The Southern Company (NYSE:SO) Shares Sold by Islay Capital Management LLC

Islay Capital Management LLC trimmed its position in The Southern Company (NYSE:SO) by 65.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,666 shares of the utilities provider’s stock after selling 12,588 shares during the period. Islay Capital Management LLC’s holdings in Southern were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Insigneo Advisory Services LLC increased its holdings in shares of Southern by 3.1% in the third quarter. Insigneo Advisory Services LLC now owns 4,883 shares of the utilities provider’s stock valued at $316,000 after purchasing an additional 146 shares during the period. Good Life Advisors LLC grew its holdings in Southern by 0.8% during the fourth quarter. Good Life Advisors LLC now owns 19,956 shares of the utilities provider’s stock worth $1,399,000 after acquiring an additional 149 shares during the period. Insight Inv LLC grew its holdings in Southern by 1.4% during the fourth quarter. Insight Inv LLC now owns 10,530 shares of the utilities provider’s stock worth $738,000 after acquiring an additional 150 shares during the period. Patten & Patten Inc. TN grew its holdings in Southern by 0.7% during the fourth quarter. Patten & Patten Inc. TN now owns 20,736 shares of the utilities provider’s stock worth $1,454,000 after acquiring an additional 150 shares during the period. Finally, CNB Bank grew its holdings in Southern by 23.9% during the fourth quarter. CNB Bank now owns 778 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Insider Activity at Southern

In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the stock in a transaction that occurred 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 completion of the sale, 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 legal filing with the SEC, which is available through the SEC website. In other Southern news, EVP Christopher Cummiskey sold 899 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total transaction of $60,286.94. Following the completion of the sale, the executive vice president now owns 22,502 shares of the company’s stock, valued at $1,508,984.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 129,552 shares of the company’s stock, valued at approximately $8,672,210.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,899 shares of company stock valued at $739,587. 0.18% of the stock is currently owned by insiders.

Southern Price Performance

Shares of NYSE SO traded down $0.01 during midday trading on Tuesday, hitting $74.38. The stock had a trading volume of 1,517,874 shares, compared to its average volume of 4,679,419. The company has a market capitalization of $81.42 billion, a PE ratio of 20.49, a P/E/G ratio of 4.59 and a beta of 0.49. The stock has a 50 day simple moving average of $69.80 and a 200-day simple moving average of $69.45. The Southern Company has a 1 year low of $61.56 and a 1 year high of $75.80. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 1.62.

Southern (NYSE:SO) last released its earnings results on Thursday, February 15th. The utilities provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. The business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6.90 billion. Southern had a return on equity of 11.40% and a net margin of 15.79%. The business’s quarterly revenue was down 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share. On average, sell-side analysts expect that The Southern Company will post 3.99 EPS for the current fiscal year.

Southern Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.87%. 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 currently 77.14%.

Analyst Upgrades and Downgrades

Several analysts recently commented on SO shares. Mizuho raised their target price on Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Bank of America raised their target price on Southern from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. Wells Fargo & Company lowered their price target on Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. UBS Group downgraded Southern from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $78.00 to $76.00 in a research report on Thursday, April 4th. Finally, Scotiabank lowered their price target on Southern from $80.00 to $77.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.36.

Southern 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.