C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Sells 9,085 Shares of The Southern Company (NYSE:SO)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors decreased its holdings in The Southern Company (NYSE:SO) by 84.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,696 shares of the utilities provider’s stock after selling 9,085 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Southern were worth $140,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Creative Planning grew its holdings in Southern by 3.4% in the third quarter. Creative Planning now owns 368,646 shares of the utilities provider’s stock worth $33,245,000 after purchasing an additional 12,011 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Southern by 10.1% in the third quarter. Global Retirement Partners LLC now owns 19,275 shares of the utilities provider’s stock worth $1,738,000 after purchasing an additional 1,763 shares during the last quarter. Buffington Mohr McNeal purchased a new position in Southern in the third quarter worth $257,000. Trust Co. of Vermont grew its holdings in Southern by 3.6% in the third quarter. Trust Co. of Vermont now owns 24,445 shares of the utilities provider’s stock worth $2,204,000 after purchasing an additional 844 shares during the last quarter. Finally, Drake & Associates LLC grew its holdings in Southern by 13.9% in the third quarter. Drake & Associates LLC now owns 4,354 shares of the utilities provider’s stock worth $393,000 after purchasing an additional 531 shares during the last quarter. Institutional investors own 64.10% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Martin Bernard Davis sold 1,170 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $85.90, for a total transaction of $100,503.00. Following the completion of the transaction, the executive vice president now owns 88,393 shares in the company, valued at $7,592,958.70. This represents a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Jeffrey Peoples sold 14,540 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $86.00, for a total transaction of $1,250,440.00. Following the transaction, the chief executive officer now owns 13,236 shares of the company’s stock, valued at approximately $1,138,296. This trade represents a 52.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Southern Trading Down 1.2 %

Shares of Southern stock opened at $85.72 on Friday. The firm has a 50-day simple moving average of $83.36 and a two-hundred day simple moving average of $86.77. The company has a market cap of $93.92 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53. The Southern Company has a fifty-two week low of $65.80 and a fifty-two week high of $94.45. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.66 and a current ratio of 0.91.

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th will be given a $0.72 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.36%. Southern’s dividend payout ratio (DPR) is currently 66.98%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SO shares. Scotiabank lifted their price target on shares of Southern from $96.00 to $98.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Mizuho boosted their price objective on shares of Southern from $83.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley dropped their price objective on shares of Southern from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. BMO Capital Markets dropped their price objective on shares of Southern from $99.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Guggenheim lowered shares of Southern from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Southern currently has a consensus rating of “Hold” and a consensus price target of $89.79.

About Southern

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.