Southern Co (NYSE:SO) Shares Bought by Quadrant Capital Group LLC

Quadrant Capital Group LLC raised its stake in Southern Co (NYSE:SO) by 138.8% in the second quarter, HoldingsChannel.com reports. The fund owned 4,219 shares of the utilities provider’s stock after buying an additional 2,452 shares during the quarter. Quadrant Capital Group LLC’s holdings in Southern were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Thor Advisors LLC acquired a new position in shares of Southern during the first quarter worth approximately $26,000. Tompkins Financial Corp acquired a new position in shares of Southern during the first quarter worth approximately $28,000. Lee Financial Co boosted its position in shares of Southern by 144.4% during the first quarter. Lee Financial Co now owns 550 shares of the utilities provider’s stock worth $28,000 after buying an additional 325 shares during the period. Ellis Investment Partners LLC acquired a new stake in Southern in the first quarter worth approximately $29,000. Finally, Gemmer Asset Management LLC lifted its position in Southern by 58.0% in the first quarter. Gemmer Asset Management LLC now owns 681 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 250 shares during the period. Institutional investors own 56.59% of the company’s stock.

A number of equities research analysts have weighed in on the company. Barclays restated a “hold” rating and issued a $57.00 target price on shares of Southern in a research report on Wednesday, June 19th. Credit Suisse Group set a $51.00 target price on Southern and gave the stock a “sell” rating in a research report on Monday, April 22nd. Zacks Investment Research downgraded Southern from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. ValuEngine downgraded Southern from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Bank of America cut their target price on Southern from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $51.36.

In other Southern news, insider Ann P. Daiss sold 3,786 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $54.42, for a total value of $206,034.12. Following the transaction, the insider now owns 13,798 shares of the company’s stock, valued at $750,887.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen E. Kuczynski sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $56.00, for a total value of $112,000.00. Following the completion of the transaction, the chief executive officer now directly owns 73,772 shares in the company, valued at approximately $4,131,232. The disclosure for this sale can be found here. Insiders sold 750,397 shares of company stock worth $41,266,682 in the last ninety days. 0.88% of the stock is owned by corporate insiders.

SO traded up $0.34 during trading on Tuesday, reaching $56.27. The stock had a trading volume of 1,033,357 shares, compared to its average volume of 4,088,335. The stock has a market cap of $58.08 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 4.20 and a beta of 0.18. Southern Co has a 1-year low of $42.50 and a 1-year high of $57.75. The stock has a 50 day simple moving average of $55.89. The company has a quick ratio of 0.59, a current ratio of 0.76 and a debt-to-equity ratio of 1.33.

Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.08. The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.12 billion. Southern had a return on equity of 10.04% and a net margin of 20.18%. The firm’s revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 earnings per share. As a group, equities research analysts expect that Southern Co will post 3.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Monday, August 19th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.48 annualized dividend and a dividend yield of 4.41%. Southern’s dividend payout ratio is currently 80.78%.

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.

Further Reading: Channel Trading

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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