Southern Co will post 3.17 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Tuesday, February 18th were paid a $0.62 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.50%. Southern’s dividend payout ratio is currently 79.74%.

About 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 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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