Benjamin F. Edwards & Company Inc. Boosts Stock Position in The Southern Company (NYSE:SO)

Benjamin F. Edwards & Company Inc. increased its holdings in shares of The Southern Company (NYSE:SO) by 213.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 143,934 shares of the utilities provider’s stock after acquiring an additional 98,068 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Southern were worth $10,092,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BKM Wealth Management LLC purchased a new stake in Southern during the 4th quarter worth approximately $34,000. Valley National Advisers Inc. increased its position in shares of Southern by 63.9% during the fourth quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 205 shares in the last quarter. CNB Bank raised its stake in Southern by 1,021.4% in the 3rd quarter. CNB Bank now owns 628 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 572 shares during the last quarter. Your Advocates Ltd. LLP purchased a new position in Southern in the 3rd quarter valued at $42,000. Finally, Atticus Wealth Management LLC boosted its stake in Southern by 30.4% during the 3rd quarter. Atticus Wealth Management LLC now owns 652 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 target price on shares of Southern in a research report on Wednesday, February 21st. BMO Capital Markets restated an “outperform” rating and set a $76.00 target price (up from $72.00) on shares of Southern in a report on Monday, April 1st. Scotiabank dropped their price target on Southern from $80.00 to $77.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. Bank of America boosted their price objective on Southern from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. Finally, Wells Fargo & Company lifted their price target on Southern from $72.00 to $77.00 and gave the stock an “equal weight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.71.

Southern Stock Up 0.7 %

Shares of NYSE SO traded up $0.52 during midday trading on Friday, hitting $75.85. The company’s stock had a trading volume of 4,469,453 shares, compared to its average volume of 4,739,155. The Southern Company has a 1 year low of $61.56 and a 1 year high of $75.98. The business’s fifty day simple moving average is $70.22 and its two-hundred day simple moving average is $69.58. The firm has a market capitalization of $83.03 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. 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:SO) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.59 billion. Southern had a return on equity of 11.40% and a net margin of 15.79%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 earnings per share. On average, equities analysts predict that The Southern Company will post 3.99 EPS for the current year.

Southern Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Monday, May 20th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Friday, May 17th. This is a boost from Southern’s previous quarterly dividend of $0.70. Southern’s dividend payout ratio (DPR) is presently 79.34%.

Insider Transactions at Southern

In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $66.94, for a total value of $334,700.00. Following the transaction, the chief executive officer now owns 129,552 shares of the company’s stock, valued at $8,672,210.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Southern news, CEO Kimberly S. Greene sold 9,126 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total value of $684,815.04. Following the completion of the transaction, the chief executive officer now owns 121,504 shares in the company, valued at $9,117,660.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $66.94, for a total value of $334,700.00. Following the sale, the chief executive officer now owns 129,552 shares in the company, valued at approximately $8,672,210.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,025 shares of company stock valued at $1,424,402. 0.18% of the stock is currently owned by corporate insiders.

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.