The Southern Company (NYSE:SO) Shares Sold by TCTC Holdings LLC

TCTC Holdings LLC decreased its position in The Southern Company (NYSE:SO) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,934 shares of the utilities provider’s stock after selling 5,848 shares during the quarter. TCTC Holdings LLC’s holdings in Southern were worth $9,553,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SO. Central Pacific Bank Trust Division purchased a new position in Southern in the 1st quarter valued at approximately $39,000. Cedar Wealth Management LLC boosted its holdings in Southern by 63.2% in the first quarter. Cedar Wealth Management LLC now owns 545 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 211 shares during the period. TruNorth Capital Management LLC purchased a new stake in Southern during the 2nd quarter worth about $39,000. Versant Capital Management Inc raised its position in Southern by 31.8% in the 2nd quarter. Versant Capital Management Inc now owns 585 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 141 shares in the last quarter. Finally, West Branch Capital LLC grew its position in shares of Southern by 34.7% during the third quarter. West Branch Capital LLC now owns 501 shares of the utilities provider’s stock worth $45,000 after buying an additional 129 shares in the last quarter. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Southern

In related news, EVP Bryan D. Anderson sold 6,565 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $89.54, for a total value of $587,830.10. Following the completion of the sale, the executive vice president now owns 44,467 shares in the company, valued at $3,981,575.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO James Y. Kerr II sold 30,000 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the transaction, the chief executive officer now directly owns 145,088 shares of the company’s stock, valued at $13,005,688.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bryan D. Anderson sold 6,565 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $89.54, for a total transaction of $587,830.10. Following the completion of the sale, the executive vice president now owns 44,467 shares of the company’s stock, valued at $3,981,575.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Southern Stock Performance

Shares of Southern stock opened at $88.64 on Friday. The stock has a market capitalization of $97.12 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 3.11 and a beta of 0.52. The firm’s fifty day simple moving average is $89.93 and its 200-day simple moving average is $83.75. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.91 and a quick ratio of 0.66. The Southern Company has a 12 month low of $65.80 and a 12 month high of $94.45.

Southern (NYSE:SO) last announced its earnings results on Thursday, October 31st. The utilities provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.10. The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $7.14 billion. Southern had a net margin of 17.87% and a return on equity of 12.78%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.42 earnings per share. As a group, equities analysts forecast that The Southern Company will post 4.04 earnings per share for the current year.

Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Monday, November 18th. Southern’s dividend payout ratio is presently 66.98%.

Analyst Ratings Changes

SO has been the topic of several analyst reports. Jefferies Financial Group began coverage on shares of Southern in a report on Friday, September 20th. They issued a “hold” rating and a $94.00 target price on the stock. Scotiabank raised their price objective on shares of Southern from $87.00 to $96.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Morgan Stanley boosted their target price on shares of Southern from $78.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company raised their price target on Southern from $77.00 to $89.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets lowered their price objective on Southern from $99.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Southern has an average rating of “Hold” and an average target price of $89.27.

Southern Company Profile

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.