Bartlett & Co. LLC Boosts Holdings in Southern Co (NYSE:SO)

Bartlett & Co. LLC raised its holdings in shares of Southern Co (NYSE:SO) by 94.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,604 shares of the utilities provider’s stock after acquiring an additional 4,174 shares during the quarter. Bartlett & Co. LLC’s holdings in Southern were worth $531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Fulcrum Capital LLC acquired a new stake in shares of Southern during the 3rd quarter worth about $2,206,000. Strategic Wealth Advisors Group LLC boosted its stake in shares of Southern by 1.2% during the 3rd quarter. Strategic Wealth Advisors Group LLC now owns 40,782 shares of the utilities provider’s stock worth $2,523,000 after purchasing an additional 464 shares during the last quarter. Schulhoff & Co. Inc. acquired a new stake in shares of Southern during the 3rd quarter worth about $370,000. AlphaMark Advisors LLC boosted its stake in shares of Southern by 19.9% during the 3rd quarter. AlphaMark Advisors LLC now owns 3,113 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 516 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Southern by 56.3% during the 3rd quarter. Parallel Advisors LLC now owns 5,880 shares of the utilities provider’s stock worth $363,000 after purchasing an additional 2,118 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

SO opened at $61.26 on Friday. The company’s 50 day simple moving average is $61.54 and its 200 day simple moving average is $57.28. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.77 and a current ratio of 0.94. Southern Co has a 1 year low of $42.50 and a 1 year high of $63.09. The stock has a market capitalization of $64.35 billion, a PE ratio of 19.95, a P/E/G ratio of 4.42 and a beta of 0.15.

Southern (NYSE:SO) last released its earnings results on Wednesday, October 30th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.20. Southern had a net margin of 21.02% and a return on equity of 10.52%. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.01 billion. During the same period last year, the company earned $1.14 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Southern Co will post 3.09 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.48 annualized dividend and a dividend yield of 4.05%. Southern’s dividend payout ratio is presently 80.78%.

In related news, EVP James Y. Kerr II sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $62.16, for a total value of $1,554,000.00. Following the sale, the executive vice president now directly owns 67,655 shares of the company’s stock, valued at $4,205,434.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen E. Kuczynski sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $62.22, for a total transaction of $124,440.00. Following the completion of the sale, the chief executive officer now directly owns 65,772 shares in the company, valued at $4,092,333.84. The disclosure for this sale can be found here. Insiders sold 177,533 shares of company stock worth $10,941,987 over the last three months. Corporate insiders own 0.88% of the company’s stock.

Several equities research analysts have issued reports on the stock. UBS Group raised their price target on shares of Southern from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. SunTrust Banks set a $59.00 price target on shares of Southern and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Bank of America raised their price target on shares of Southern from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. ValuEngine cut shares of Southern from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Citigroup raised their price target on shares of Southern from $55.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $56.80.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.

Further Reading: Equal Weight Rating

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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