United Capital Financial Advisers LLC Raises Position in Southern Co (NYSE:SO)

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United Capital Financial Advisers LLC grew its position in Southern Co (NYSE:SO) by 4.9% during the 2nd quarter, Holdings Channel reports. The fund owned 379,750 shares of the utilities provider’s stock after buying an additional 17,807 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Southern were worth $20,993,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the company. Pettyjohn Wood & White Inc. lifted its stake in shares of Southern by 0.3% in the second quarter. Pettyjohn Wood & White Inc. now owns 60,890 shares of the utilities provider’s stock valued at $3,366,000 after purchasing an additional 175 shares during the period. Confluence Wealth Management LLC lifted its stake in shares of Southern by 2.2% in the second quarter. Confluence Wealth Management LLC now owns 8,047 shares of the utilities provider’s stock valued at $445,000 after purchasing an additional 175 shares during the period. 6 Meridian lifted its stake in shares of Southern by 1.8% in the second quarter. 6 Meridian now owns 10,278 shares of the utilities provider’s stock valued at $568,000 after purchasing an additional 181 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Southern by 0.8% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,452 shares of the utilities provider’s stock valued at $1,296,000 after purchasing an additional 186 shares during the period. Finally, Western Wealth Management LLC lifted its stake in shares of Southern by 3.4% in the first quarter. Western Wealth Management LLC now owns 5,833 shares of the utilities provider’s stock valued at $307,000 after purchasing an additional 193 shares during the period. 58.39% of the stock is currently owned by institutional investors and hedge funds.

SO traded down $0.09 during midday trading on Friday, reaching $59.90. 350,839 shares of the company’s stock were exchanged, compared to its average volume of 5,475,518. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.76 and a quick ratio of 0.59. The stock has a market capitalization of $61.58 billion, a PE ratio of 19.45, a P/E/G ratio of 4.32 and a beta of 0.17. The business’s 50-day moving average price is $57.74 and its 200 day moving average price is $54.41. Southern Co has a 1-year low of $42.50 and a 1-year high of $60.65.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, August 19th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend was Friday, August 16th. Southern’s payout ratio is currently 80.78%.

In other Southern news, CEO Stephen E. Kuczynski sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $56.00, for a total transaction of $112,000.00. Following the completion of the sale, the chief executive officer now directly owns 73,772 shares in the company, valued at $4,131,232. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James Y. Kerr II sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $60.16, for a total transaction of $1,504,000.00. Following the sale, the executive vice president now owns 67,655 shares of the company’s stock, valued at $4,070,124.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 257,121 shares of company stock valued at $14,572,063. 0.88% of the stock is currently owned by company insiders.

Several brokerages recently commented on SO. Mizuho raised their price objective on shares of Southern from $48.50 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, June 13th. KeyCorp began coverage on shares of Southern in a research note on Tuesday, June 4th. They issued a “sector weight” rating for the company. Barclays reiterated a “hold” rating and issued a $57.00 price objective on shares of Southern in a research note on Wednesday, June 19th. Morgan Stanley reduced their price objective on shares of Southern from $55.00 to $54.00 and set an “underweight” rating for the company in a research note on Friday, August 16th. Finally, SunTrust Banks set a $59.00 price objective on shares of Southern and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $55.70.

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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