Weybosset Research & Management LLC Invests $210,000 in Southern Co (NYSE:SO)

Weybosset Research & Management LLC acquired a new position in shares of Southern Co (NYSE:SO) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,800 shares of the utilities provider’s stock, valued at approximately $210,000.

Several other large investors have also added to or reduced their stakes in the company. AE Wealth Management LLC boosted its position in shares of Southern by 14.5% during the 2nd quarter. AE Wealth Management LLC now owns 125,153 shares of the utilities provider’s stock worth $6,918,000 after acquiring an additional 15,834 shares in the last quarter. Cornell Pochily Investment Advisors Inc. boosted its position in shares of Southern by 1.7% during the 2nd quarter. Cornell Pochily Investment Advisors Inc. now owns 18,718 shares of the utilities provider’s stock worth $1,035,000 after acquiring an additional 321 shares in the last quarter. Alpha Cubed Investments LLC boosted its position in shares of Southern by 44.7% during the 2nd quarter. Alpha Cubed Investments LLC now owns 11,813 shares of the utilities provider’s stock worth $653,000 after acquiring an additional 3,649 shares in the last quarter. Marino Stram & Associates LLC lifted its holdings in shares of Southern by 107.4% in the 2nd quarter. Marino Stram & Associates LLC now owns 4,386 shares of the utilities provider’s stock valued at $242,000 after purchasing an additional 2,271 shares during the last quarter. Finally, Davy Asset Management Ltd purchased a new stake in shares of Southern in the 2nd quarter valued at about $429,000. 56.61% of the stock is owned by institutional investors and hedge funds.

Shares of Southern stock traded up $0.86 on Thursday, hitting $57.06. The stock had a trading volume of 4,129,484 shares, compared to its average volume of 3,290,126. Southern Co has a 52-week low of $42.50 and a 52-week high of $57.08. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 1.37. The firm has a market cap of $58.46 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 4.12 and a beta of 0.20. The business has a 50 day moving average price of $55.72.

Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.08. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.12 billion. Southern had a return on equity of 10.37% and a net margin of 15.03%. The firm’s revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 EPS. As a group, research analysts predict that Southern Co will post 3.02 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Monday, August 19th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend is Friday, August 16th. Southern’s dividend payout ratio is presently 80.78%.

Several analysts have recently weighed in on SO shares. KeyCorp started coverage on Southern in a report on Tuesday, June 4th. They issued a “sector weight” rating for the company. Bank of America reduced their target price on Southern from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday. ValuEngine raised Southern from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Zacks Investment Research downgraded Southern from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Finally, Mizuho boosted their target price on Southern from $48.50 to $55.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. Southern currently has a consensus rating of “Hold” and a consensus price target of $51.36.

In other Southern news, CEO Stephen E. Kuczynski sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $53.50, for a total transaction of $107,000.00. Following the completion of the sale, the chief executive officer now directly owns 75,772 shares of the company’s stock, valued at approximately $4,053,802. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark A. Crosswhite sold 267,442 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $54.42, for a total value of $14,554,193.64. Following the sale, the chief executive officer now directly owns 125,727 shares of the company’s stock, valued at $6,842,063.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 750,397 shares of company stock valued at $41,266,682. 0.88% of the stock is owned by company insiders.

Southern 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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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