Cetera Advisors LLC raised its stake in The Southern Company (NYSE:SO – Free Report) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,338 shares of the utilities provider’s stock after purchasing an additional 2,052 shares during the period. Cetera Advisors LLC’s holdings in Southern were worth $7,892,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. MRP Capital Investments LLC purchased a new position in shares of Southern during the first quarter worth approximately $30,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Southern during the second quarter worth approximately $34,000. TD Capital Management LLC grew its position in shares of Southern by 122.0% during the first quarter. TD Capital Management LLC now owns 546 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 300 shares during the last quarter. Moser Wealth Advisors LLC purchased a new position in shares of Southern during the second quarter worth approximately $38,000. Finally, Cascade Investment Advisors Inc. purchased a new position in shares of Southern during the first quarter worth approximately $42,000. 62.85% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on SO. Bank of America raised Southern from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $67.00 to $68.00 in a report on Wednesday, September 13th. Morgan Stanley decreased their price target on Southern from $69.00 to $66.00 and set an “equal weight” rating for the company in a report on Wednesday, October 25th. Scotiabank downgraded Southern from a “sector outperform” rating to a “sector perform” rating and set a $78.00 price target for the company. in a report on Friday, November 3rd. StockNews.com raised Southern from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Finally, LADENBURG THALM/SH SH initiated coverage on Southern in a report on Wednesday, August 9th. They issued a “buy” rating and a $72.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.00.
Southern Trading Up 1.2 %
Shares of SO stock opened at $69.62 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.84 and a debt-to-equity ratio of 1.59. The stock has a market cap of $75.93 billion, a P/E ratio of 24.83, a P/E/G ratio of 4.66 and a beta of 0.55. The business has a fifty day simple moving average of $67.54 and a 200-day simple moving average of $69.45. The Southern Company has a fifty-two week low of $58.85 and a fifty-two week high of $75.80.
Southern Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Friday, November 17th. Southern’s dividend payout ratio (DPR) is 101.08%.
Insider Buying and Selling at Southern
In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $67.83, for a total value of $339,150.00. Following the transaction, the chief executive officer now owns 121,284 shares in the company, valued at $8,226,693.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Martin Bernard Davis sold 1,490 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $67.05, for a total value of $99,904.50. Following the completion of the sale, the executive vice president now owns 72,756 shares in the company, valued at $4,878,289.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $67.83, for a total value of $339,150.00. Following the transaction, the chief executive officer now directly owns 121,284 shares in the company, valued at $8,226,693.72. The disclosure for this sale can be found here. Insiders sold 21,490 shares of company stock worth $1,452,505 in the last 90 days. 0.37% of the stock is owned by company insiders.
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.
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