Colonial River Wealth Management LLC Lowers Stock Position in The Southern Company (NYSE:SO)

Colonial River Wealth Management LLC lessened its stake in shares of The Southern Company (NYSE:SOFree Report) by 20.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,426 shares of the utilities provider’s stock after selling 1,602 shares during the quarter. Colonial River Wealth Management LLC’s holdings in Southern were worth $451,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Prudential PLC boosted its stake in shares of Southern by 23.4% in the first quarter. Prudential PLC now owns 19,438 shares of the utilities provider’s stock valued at $1,409,000 after purchasing an additional 3,689 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Southern by 33.5% in the first quarter. Parkside Financial Bank & Trust now owns 1,727 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 433 shares during the period. Covestor Ltd boosted its stake in shares of Southern by 63.0% in the first quarter. Covestor Ltd now owns 1,902 shares of the utilities provider’s stock valued at $138,000 after purchasing an additional 735 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Southern by 0.4% in the first quarter. NewEdge Advisors LLC now owns 49,925 shares of the utilities provider’s stock valued at $3,621,000 after purchasing an additional 221 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of Southern by 35.8% in the first quarter. Mackenzie Financial Corp now owns 907,132 shares of the utilities provider’s stock valued at $65,776,000 after purchasing an additional 239,325 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Insider Activity

In other news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction on Monday, February 12th. The shares were sold at an average price of $66.94, for a total value of $334,700.00. Following the transaction, the chief executive officer now directly owns 129,552 shares of the company’s stock, valued at approximately $8,672,210.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Christopher Cummiskey sold 899 shares of Southern stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total value of $60,286.94. Following the transaction, the executive vice president now directly owns 22,502 shares in the company, valued at approximately $1,508,984.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction on Monday, February 12th. The shares were sold at an average price of $66.94, for a total transaction of $334,700.00. Following the completion of the transaction, the chief executive officer now owns 129,552 shares in the company, valued at $8,672,210.88. The disclosure for this sale can be found here. Insiders have sold 25,998 shares of company stock valued at $1,806,063 in the last ninety days. 0.37% of the stock is currently owned by company insiders.

Southern Stock Up 0.4 %

SO stock traded up $0.25 during midday trading on Tuesday, reaching $71.35. 3,829,476 shares of the company were exchanged, compared to its average volume of 4,572,321. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.56 and a current ratio of 0.77. The Southern Company has a 1-year low of $61.56 and a 1-year high of $75.80. The stock’s 50-day simple moving average is $68.59 and its 200 day simple moving average is $68.89. The company has a market cap of $77.84 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 4.48 and a beta of 0.49.

Southern (NYSE:SOGet Free Report) last announced its earnings results on Thursday, February 15th. The utilities provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Southern had a net margin of 15.79% and a return on equity of 11.40%. The company’s quarterly revenue was down 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. On average, equities analysts forecast that The Southern Company will post 4 earnings per share for the current year.

Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were issued a $0.70 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.92%. Southern’s payout ratio is 77.14%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SO shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $76.00 target price (up previously from $72.00) on shares of Southern in a report on Monday. Mizuho raised their target price on shares of Southern from $73.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday. Barclays reduced their target price on shares of Southern from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 17th. Citigroup started coverage on shares of Southern in a report on Friday, December 8th. They issued a “buy” rating and a $82.00 target price on the stock. Finally, Wells Fargo & Company reduced their target price on shares of Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Southern presently has an average rating of “Hold” and a consensus target price of $74.00.

Read Our Latest Research Report on Southern

About Southern

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Southern Company (NYSE:SOFree Report).

Institutional Ownership by Quarter for Southern (NYSE:SO)

Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.