The Southern Company (NYSE:SO) Shares Sold by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. cut its stake in shares of The Southern Company (NYSE:SO) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,921 shares of the utilities provider’s stock after selling 341 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Southern were worth $627,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Lindbrook Capital LLC increased its holdings in Southern by 48.7% in the first quarter. Lindbrook Capital LLC now owns 3,196 shares of the utilities provider’s stock valued at $222,000 after buying an additional 1,047 shares in the last quarter. Berkeley Capital Partners LLC grew its stake in Southern by 3.5% during the first quarter. Berkeley Capital Partners LLC now owns 14,463 shares of the utilities provider’s stock worth $1,006,000 after buying an additional 485 shares during the period. Householder Group Estate & Retirement Specialist LLC purchased a new position in Southern in the 1st quarter worth approximately $76,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in Southern by 1,073.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 880 shares of the utilities provider’s stock valued at $61,000 after buying an additional 805 shares during the last quarter. Finally, CI Investments Inc. grew its stake in shares of Southern by 110.4% during the fourth quarter. CI Investments Inc. now owns 2,973 shares of the utilities provider’s stock valued at $212,000 after acquiring an additional 1,560 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SO shares. Royal Bank of Canada lifted their target price on Southern from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 6th. Barclays began coverage on shares of Southern in a report on Wednesday, August 23rd. They set an “equal weight” rating and a $68.00 price target for the company. Bank of America upgraded Southern from an “underperform” rating to a “neutral” rating and raised their target price for the company from $67.00 to $68.00 in a research report on Wednesday, September 13th. Wells Fargo & Company lowered their target price on Southern from $75.00 to $74.00 in a research report on Friday, August 4th. Finally, The Goldman Sachs Group raised shares of Southern from a “buy” rating to a “conviction-buy” rating in a research note on Monday, July 3rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.13.

Insider Activity at Southern

In related news, EVP Christopher Cummiskey sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $68.30, for a total transaction of $341,500.00. Following the transaction, the executive vice president now owns 22,512 shares in the company, valued at approximately $1,537,569.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Martin Bernard Davis sold 1,490 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $67.05, for a total value of $99,904.50. Following the completion of the transaction, the executive vice president now owns 72,756 shares in the company, valued at $4,878,289.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher Cummiskey sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $68.30, for a total transaction of $341,500.00. Following the completion of the transaction, the executive vice president now owns 22,512 shares of the company’s stock, valued at approximately $1,537,569.60. The disclosure for this sale can be found here. Insiders have sold a total of 41,490 shares of company stock valued at $2,934,355 in the last 90 days. 0.28% of the stock is owned by corporate insiders.

Southern Stock Up 0.0 %

NYSE:SO traded up $0.03 during mid-day trading on Monday, reaching $71.12. The stock had a trading volume of 1,280,890 shares, compared to its average volume of 4,055,464. The business’s 50 day moving average is $69.42 and its 200 day moving average is $70.10. The Southern Company has a fifty-two week low of $58.85 and a fifty-two week high of $78.34. The stock has a market cap of $77.56 billion, a P/E ratio of 25.12, a PEG ratio of 4.92 and a beta of 0.52. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.83 and a quick ratio of 0.62.

Southern (NYSE:SO) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. Southern had a net margin of 11.17% and a return on equity of 9.86%. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same period last year, the business posted $1.07 EPS. Southern’s revenue was down 20.2% compared to the same quarter last year. As a group, sell-side analysts predict that The Southern Company will post 3.6 earnings per share for the current year.

Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Friday, August 18th. Southern’s dividend payout ratio is 98.94%.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through three segments: Gas Distribution Operations, Gas Pipeline Investments, and Gas Marketing Services. 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.