Carlton Hofferkamp & Jenks Wealth Management LLC acquired a new stake in shares of Southern Co (NYSE:SO) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,883 shares of the utilities provider’s stock, valued at approximately $304,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sontag Advisory LLC purchased a new stake in Southern during the fourth quarter valued at approximately $25,000. Vigilant Capital Management LLC purchased a new stake in Southern during the fourth quarter valued at approximately $30,000. Parkside Financial Bank & Trust increased its holdings in Southern by 38.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 798 shares of the utilities provider’s stock valued at $35,000 after buying an additional 220 shares during the last quarter. Liberty Wealth Management LLC purchased a new stake in Southern during the fourth quarter valued at approximately $35,000. Finally, Gemmer Asset Management LLC increased its holdings in Southern by 58.0% during the first quarter. Gemmer Asset Management LLC now owns 681 shares of the utilities provider’s stock valued at $35,000 after buying an additional 250 shares during the last quarter. 56.89% of the stock is owned by hedge funds and other institutional investors.
Shares of SO traded down $0.05 during mid-day trading on Monday, reaching $51.91. The stock had a trading volume of 66,551 shares, compared to its average volume of 4,313,748. The firm has a market cap of $54.14 billion, a P/E ratio of 16.93, a PEG ratio of 3.82 and a beta of 0.20. Southern Co has a 12 month low of $42.42 and a 12 month high of $52.98. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.67 and a quick ratio of 0.54.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Monday, May 20th will be given a $0.62 dividend. This is a positive change from Southern’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Friday, May 17th. Southern’s dividend payout ratio is presently 78.18%.
In related news, CEO William P. Bowers sold 233,477 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $51.29, for a total transaction of $11,975,035.33. Following the completion of the transaction, the chief executive officer now owns 354,212 shares in the company, valued at $18,167,533.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William P. Bowers sold 90,942 shares of the company’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $48.60, for a total transaction of $4,419,781.20. Following the transaction, the chief executive officer now owns 177,043 shares of the company’s stock, valued at approximately $8,604,289.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,341 shares of company stock valued at $19,342,988. 0.73% of the stock is owned by company insiders.
SO has been the subject of a number of research reports. Guggenheim reaffirmed a “hold” rating and set a $44.00 target price on shares of Southern in a report on Monday, January 7th. SunTrust Banks reaffirmed a “hold” rating and set a $47.00 target price on shares of Southern in a report on Monday, January 7th. reaffirmed a “sell” rating on shares of Southern in a report on Wednesday, February 13th. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Saturday, January 5th. Finally, Citigroup upgraded shares of Southern from a “sell” rating to a “neutral” rating and upped their price target for the stock from $45.00 to $50.00 in a research report on Thursday, January 24th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. Southern has an average rating of “Hold” and an average price target of $47.15.
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.
Featured Story: How to Profit and Limit Losses With Stop Orders
Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Co (NYSE:SO).
Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.