Secure Asset Management LLC acquired a new position in shares of Southern Co (NYSE:SO) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,973 shares of the utilities provider’s stock, valued at approximately $253,000.
Other hedge funds have also recently modified their holdings of the company. KCS Wealth Advisory purchased a new position in Southern during the third quarter worth $25,000. Venturi Wealth Management LLC purchased a new position in Southern during the third quarter worth $34,000. Alpha Windward LLC purchased a new position in Southern during the fourth quarter worth $36,000. Strategic Blueprint LLC purchased a new position in Southern during the third quarter worth $37,000. Finally, Fulcrum Capital LLC purchased a new position in Southern during the third quarter worth $2,206,000. 58.86% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on SO. Royal Bank of Canada reissued a “buy” rating and set a $67.00 price target on shares of Southern in a research report on Sunday, January 19th. Morgan Stanley raised their price target on Southern from $58.00 to $60.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 22nd. SunTrust Banks raised their price target on Southern from $60.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Citigroup raised their price target on Southern from $61.00 to $73.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, Credit Suisse Group raised their price target on Southern from $60.00 to $64.00 and gave the stock an “underperform” rating in a research report on Wednesday, December 18th. Three equities research 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 company currently has an average rating of “Hold” and an average target price of $62.79.
Shares of NYSE:SO traded down $0.45 during midday trading on Friday, reaching $69.09. The company’s stock had a trading volume of 3,627,949 shares, compared to its average volume of 4,216,835. The firm has a market cap of $71.96 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 4.80 and a beta of 0.15. The company has a quick ratio of 0.77, a current ratio of 0.94 and a debt-to-equity ratio of 1.37. Southern Co has a 1 year low of $48.42 and a 1 year high of $71.10. The business has a 50 day moving average price of $66.50 and a 200 day moving average price of $62.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 18th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Friday, February 14th. Southern’s dividend payout ratio is currently 80.78%.
In other news, Pres. & CEO, Southern Nuclear Stephen E. Kuczynski sold 2,000 shares of Southern stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $62.08, for a total value of $124,160.00. Following the completion of the sale, the insider now owns 63,772 shares of the company’s stock, valued at $3,958,965.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Anthony L. Wilson sold 61,018 shares of Southern stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $65.00, for a total value of $3,966,170.00. Following the completion of the sale, the chief executive officer now directly owns 90,208 shares of the company’s stock, valued at approximately $5,863,520. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,216,238 shares of company stock valued at $139,613,163. Company insiders own 0.88% of the company’s stock.
Southern Company Profile
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.
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