Wealthcare Advisory Partners LLC Sells 8,334 Shares of Southern Company (The) $SO

Wealthcare Advisory Partners LLC trimmed its holdings in shares of Southern Company (The) (NYSE:SO) by 14.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,770 shares of the utilities provider’s stock after selling 8,334 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Southern were worth $4,859,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Uptick Partners LLC boosted its position in shares of Southern by 1.5% during the 1st quarter. Uptick Partners LLC now owns 7,601 shares of the utilities provider’s stock valued at $734,000 after acquiring an additional 110 shares during the last quarter. Seelaus Asset Management LLC increased its position in shares of Southern by 2.4% in the first quarter. Seelaus Asset Management LLC now owns 4,923 shares of the utilities provider’s stock worth $475,000 after purchasing an additional 115 shares during the last quarter. KCM Investment Advisors LLC increased its position in shares of Southern by 0.3% in the first quarter. KCM Investment Advisors LLC now owns 34,328 shares of the utilities provider’s stock worth $3,313,000 after purchasing an additional 115 shares during the last quarter. Stokes Family Office LLC raised its stake in Southern by 0.7% in the fourth quarter. Stokes Family Office LLC now owns 15,994 shares of the utilities provider’s stock valued at $1,395,000 after purchasing an additional 115 shares in the last quarter. Finally, Leonteq Securities AG raised its stake in Southern by 4.7% in the first quarter. Leonteq Securities AG now owns 2,657 shares of the utilities provider’s stock valued at $256,000 after purchasing an additional 119 shares in the last quarter. 64.10% of the stock is currently owned by institutional investors.

Southern Stock Performance

NYSE:SO opened at $91.86 on Wednesday. The company has a market capitalization of $105.67 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.76 and a beta of 0.34. The business has a 50 day moving average of $94.63 and a 200 day moving average of $94.25. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.79 and a quick ratio of 0.59. Southern Company has a 1-year low of $83.80 and a 1-year high of $100.83.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.12. The business had revenue of $6.98 billion for the quarter, compared to analysts’ expectations of $7.23 billion. Southern had a net margin of 15.43% and a return on equity of 12.93%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the business earned $0.79 earnings per share. On average, sell-side analysts predict that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. Southern’s dividend payout ratio (DPR) is currently 72.90%.

Analysts Set New Price Targets

SO has been the subject of several research analyst reports. BMO Capital Markets lifted their target price on shares of Southern from $102.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Mizuho set a $106.00 price target on shares of Southern in a report on Friday, July 31st. Morgan Stanley restated an “underweight” rating on shares of Southern in a research report on Wednesday, July 22nd. Barclays dropped their price objective on shares of Southern from $99.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, June 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Southern in a research report on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Southern currently has an average rating of “Hold” and an average price target of $100.26.

About Southern

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.