The Southern Company (NYSE:SO) Position Raised by Forsta AP Fonden

Forsta AP Fonden lifted its position in shares of The Southern Company (NYSE:SO) by 18.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 251,800 shares of the utilities provider’s stock after acquiring an additional 39,300 shares during the period. Forsta AP Fonden’s holdings in Southern were worth $22,707,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position in Southern by 4.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 323,294 shares of the utilities provider’s stock worth $23,193,000 after acquiring an additional 13,728 shares during the period. Alpha Omega Wealth Management LLC lifted its holdings in Southern by 13.6% in the first quarter. Alpha Omega Wealth Management LLC now owns 3,332 shares of the utilities provider’s stock worth $239,000 after purchasing an additional 400 shares during the period. Vicus Capital bought a new position in Southern in the 1st quarter valued at about $280,000. Coston McIsaac & Partners increased its stake in Southern by 4.0% during the 1st quarter. Coston McIsaac & Partners now owns 73,048 shares of the utilities provider’s stock valued at $5,239,000 after buying an additional 2,807 shares during the period. Finally, Cornerstone Wealth Group LLC raised its position in shares of Southern by 3.0% during the 1st quarter. Cornerstone Wealth Group LLC now owns 168,993 shares of the utilities provider’s stock worth $12,124,000 after buying an additional 4,923 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Down 1.8 %

Shares of SO traded down $1.73 during mid-day trading on Friday, reaching $91.88. The company’s stock had a trading volume of 2,498,779 shares, compared to its average volume of 4,411,693. The Southern Company has a 1 year low of $65.80 and a 1 year high of $94.45. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 1.66. The company has a market cap of $100.46 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 3.33 and a beta of 0.52. The business has a fifty day moving average of $89.31 and a 200 day moving average of $82.28.

Southern (NYSE:SO) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.19. The firm had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.10 billion. Southern had a return on equity of 12.88% and a net margin of 17.67%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company posted $0.79 EPS. As a group, analysts forecast that The Southern Company will post 4.02 earnings per share for the current fiscal year.

Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Monday, November 18th. Southern’s dividend payout ratio (DPR) is currently 68.57%.

Insider Activity

In other Southern news, CEO James Y. Kerr II sold 30,000 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $89.64, for a total value of $2,689,200.00. Following the transaction, the chief executive officer now owns 145,088 shares in the company, valued at $13,005,688.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $88.99, for a total value of $211,796.20. Following the completion of the sale, the executive vice president now directly owns 12,500 shares in the company, valued at approximately $1,112,375. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James Y. Kerr II sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $89.64, for a total value of $2,689,200.00. Following the transaction, the chief executive officer now owns 145,088 shares in the company, valued at approximately $13,005,688.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,945 shares of company stock worth $3,488,826 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

SO has been the topic of a number of research analyst reports. BMO Capital Markets raised their price objective on shares of Southern from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Scotiabank boosted their price objective on Southern from $87.00 to $96.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Guggenheim raised their target price on Southern from $93.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price target on shares of Southern from $80.00 to $87.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. Finally, Morgan Stanley raised their price objective on shares of Southern from $78.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.07.

Southern Company 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.