Hyman Charles D Raises Holdings in The Southern Company (NYSE:SO)

Hyman Charles D increased its position in shares of The Southern Company (NYSE:SO) by 1.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 439,119 shares of the utilities provider’s stock after purchasing an additional 7,911 shares during the quarter. The Southern makes up approximately 2.0% of Hyman Charles D’s investment portfolio, making the stock its 14th largest position. Hyman Charles D’s holdings in The Southern were worth $27,296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JustInvest LLC grew its holdings in The Southern by 15.3% in the 4th quarter. JustInvest LLC now owns 4,539 shares of the utilities provider’s stock valued at $279,000 after buying an additional 604 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in The Southern by 8.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 51,518 shares of the utilities provider’s stock valued at $3,165,000 after buying an additional 4,194 shares in the last quarter. Insight Folios Inc grew its holdings in The Southern by 5.8% in the 4th quarter. Insight Folios Inc now owns 60,623 shares of the utilities provider’s stock valued at $3,724,000 after buying an additional 3,342 shares in the last quarter. Signet Financial Management LLC grew its holdings in The Southern by 3.4% in the 4th quarter. Signet Financial Management LLC now owns 5,767 shares of the utilities provider’s stock valued at $354,000 after buying an additional 191 shares in the last quarter. Finally, Rockland Trust Co. grew its holdings in The Southern by 11.5% in the 1st quarter. Rockland Trust Co. now owns 134,621 shares of the utilities provider’s stock valued at $8,368,000 after buying an additional 13,854 shares in the last quarter. Hedge funds and other institutional investors own 57.62% of the company’s stock.

In other news, CEO Stephen E. Kuczynski sold 2,500 shares of the stock in a transaction dated Wednesday, March 10th. The stock was sold at an average price of $59.41, for a total value of $148,525.00. Following the transaction, the chief executive officer now owns 99,151 shares in the company, valued at approximately $5,890,560.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Y. Kerr II sold 25,000 shares of the stock in a transaction dated Tuesday, April 20th. The shares were sold at an average price of $66.16, for a total value of $1,654,000.00. Following the completion of the transaction, the executive vice president now owns 126,918 shares in the company, valued at approximately $8,396,894.88. The disclosure for this sale can be found here. Insiders sold a total of 38,049 shares of company stock worth $2,460,650 in the last ninety days. 0.39% of the stock is owned by corporate insiders.

SO has been the subject of several analyst reports. KeyCorp upped their target price on The Southern from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, April 27th. Wells Fargo & Company upped their price target on The Southern from $71.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, April 26th. Mizuho upped their price target on The Southern from $59.00 to $61.00 and gave the company an “underperform” rating in a research note on Monday. Bank of America raised The Southern from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Tuesday, January 19th. Finally, Zacks Investment Research raised The Southern from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Thursday, January 14th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $66.08.

SO traded up $0.14 during mid-day trading on Tuesday, hitting $66.19. 138,619 shares of the stock were exchanged, compared to its average volume of 3,998,392. The firm’s fifty day moving average is $62.99 and its two-hundred day moving average is $60.83. The Southern Company has a 1-year low of $50.40 and a 1-year high of $66.70. The company has a current ratio of 0.90, a quick ratio of 0.73 and a debt-to-equity ratio of 1.40. The company has a market cap of $70.14 billion, a PE ratio of 22.02, a PEG ratio of 3.56 and a beta of 0.39.

The Southern (NYSE:SO) last posted its quarterly earnings results on Thursday, April 29th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.13. The Southern had a return on equity of 10.08% and a net margin of 15.80%. As a group, research analysts anticipate that The Southern Company will post 3.19 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 7th. Shareholders of record on Monday, May 17th will be given a $0.66 dividend. The ex-dividend date of this dividend is Friday, May 14th. This represents a $2.64 dividend on an annualized basis and a yield of 3.99%. This is a positive change from The Southern’s previous quarterly dividend of $0.64. The Southern’s dividend payout ratio (DPR) is currently 82.32%.

The 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 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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