Creative Planning Sells 7,083 Shares of Southern Company (The) (SO)

Creative Planning trimmed its stake in Southern Company (The) (NYSE:SO) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,538 shares of the utilities provider’s stock after selling 7,083 shares during the period. Creative Planning’s holdings in Southern Company (The) were worth $8,165,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Symmetry Partners LLC bought a new stake in Southern Company (The) during the first quarter valued at $103,000. Stuart Chaussee & Associates Inc. boosted its position in Southern Company (The) by 358.8% during the first quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock valued at $111,000 after acquiring an additional 1,740 shares during the last quarter. IHT Wealth Management LLC boosted its position in Southern Company (The) by 15.3% during the first quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 302 shares during the last quarter. AlphaMark Advisors LLC boosted its position in Southern Company (The) by 115.7% during the first quarter. AlphaMark Advisors LLC now owns 2,349 shares of the utilities provider’s stock valued at $117,000 after acquiring an additional 1,260 shares during the last quarter. Finally, Ruggie Capital Group boosted its position in Southern Company (The) by 228.0% during the first quarter. Ruggie Capital Group now owns 2,578 shares of the utilities provider’s stock valued at $128,000 after acquiring an additional 1,792 shares during the last quarter. Institutional investors and hedge funds own 53.27% of the company’s stock.

A number of brokerages have commented on SO. Guggenheim raised shares of Southern Company (The) from a “neutral” rating to a “buy” rating and upped their price target for the company from $49.00 to $56.00 in a research report on Thursday. Jefferies Group LLC reaffirmed a “buy” rating and set a $56.00 price target (up previously from $55.00) on shares of Southern Company (The) in a research report on Tuesday, September 12th. Zacks Investment Research cut shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research report on Monday, September 11th. Mizuho raised shares of Southern Company (The) from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Tuesday, September 5th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Southern Company (The) in a research report on Friday, September 1st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $49.63.

In related news, EVP Christopher C. Womack sold 75,144 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the transaction, the executive vice president now owns 85,298 shares in the company, valued at $4,204,338.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by insiders.

Southern Company (SO) traded up 0.48% during trading on Friday, hitting $50.64. 7,244,756 shares of the stock were exchanged. Southern Company has a 52 week low of $46.20 and a 52 week high of $53.73. The stock has a market cap of $50.61 billion, a P/E ratio of 83.29 and a beta of 0.13. The stock has a 50 day moving average of $48.86 and a 200-day moving average of $49.47.

Southern Company (The) (NYSE:SO) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter in the previous year, the company earned $0.74 earnings per share. Southern Company (The)’s quarterly revenue was up 21.7% on a year-over-year basis. Equities analysts expect that Southern Company will post $2.94 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Monday, August 21st were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend was Thursday, August 17th. Southern Company (The)’s dividend payout ratio is currently 346.27%.

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About Southern Company (The)

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

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Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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