The Southern Company (NYSE:SO) Position Raised by Belpointe Asset Management LLC

Belpointe Asset Management LLC grew its holdings in shares of The Southern Company (NYSE:SOFree Report) by 23.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,713 shares of the utilities provider’s stock after buying an additional 1,662 shares during the period. Belpointe Asset Management LLC’s holdings in Southern were worth $611,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Rockline Wealth Management LLC bought a new stake in shares of Southern in the 4th quarter worth $1,945,000. Savant Capital LLC boosted its holdings in shares of Southern by 4.3% in the fourth quarter. Savant Capital LLC now owns 65,937 shares of the utilities provider’s stock worth $4,624,000 after buying an additional 2,691 shares during the period. Zullo Investment Group Inc. increased its position in shares of Southern by 4.8% in the fourth quarter. Zullo Investment Group Inc. now owns 3,437 shares of the utilities provider’s stock worth $241,000 after acquiring an additional 157 shares in the last quarter. Global Retirement Partners LLC raised its stake in Southern by 5.8% during the 4th quarter. Global Retirement Partners LLC now owns 14,856 shares of the utilities provider’s stock valued at $1,045,000 after purchasing an additional 819 shares during the period. Finally, Principal Securities Inc. acquired a new stake in shares of Southern in the fourth quarter worth $1,325,000. Institutional investors own 64.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Scotiabank decreased their price objective on Southern from $80.00 to $77.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. UBS Group downgraded Southern from a “buy” rating to a “neutral” rating and lowered their target price for the company from $78.00 to $76.00 in a research note on Thursday, April 4th. Argus raised their price target on Southern from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Wells Fargo & Company boosted their price target on Southern from $72.00 to $77.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Finally, Mizuho raised their price objective on shares of Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $76.60.

Read Our Latest Stock Analysis on Southern

Southern Price Performance

Shares of Southern stock opened at $79.42 on Thursday. The Southern Company has a fifty-two week low of $61.56 and a fifty-two week high of $80.84. The company has a market cap of $86.84 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.91 and a beta of 0.51. The firm has a fifty day moving average price of $74.83 and a two-hundred day moving average price of $71.36. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.92 and a quick ratio of 0.65.

Southern (NYSE:SOGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. Southern had a return on equity of 12.07% and a net margin of 16.74%. The business had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.59 billion. During the same period in the previous year, the business posted $0.79 earnings per share. Southern’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts expect that The Southern Company will post 3.99 EPS for the current year.

Southern Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be paid a $0.72 dividend. The ex-dividend date is Friday, May 17th. This represents a $2.88 dividend on an annualized basis and a yield of 3.63%. This is a boost from Southern’s previous quarterly dividend of $0.70. Southern’s payout ratio is presently 74.42%.

Insider Buying and Selling

In related news, CEO Kimberly S. Greene sold 9,126 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total transaction of $684,815.04. Following the completion of the transaction, the chief executive officer now owns 121,504 shares in the company, valued at approximately $9,117,660.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Southern news, CEO Kimberly S. Greene sold 9,126 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total value of $684,815.04. Following the transaction, the chief executive officer now directly owns 121,504 shares in the company, valued at $9,117,660.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $68.92, for a total transaction of $344,600.00. Following the sale, the chief executive officer now directly 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. Company insiders own 0.18% 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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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