Sound Income Strategies LLC Has $1.08 Million Stock Position in Southern Company (The) $SO

Sound Income Strategies LLC increased its position in shares of Southern Company (The) (NYSE:SO) by 270.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,127 shares of the utilities provider’s stock after buying an additional 8,854 shares during the quarter. Sound Income Strategies LLC’s holdings in Southern were worth $1,078,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SO. Capital World Investors raised its stake in Southern by 320.3% during the 3rd quarter. Capital World Investors now owns 33,548,852 shares of the utilities provider’s stock worth $3,179,425,000 after buying an additional 25,567,431 shares during the period. Soroban Capital Partners LP raised its stake in Southern by 83.8% during the 2nd quarter. Soroban Capital Partners LP now owns 4,097,422 shares of the utilities provider’s stock worth $376,266,000 after buying an additional 1,867,912 shares during the period. Canada Pension Plan Investment Board raised its stake in Southern by 1,518.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,044,101 shares of the utilities provider’s stock worth $95,880,000 after buying an additional 979,587 shares during the period. Balyasny Asset Management L.P. raised its stake in Southern by 790.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 811,737 shares of the utilities provider’s stock worth $74,542,000 after buying an additional 720,589 shares during the period. Finally, Donaldson Capital Management LLC raised its stake in Southern by 2,785.8% during the 3rd quarter. Donaldson Capital Management LLC now owns 563,027 shares of the utilities provider’s stock worth $53,358,000 after buying an additional 543,517 shares during the period. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Stock Performance

Shares of Southern stock opened at $96.76 on Wednesday. The company has a market cap of $106.55 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 2.94 and a beta of 0.41. Southern Company has a 52 week low of $83.09 and a 52 week high of $100.83. The business has a 50 day moving average price of $94.63 and a 200-day moving average price of $92.09. The company has a quick ratio of 0.47, a current ratio of 0.65 and a debt-to-equity ratio of 1.69.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, February 18th. The utilities provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). The company had revenue of $6.98 billion during the quarter, compared to analysts’ expectations of $6.41 billion. Southern had a return on equity of 12.52% and a net margin of 14.69%.The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. Equities analysts anticipate that Southern Company will post 4.29 earnings per share for the current fiscal year.

Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Tuesday, February 17th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, February 17th. Southern’s dividend payout ratio (DPR) is presently 75.32%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SO shares. TD Cowen upped their price target on Southern from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Morgan Stanley reaffirmed an “underweight” rating on shares of Southern in a research note on Friday, February 20th. Wells Fargo & Company set a $96.00 price objective on Southern and gave the stock an “equal weight” rating in a research note on Friday, February 20th. Evercore raised Southern from an “in-line” rating to an “outperform” rating and set a $111.00 price objective for the company in a research note on Thursday, March 5th. Finally, JPMorgan Chase & Co. lowered their price objective on Southern from $104.00 to $93.00 and set a “neutral” rating for the company in a research note on Monday, December 15th. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $98.08.

Insider Buying and Selling

In related news, CEO Kimberly S. Greene sold 25,000 shares of the stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the completion of the sale, the chief executive officer directly owned 103,602 shares of the company’s stock, valued at approximately $10,015,205.34. This trade represents a 19.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christopher Cummiskey sold 6,669 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $96.55, for a total value of $643,891.95. Following the sale, the executive vice president directly owned 30,800 shares of the company’s stock, valued at $2,973,740. The trade was a 17.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.16% of the company’s stock.

Southern Profile

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.