Home Federal Bank of Tennessee Has $662,000 Stake in The Southern Company (NYSE:SO)

Home Federal Bank of Tennessee increased its stake in shares of The Southern Company (NYSE:SOGet Rating) by 3.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 9,275 shares of the utilities provider’s stock after acquiring an additional 350 shares during the period. Home Federal Bank of Tennessee’s holdings in Southern were worth $662,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Landmark Wealth Management LLC acquired a new stake in Southern in the 1st quarter valued at approximately $25,000. IndexIQ Advisors LLC acquired a new stake in Southern in the 1st quarter valued at approximately $25,000. Rise Advisors LLC acquired a new stake in Southern in the 4th quarter valued at approximately $34,000. Hardy Reed LLC acquired a new stake in Southern in the 1st quarter valued at approximately $36,000. Finally, Western Pacific Wealth Management LP acquired a new stake in Southern in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 62.20% of the company’s stock.

Southern Price Performance

SO traded down $1.00 during trading on Friday, hitting $74.94. The company’s stock had a trading volume of 115,686 shares, compared to its average volume of 3,439,184. The firm’s 50 day moving average price is $77.03 and its two-hundred day moving average price is $74.00. The company has a quick ratio of 0.67, a current ratio of 0.85 and a debt-to-equity ratio of 1.55. The Southern Company has a 12 month low of $60.99 and a 12 month high of $80.57. The stock has a market capitalization of $79.66 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 5.24 and a beta of 0.50.

Southern (NYSE:SOGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.23. Southern had a return on equity of 12.09% and a net margin of 12.13%. The firm had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. Sell-side analysts forecast that The Southern Company will post 3.63 earnings per share for the current fiscal year.

Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 15th were given a $0.68 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $2.72 annualized dividend and a yield of 3.63%. Southern’s payout ratio is 95.77%.

Insider Buying and Selling at Southern

In other news, CEO Stephen E. Kuczynski sold 14,500 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $72.92, for a total transaction of $1,057,340.00. Following the completion of the sale, the chief executive officer now owns 115,284 shares in the company, valued at $8,406,509.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP James Y. Kerr II sold 25,000 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $76.00, for a total transaction of $1,900,000.00. Following the completion of the sale, the executive vice president now owns 136,987 shares in the company, valued at $10,411,012. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Stephen E. Kuczynski sold 14,500 shares of Southern stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $72.92, for a total value of $1,057,340.00. Following the sale, the chief executive officer now directly owns 115,284 shares of the company’s stock, valued at $8,406,509.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,000 shares of company stock worth $4,109,655. 0.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

SO has been the topic of several recent research reports. Guggenheim lifted their price objective on Southern from $76.00 to $80.00 in a report on Thursday, July 21st. Seaport Res Ptn reissued a “buy” rating on shares of Southern in a report on Thursday, June 30th. Argus lifted their price objective on Southern from $83.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, September 14th. BMO Capital Markets decreased their price objective on Southern from $81.00 to $70.00 and set a “market perform” rating on the stock in a report on Wednesday, June 22nd. Finally, The Goldman Sachs Group lifted their price objective on Southern from $53.00 to $61.00 and gave the stock a “sell” rating in a report on Monday, August 22nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $75.58.

Southern 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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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