Cahaba Wealth Management Inc. Acquires 10,736 Shares of The Southern Company (NYSE:SO)

Cahaba Wealth Management Inc. grew its holdings in shares of The Southern Company (NYSE:SOFree Report) by 3.8% in the fourth quarter, HoldingsChannel reports. The fund owned 296,281 shares of the utilities provider’s stock after purchasing an additional 10,736 shares during the quarter. Southern makes up about 2.1% of Cahaba Wealth Management Inc.’s portfolio, making the stock its 11th largest holding. Cahaba Wealth Management Inc.’s holdings in Southern were worth $20,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of SO. Requisite Capital Management LLC bought a new position in Southern in the 4th quarter worth $360,000. Stonegate Investment Group LLC lifted its stake in Southern by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 987,632 shares of the utilities provider’s stock worth $69,253,000 after purchasing an additional 2,656 shares in the last quarter. Patten & Patten Inc. TN lifted its stake in Southern by 0.7% in the 4th quarter. Patten & Patten Inc. TN now owns 20,736 shares of the utilities provider’s stock worth $1,454,000 after purchasing an additional 150 shares in the last quarter. FAS Wealth Partners Inc. lifted its stake in Southern by 682.8% in the 4th quarter. FAS Wealth Partners Inc. now owns 24,362 shares of the utilities provider’s stock worth $1,708,000 after purchasing an additional 21,250 shares in the last quarter. Finally, Welch Group LLC lifted its stake in Southern by 1.1% in the 4th quarter. Welch Group LLC now owns 777,822 shares of the utilities provider’s stock worth $54,541,000 after purchasing an additional 8,185 shares in the last quarter. Institutional investors own 64.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on SO shares. BMO Capital Markets reiterated an “outperform” rating and issued a $76.00 price target (up previously from $72.00) on shares of Southern in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and set a $80.00 target price on shares of Southern in a research report on Wednesday, February 21st. Barclays decreased their target price on shares of Southern from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 17th. Citigroup began coverage on shares of Southern in a research report on Friday, December 8th. They set a “buy” rating and a $82.00 target price on the stock. Finally, Mizuho upped their target price on shares of Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $74.00.

Get Our Latest Research Report on SO

Southern Stock Performance

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

Southern (NYSE:SOGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $6.05 billion during 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 business’s quarterly revenue was down 14.2% on a year-over-year basis. During the same quarter last year, the company posted $0.26 earnings per share. On average, analysts forecast that The Southern Company will post 4 earnings per share for the current fiscal year.

Southern Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’s 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 of the company’s stock, valued at $8,672,210.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’s 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 sale, the chief executive officer now owns 129,552 shares in the company, valued at $8,672,210.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Christopher Cummiskey sold 899 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total transaction of $60,286.94. Following the sale, the executive vice president now owns 22,502 shares in the company, valued at approximately $1,508,984.12. The disclosure for this sale can be found here. Insiders sold a total of 25,998 shares of company stock valued at $1,806,063 over the last 90 days. Insiders own 0.37% of the company’s stock.

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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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