United Bank Has $4.66 Million Position in The Southern Company (NYSE:SO)

United Bank trimmed its position in The Southern Company (NYSE:SO) by 8.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 51,624 shares of the utilities provider’s stock after selling 4,884 shares during the period. Southern makes up 2.1% of United Bank’s portfolio, making the stock its 14th biggest holding. United Bank’s holdings in Southern were worth $4,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. West Branch Capital LLC raised its holdings in Southern by 34.7% in the 3rd quarter. West Branch Capital LLC now owns 501 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 129 shares in the last quarter. TruNorth Capital Management LLC bought a new position in Southern in the 2nd quarter valued at approximately $39,000. Cedar Wealth Management LLC grew its stake in shares of Southern by 63.2% during the first quarter. Cedar Wealth Management LLC now owns 545 shares of the utilities provider’s stock worth $39,000 after buying an additional 211 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Southern in the 1st quarter valued at $39,000. Finally, Versant Capital Management Inc grew its position in Southern by 31.8% during the 2nd quarter. Versant Capital Management Inc now owns 585 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 141 shares during the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Performance

Shares of SO stock opened at $88.64 on Friday. The Southern Company has a 12 month low of $65.80 and a 12 month high of $94.45. The firm has a market capitalization of $97.12 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 3.11 and a beta of 0.52. The firm has a fifty day simple moving average of $89.93 and a two-hundred day simple moving average of $83.75. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66.

Southern (NYSE:SO) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.10. Southern had a net margin of 17.87% and a return on equity of 12.78%. The business had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $7.14 billion. During the same quarter last year, the firm earned $1.42 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts forecast that The Southern Company will post 4.04 EPS for the current fiscal year.

Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Monday, November 18th. Southern’s dividend payout ratio (DPR) is presently 66.98%.

Analysts Set New Price Targets

Several analysts have recently weighed in on SO shares. Scotiabank boosted their price target on Southern from $87.00 to $96.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Guggenheim lifted their price target on shares of Southern from $93.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley upped their price target on Southern from $78.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. BMO Capital Markets lowered their price objective on Southern from $99.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Southern from $80.00 to $87.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $89.27.

Insiders Place Their Bets

In other news, EVP Bryan D. Anderson sold 6,565 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $89.54, for a total value of $587,830.10. Following the completion of the sale, the executive vice president now owns 44,467 shares in the company, valued at $3,981,575.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Southern news, CEO James Y. Kerr II sold 30,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $89.64, for a total value of $2,689,200.00. Following the completion of the transaction, the chief executive officer now owns 145,088 shares in the company, valued at $13,005,688.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan D. Anderson sold 6,565 shares of Southern stock in a transaction on Friday, September 6th. The stock was sold at an average price of $89.54, for a total value of $587,830.10. Following the sale, the executive vice president now owns 44,467 shares in the company, valued at $3,981,575.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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, gas distribution operations, and gas pipeline investments operations.