FAS Wealth Partners Inc. Acquires 21,250 Shares of The Southern Company (NYSE:SO)

FAS Wealth Partners Inc. increased its position in shares of The Southern Company (NYSE:SOFree Report) by 682.8% during the 4th quarter, HoldingsChannel reports. The fund owned 24,362 shares of the utilities provider’s stock after purchasing an additional 21,250 shares during the quarter. FAS Wealth Partners Inc.’s holdings in Southern were worth $1,708,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SO. Prudential PLC lifted its stake in shares of Southern by 23.4% during the first quarter. Prudential PLC now owns 19,438 shares of the utilities provider’s stock valued at $1,409,000 after acquiring an additional 3,689 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Southern by 33.5% during the first quarter. Parkside Financial Bank & Trust now owns 1,727 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 433 shares during the period. Covestor Ltd lifted its stake in shares of Southern by 63.0% during the first quarter. Covestor Ltd now owns 1,902 shares of the utilities provider’s stock valued at $138,000 after acquiring an additional 735 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Southern by 0.4% during the first quarter. NewEdge Advisors LLC now owns 49,925 shares of the utilities provider’s stock valued at $3,621,000 after acquiring an additional 221 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of Southern by 35.8% during the first quarter. Mackenzie Financial Corp now owns 907,132 shares of the utilities provider’s stock valued at $65,776,000 after acquiring an additional 239,325 shares during the period. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Up 0.4 %

Shares of Southern stock opened at $71.35 on Wednesday. The Southern Company has a 1 year low of $61.56 and a 1 year high of $75.80. The business has a 50-day moving average of $68.59 and a two-hundred day moving average of $68.89. The company has a market capitalization of $77.84 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 4.44 and a beta of 0.49. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.77 and a quick ratio of 0.56.

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

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.92%. Southern’s payout ratio is presently 77.14%.

Analyst Upgrades and Downgrades

SO has been the topic of several analyst reports. Mizuho increased their target price on Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 target price on shares of Southern in a research note on Wednesday, February 21st. Wells Fargo & Company cut their target price on Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Friday, February 16th. Barclays cut their target price on Southern from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 17th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $76.00 target price (up previously from $72.00) on shares of Southern in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.00.

View Our Latest Analysis on SO

Insider Buying and Selling

In related news, insider David P. Poroch sold 10,099 shares of the stock in a transaction dated 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 in the company, valued at $2,007,222.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider David P. Poroch sold 10,099 shares of the stock in a transaction dated 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 in the company, valued at $2,007,222.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $71.99, for a total value of $359,950.00. Following the completion of the transaction, the chief executive officer now owns 101,284 shares of the company’s stock, valued at $7,291,435.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,998 shares of company stock worth $1,806,063. 0.37% of the stock is owned by corporate insiders.

Southern Company Profile

(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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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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