Exchange Traded Concepts LLC Acquires 114,601 Shares of Southern Company (The) $SO

Exchange Traded Concepts LLC increased its holdings in Southern Company (The) (NYSE:SO) by 73.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 270,321 shares of the utilities provider’s stock after purchasing an additional 114,601 shares during the period. Exchange Traded Concepts LLC’s holdings in Southern were worth $23,572,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Gladstone Institutional Advisory LLC boosted its position in Southern by 0.5% during the third quarter. Gladstone Institutional Advisory LLC now owns 21,461 shares of the utilities provider’s stock valued at $2,034,000 after buying an additional 105 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Southern by 0.7% during the third quarter. Venturi Wealth Management LLC now owns 15,230 shares of the utilities provider’s stock valued at $1,443,000 after buying an additional 105 shares during the last quarter. Highline Wealth Partners LLC increased its holdings in shares of Southern by 0.7% in the third quarter. Highline Wealth Partners LLC now owns 15,667 shares of the utilities provider’s stock worth $1,485,000 after buying an additional 106 shares during the period. Sara Bay Financial increased its holdings in shares of Southern by 2.7% in the third quarter. Sara Bay Financial now owns 4,133 shares of the utilities provider’s stock worth $392,000 after buying an additional 108 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its stake in shares of Southern by 2.1% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 5,155 shares of the utilities provider’s stock valued at $489,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 64.10% of the company’s stock.

Southern Stock Up 0.1%

Shares of NYSE:SO opened at $95.51 on Friday. The firm has a market capitalization of $105.17 billion, a P/E ratio of 24.30, a P/E/G ratio of 2.88 and a beta of 0.44. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.47 and a current ratio of 0.65. The stock has a 50 day moving average price of $93.42 and a 200-day moving average price of $91.83. Southern Company has a 52-week low of $83.09 and a 52-week high of $100.83.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, February 18th. The utilities provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). The firm had revenue of $6.98 billion during the quarter, compared to analysts’ expectations of $6.41 billion. Southern had a return on equity of 12.52% and a net margin of 14.69%.Southern’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. As a group, equities research analysts anticipate that Southern Company will post 4.29 EPS for the current fiscal year.

Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Tuesday, February 17th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, February 17th. Southern’s dividend payout ratio (DPR) is 75.32%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SO. Weiss Ratings restated a “buy (b)” rating on shares of Southern in a report on Wednesday, January 21st. BMO Capital Markets restated an “outperform” rating on shares of Southern in a research report on Friday, February 20th. Jefferies Financial Group reiterated a “hold” rating and set a $102.00 target price on shares of Southern in a report on Monday, February 23rd. UBS Group decreased their target price on Southern from $98.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Finally, Wells Fargo & Company set a $96.00 price target on Southern and gave the stock an “equal weight” rating in a research note on Friday, February 20th. Six investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Southern currently has a consensus rating of “Hold” and a consensus price target of $98.08.

Insider Transactions at Southern

In related news, EVP Christopher Cummiskey sold 6,669 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $96.55, for a total transaction of $643,891.95. Following the sale, the executive vice president owned 30,800 shares of the company’s stock, valued at $2,973,740. The trade was a 17.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by company insiders.

About Southern

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.