The Southern Company (NYSE:SO) Stock Position Raised by Shelton Capital Management

Shelton Capital Management raised its position in shares of The Southern Company (NYSE:SO) by 11.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,864 shares of the utilities provider’s stock after purchasing an additional 4,782 shares during the period. Shelton Capital Management’s holdings in Southern were worth $3,362,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Drive Wealth Management LLC raised its position in shares of Southern by 9.9% in the second quarter. Drive Wealth Management LLC now owns 3,171 shares of the utilities provider’s stock valued at $223,000 after purchasing an additional 286 shares during the period. Capital City Trust Co. FL bought a new position in shares of Southern in the second quarter valued at approximately $306,000. Berkeley Capital Partners LLC raised its position in shares of Southern by 3.5% in the first quarter. Berkeley Capital Partners LLC now owns 14,463 shares of the utilities provider’s stock valued at $1,006,000 after purchasing an additional 485 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of Southern by 1,073.3% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 880 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 805 shares during the period. Finally, Gratus Capital LLC raised its position in shares of Southern by 3.9% in the second quarter. Gratus Capital LLC now owns 6,186 shares of the utilities provider’s stock valued at $435,000 after purchasing an additional 233 shares during the period. 62.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SO has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Southern from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 6th. Bank of America raised shares of Southern from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $67.00 to $68.00 in a research report on Wednesday, September 13th. BMO Capital Markets dropped their target price on shares of Southern from $72.00 to $70.00 and set a “market perform” rating on the stock in a research report on Thursday, August 31st. LADENBURG THALM/SH SH started coverage on shares of Southern in a research note on Wednesday, August 9th. They set a “buy” rating and a $72.00 price target on the stock. Finally, Guggenheim decreased their price target on shares of Southern from $80.00 to $72.00 in a research note on Monday, October 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.00.

Insider Buying and Selling

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 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. Also, EVP Martin Bernard Davis sold 1,490 shares of the business’s 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 sale, the executive vice president now directly owns 72,756 shares of the company’s stock, valued at $4,878,289.80. The disclosure for this sale can be found here. Insiders have sold a total of 31,490 shares of company stock worth $2,146,405 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.

Southern Stock Up 0.3 %

Shares of NYSE:SO opened at $69.77 on Friday. The Southern Company has a 52 week low of $58.85 and a 52 week high of $75.80. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.63 and a current ratio of 0.84. The company’s fifty day moving average is $67.64 and its 200-day moving average is $69.40. The company has a market capitalization of $76.09 billion, a PE ratio of 25.19, a P/E/G ratio of 4.86 and a beta of 0.55.

Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Monday, November 20th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 17th. This represents a $2.80 annualized dividend and a yield of 4.01%. Southern’s dividend payout ratio (DPR) is 101.08%.

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.