The Southern Company (NYSE:SO) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. boosted its stake in The Southern Company (NYSE:SOFree Report) by 4.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 693,223 shares of the utilities provider’s stock after acquiring an additional 31,203 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Southern were worth $48,609,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. VisionPoint Advisory Group LLC bought a new position in Southern during the 2nd quarter valued at $27,000. Intrepid Capital Management Inc. bought a new position in shares of Southern in the second quarter valued at $30,000. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Southern in the 4th quarter worth $34,000. BKM Wealth Management LLC acquired a new stake in shares of Southern during the fourth quarter worth $34,000. Finally, VitalStone Financial LLC acquired a new position in shares of Southern in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Citigroup assumed coverage on shares of Southern in a research note on Friday, December 8th. They set a “buy” rating and a $82.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Southern in a research report on Wednesday, February 21st. BMO Capital Markets dropped their price target on Southern from $75.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Barclays decreased their price objective on Southern from $68.00 to $67.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Southern from $69.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $73.46.

Check Out Our Latest Stock Report on SO

Southern Trading Down 0.0 %

Southern stock opened at $69.78 on Tuesday. The business’s 50-day simple moving average is $68.45 and its 200-day simple moving average is $68.80. The Southern Company has a 52 week low of $61.56 and a 52 week high of $75.80. The firm has a market capitalization of $76.13 billion, a PE ratio of 19.22, a PEG ratio of 4.36 and a beta of 0.49. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.56 and a current ratio of 0.77.

Southern (NYSE:SOGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. Southern had a return on equity of 11.40% and a net margin of 15.79%. The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the business posted $0.26 EPS. The company’s revenue for the quarter was down 14.2% on a year-over-year basis. Equities research analysts forecast that The Southern Company will post 4 earnings per share for the current year.

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.80 annualized dividend and a yield of 4.01%. Southern’s dividend payout ratio (DPR) is currently 77.14%.

Insider Transactions at Southern

In other Southern news, insider David P. Poroch sold 10,099 shares of Southern stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $69.96, for a total transaction of $706,526.04. Following the completion of the transaction, the insider now directly owns 28,691 shares of the company’s stock, valued at $2,007,222.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider David P. Poroch sold 10,099 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $69.96, for a total transaction of $706,526.04. Following the sale, the insider now directly owns 28,691 shares in the company, valued at approximately $2,007,222.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction on Monday, March 11th. The shares were sold at an average price of $68.92, for a total value of $344,600.00. Following the completion of the transaction, the chief executive officer now owns 126,528 shares of the company’s stock, valued at approximately $8,720,309.76. The disclosure for this sale can be found here. In the last three months, insiders sold 25,998 shares of company stock valued at $1,806,063. Company insiders own 0.37% of the company’s stock.

About Southern

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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.

See Also

Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Southern Company (NYSE:SOFree Report).

Institutional Ownership by Quarter for Southern (NYSE:SO)

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