KMG Fiduciary Partners LLC Has $385,000 Stake in Southern Co (NYSE:SO)

KMG Fiduciary Partners LLC increased its holdings in shares of Southern Co (NYSE:SO) by 6.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,965 shares of the utilities provider’s stock after purchasing an additional 450 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Southern were worth $385,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Altfest L J & Co. Inc. lifted its stake in Southern by 3.8% in the second quarter. Altfest L J & Co. Inc. now owns 6,574 shares of the utilities provider’s stock valued at $363,000 after acquiring an additional 240 shares during the last quarter. Old Port Advisors bought a new position in shares of Southern in the first quarter valued at about $205,000. CENTRAL TRUST Co raised its position in shares of Southern by 4.0% in the second quarter. CENTRAL TRUST Co now owns 71,185 shares of the utilities provider’s stock valued at $4,021,000 after purchasing an additional 2,752 shares during the period. AE Wealth Management LLC raised its position in shares of Southern by 14.5% in the second quarter. AE Wealth Management LLC now owns 125,153 shares of the utilities provider’s stock valued at $6,918,000 after purchasing an additional 15,834 shares during the period. Finally, Wesbanco Bank Inc. raised its position in shares of Southern by 4.7% in the first quarter. Wesbanco Bank Inc. now owns 66,022 shares of the utilities provider’s stock valued at $3,412,000 after purchasing an additional 2,964 shares during the period. Institutional investors and hedge funds own 56.59% of the company’s stock.

NYSE:SO opened at $56.94 on Wednesday. Southern Co has a 52 week low of $42.50 and a 52 week high of $57.75. The company has a market capitalization of $59.67 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 4.20 and a beta of 0.18. The business’s 50-day simple moving average is $55.92. The company has a current ratio of 0.76, a quick ratio of 0.59 and a debt-to-equity ratio of 1.33.

Southern (NYSE:SO) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.72 by $0.08. Southern had a net margin of 20.18% and a return on equity of 10.04%. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same period last year, the firm earned $0.80 EPS. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. As a group, analysts anticipate that Southern Co will post 3.04 EPS for the current fiscal year.

The company also recently announced 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. This represents a $2.48 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Friday, August 16th. Southern’s dividend payout ratio is currently 80.78%.

In other Southern news, insider Ann P. Daiss sold 7,850 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $54.06, for a total value of $424,371.00. Following the transaction, the insider now directly owns 17,862 shares of the company’s stock, valued at approximately $965,619.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen E. Kuczynski sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $57.51, for a total transaction of $115,020.00. Following the completion of the transaction, the chief executive officer now directly owns 71,772 shares in the company, valued at $4,127,607.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 752,397 shares of company stock worth $41,381,702. Insiders own 0.88% of the company’s stock.

Several brokerages have recently weighed in on SO. KeyCorp began coverage on shares of Southern in a research report on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Barclays reissued a “hold” rating and issued a $57.00 price objective on shares of Southern in a research report on Wednesday, June 19th. Zacks Investment Research lowered shares of Southern from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. ValuEngine lowered shares of Southern from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Evercore ISI raised shares of Southern from an “in-line” rating to an “outperform” rating in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $51.36.

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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