Huntington National Bank Has $23.28 Million Stock Position in Southern Company (The) $SO

Huntington National Bank boosted its holdings in shares of Southern Company (The) (NYSE:SO) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 266,943 shares of the utilities provider’s stock after buying an additional 5,732 shares during the period. Huntington National Bank’s holdings in Southern were worth $23,277,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SO. Empowered Funds LLC raised its position in Southern by 17.5% during the first quarter. Empowered Funds LLC now owns 34,003 shares of the utilities provider’s stock valued at $3,127,000 after buying an additional 5,067 shares during the period. Schnieders Capital Management LLC. raised its position in Southern by 0.7% during the second quarter. Schnieders Capital Management LLC. now owns 59,217 shares of the utilities provider’s stock valued at $5,438,000 after buying an additional 393 shares during the period. WINTON GROUP Ltd acquired a new position in Southern during the second quarter valued at $655,000. Sei Investments Co. raised its position in Southern by 11.5% during the second quarter. Sei Investments Co. now owns 449,960 shares of the utilities provider’s stock valued at $41,320,000 after buying an additional 46,504 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Southern by 2.7% during the second quarter. Treasurer of the State of North Carolina now owns 514,736 shares of the utilities provider’s stock worth $47,268,000 after acquiring an additional 13,392 shares in the last quarter. 64.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on SO shares. Jefferies Financial Group reiterated a “hold” rating and set a $102.00 price objective on shares of Southern in a report on Monday, February 23rd. Barclays increased their price objective on Southern from $88.00 to $99.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Morgan Stanley reiterated an “underweight” rating and set a $87.00 price objective on shares of Southern in a report on Thursday, May 21st. Truist Financial started coverage on Southern in a report on Tuesday, April 21st. They set a “hold” rating and a $103.00 price objective for the company. Finally, Weiss Ratings upgraded Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $99.56.

Insider Activity

In other news, CEO Kimberly S. Greene sold 25,000 shares of the business’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $96.67, for a total value of $2,416,750.00. Following the completion of the sale, the chief executive officer directly owned 103,602 shares in the company, valued at approximately $10,015,205.34. The trade was a 19.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christopher Cummiskey sold 6,669 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $96.55, for a total transaction of $643,891.95. Following the completion of 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 SEC filing for this sale provides additional information. 0.16% of the stock is owned by company insiders.

Southern Price Performance

Shares of NYSE:SO opened at $93.72 on Thursday. Southern Company has a 1 year low of $83.80 and a 1 year high of $100.83. The business has a fifty day simple moving average of $94.82 and a 200 day simple moving average of $91.83. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68. The firm has a market cap of $105.66 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 2.84 and a beta of 0.36.

Southern (NYSE:SO) last posted its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.11. Southern had a return on equity of 12.64% and a net margin of 14.46%.The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same period last year, the company earned $1.23 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that Southern Company will post 4.57 earnings per share for the current fiscal year.

Southern Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, May 18th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.2%. This is an increase from Southern’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, May 18th. Southern’s dividend payout ratio is 77.35%.

Southern Profile

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.