Bennicas & Associates Inc. Decreases Stake in Southern Co (NYSE:SO)

Bennicas & Associates Inc. lowered its stake in shares of Southern Co (NYSE:SO) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,966 shares of the utilities provider’s stock after selling 234 shares during the quarter. Bennicas & Associates Inc.’s holdings in Southern were worth $1,408,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Keebeck Wealth Management LLC acquired a new stake in Southern during the second quarter worth approximately $29,000. Legacy Bridge LLC acquired a new stake in Southern during the second quarter worth approximately $31,000. MV Capital Management Inc. raised its holdings in Southern by 562.0% during the second quarter. MV Capital Management Inc. now owns 662 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 562 shares in the last quarter. Demars Financial Group LLC acquired a new stake in Southern during the second quarter worth approximately $36,000. Finally, Prestige Wealth Management Group LLC raised its holdings in Southern by 454.4% during the first quarter. Prestige Wealth Management Group LLC now owns 693 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 568 shares in the last quarter. 57.29% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on the stock. KeyCorp cut their price objective on shares of Southern from $71.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Morgan Stanley lifted their target price on shares of Southern from $56.00 to $57.00 and gave the company an “underweight” rating in a report on Monday, October 5th. Barclays raised shares of Southern from an “equal weight” rating to an “overweight” rating and set a $61.00 target price on the stock in a report on Monday, September 21st. UBS Group cut their target price on shares of Southern from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, September 1st. Finally, Mizuho cut shares of Southern from a “neutral” rating to an “underperform” rating and cut their target price for the company from $53.00 to $48.00 in a report on Thursday, September 10th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $61.90.

Southern stock opened at $58.35 on Friday. Southern Co has a 1 year low of $41.96 and a 1 year high of $71.10. The firm has a 50 day moving average price of $54.22 and a 200 day moving average price of $54.71. The company has a market cap of $61.63 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 4.10 and a beta of 0.39. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.75 and a current ratio of 0.97.

Southern (NYSE:SO) last released its earnings results on Thursday, July 30th. The utilities provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. Southern had a net margin of 15.83% and a return on equity of 10.47%. The firm had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. Southern’s revenue was down 9.4% compared to the same quarter last year. Sell-side analysts predict that Southern Co will post 3.16 EPS for the current year.

In other Southern news, CEO Stephen E. Kuczynski sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $55.00, for a total transaction of $137,500.00. Following the completion of the sale, the chief executive officer now directly owns 76,996 shares in the company, valued at $4,234,780. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David J. Grain sold 10,291 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $52.92, for a total transaction of $544,599.72. Following the sale, the director now owns 791 shares of the company’s stock, valued at $41,859.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,721 shares of company stock valued at $1,301,040. 0.39% of the stock is owned by insiders.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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