SignalPoint Asset Management LLC Trims Stock Holdings in The Southern Company (NYSE:SO)

SignalPoint Asset Management LLC trimmed its holdings in The Southern Company (NYSE:SOGet Rating) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,389 shares of the utilities provider’s stock after selling 197 shares during the period. SignalPoint Asset Management LLC’s holdings in Southern were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank bought a new position in Southern in the 4th quarter valued at $268,032,000. Millennium Management LLC boosted its holdings in Southern by 195.4% in the 4th quarter. Millennium Management LLC now owns 1,591,856 shares of the utilities provider’s stock valued at $109,169,000 after purchasing an additional 1,052,909 shares during the period. Panagora Asset Management Inc. boosted its holdings in Southern by 122.8% in the 4th quarter. Panagora Asset Management Inc. now owns 1,375,905 shares of the utilities provider’s stock valued at $94,360,000 after purchasing an additional 758,323 shares during the period. Stonegate Investment Group LLC bought a new position in Southern in the 4th quarter valued at $45,314,000. Finally, Renaissance Technologies LLC boosted its holdings in Southern by 25.7% in the 4th quarter. Renaissance Technologies LLC now owns 3,074,011 shares of the utilities provider’s stock valued at $210,816,000 after purchasing an additional 627,911 shares during the period. 60.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SO has been the subject of a number of research analyst reports. UBS Group raised shares of Southern from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $76.00 to $87.00 in a report on Thursday. Credit Suisse Group initiated coverage on shares of Southern in a report on Monday, April 25th. They set an “underperform” rating and a $77.00 price objective for the company. Barclays dropped their price objective on shares of Southern from $82.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Morgan Stanley dropped their price objective on shares of Southern from $67.00 to $66.00 and set an “underweight” rating for the company in a report on Monday, May 23rd. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of Southern in a report on Thursday, June 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $75.70.

Southern Trading Down 0.9 %

Southern stock traded down $0.70 during mid-day trading on Friday, hitting $77.27. The company’s stock had a trading volume of 4,136,366 shares, compared to its average volume of 4,410,230. The business has a 50 day moving average price of $72.20 and a 200-day moving average price of $71.21. The Southern Company has a 12 month low of $60.99 and a 12 month high of $78.78. The stock has a market cap of $82.14 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 5.40 and a beta of 0.50. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.85 and a quick ratio of 0.67.

Southern (NYSE:SOGet Rating) last released its quarterly earnings data on Thursday, July 28th. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.23. Southern had a net margin of 12.13% and a return on equity of 12.09%. The firm had revenue of $7.21 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter in the previous year, the company earned $0.84 earnings per share. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, analysts forecast that The Southern Company will post 3.61 EPS for the current year.

Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Monday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, August 12th. Southern’s payout ratio is 95.77%.

Insider Buying and Selling at Southern

In related news, EVP James Y. Kerr II sold 25,000 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $76.00, for a total transaction of $1,900,000.00. Following the transaction, the executive vice president now owns 136,987 shares in the company, valued at $10,411,012. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP James Y. Kerr II sold 25,000 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $76.00, for a total transaction of $1,900,000.00. Following the transaction, the executive vice president now owns 136,987 shares in the company, valued at $10,411,012. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen E. Kuczynski sold 14,500 shares of the business’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $72.08, for a total transaction of $1,045,160.00. Following the transaction, the chief executive officer now owns 115,284 shares in the company, valued at approximately $8,309,670.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,500 shares of company stock worth $5,083,910. 0.37% of the stock is currently owned by company insiders.

Southern Company Profile

(Get Rating)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects 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.

See Also

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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