Keybank National Association OH Has $8.87 Million Stake in Southern Co (SO)

Keybank National Association OH lifted its holdings in shares of Southern Co (NYSE:SO) by 0.3% in the first quarter, HoldingsChannel.com reports. The fund owned 171,649 shares of the utilities provider’s stock after purchasing an additional 498 shares during the quarter. Keybank National Association OH’s holdings in Southern were worth $8,871,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SO. Webster Bank N. A. raised its stake in shares of Southern by 15.3% in the first quarter. Webster Bank N. A. now owns 1,509 shares of the utilities provider’s stock worth $78,000 after acquiring an additional 200 shares during the last quarter. Home Federal Bank of Tennessee raised its stake in shares of Southern by 1.4% in the first quarter. Home Federal Bank of Tennessee now owns 14,242 shares of the utilities provider’s stock worth $736,000 after acquiring an additional 200 shares during the last quarter. Resources Management Corp CT ADV raised its stake in shares of Southern by 1.8% in the fourth quarter. Resources Management Corp CT ADV now owns 11,261 shares of the utilities provider’s stock worth $494,000 after acquiring an additional 201 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Southern by 1.3% in the first quarter. Victory Capital Management Inc. now owns 15,156 shares of the utilities provider’s stock worth $783,000 after acquiring an additional 201 shares during the last quarter. Finally, Delta Asset Management LLC TN raised its stake in shares of Southern by 1.1% in the fourth quarter. Delta Asset Management LLC TN now owns 18,260 shares of the utilities provider’s stock worth $802,000 after acquiring an additional 205 shares during the last quarter. 56.69% of the stock is owned by institutional investors.

A number of brokerages have weighed in on SO. SunTrust Banks reaffirmed a “hold” rating and issued a $52.00 target price on shares of Southern in a research note on Monday, February 25th. Citigroup raised shares of Southern from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $45.00 to $50.00 in a research note on Thursday, January 24th. reaffirmed a “sell” rating on shares of Southern in a research note on Wednesday, February 13th. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Monday. Finally, ValuEngine downgraded shares of Southern from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. Southern currently has an average rating of “Hold” and an average price target of $48.23.

Shares of NYSE:SO opened at $54.11 on Thursday. Southern Co has a one year low of $42.50 and a one year high of $54.44. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 1.37. The company has a market cap of $56.14 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 3.96 and a beta of 0.21.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. Southern had a net margin of 15.03% and a return on equity of 10.37%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter in the previous year, the company earned $0.88 EPS. Southern’s revenue was down 15.1% on a year-over-year basis. As a group, equities research analysts forecast that Southern Co will post 3.03 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Monday, May 20th will be given a dividend of $0.62 per share. This is a boost from Southern’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, May 17th. This represents a $2.48 annualized dividend and a dividend yield of 4.58%. Southern’s payout ratio is currently 80.78%.

In other news, Director Henry A. Clark III acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was purchased at an average price of $50.19 per share, for a total transaction of $100,380.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at $100,380. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ann P. Daiss sold 7,850 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $54.06, for a total transaction of $424,371.00. Following the transaction, the insider now owns 17,862 shares of the company’s stock, valued at approximately $965,619.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 271,035 shares of company stock valued at $13,920,112. 0.73% of the stock is owned by corporate insiders.

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About Southern

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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Institutional Ownership by Quarter for Southern (NYSE:SO)

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