Southern Company (The) $SO Shares Bought by Resources Management Corp CT ADV

Resources Management Corp CT ADV grew its stake in shares of Southern Company (The) (NYSE:SO) by 173.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,263 shares of the utilities provider’s stock after acquiring an additional 7,138 shares during the period. Resources Management Corp CT ADV’s holdings in Southern were worth $982,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SO. Empowered Funds LLC lifted its position in shares of Southern by 17.5% during the 1st quarter. Empowered Funds LLC now owns 34,003 shares of the utilities provider’s stock valued at $3,127,000 after acquiring an additional 5,067 shares during the period. Schnieders Capital Management LLC. increased its stake in shares of Southern by 0.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 59,217 shares of the utilities provider’s stock worth $5,438,000 after purchasing an additional 393 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Southern during the 2nd quarter worth approximately $655,000. Sei Investments Co. increased its stake in shares of Southern by 11.5% during the 2nd quarter. Sei Investments Co. now owns 449,960 shares of the utilities provider’s stock worth $41,320,000 after purchasing an additional 46,504 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of Southern by 2.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 514,736 shares of the utilities provider’s stock worth $47,268,000 after purchasing an additional 13,392 shares in the last quarter. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SO. KeyCorp raised shares of Southern from an “underweight” rating to a “sector weight” rating in a research note on Wednesday, March 4th. Truist Financial dropped their price objective on shares of Southern from $103.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, May 29th. TD Cowen raised their price objective on shares of Southern from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Weiss Ratings raised shares of Southern from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Finally, Evercore raised shares of Southern from an “in-line” rating to an “outperform” rating and set a $111.00 price objective for the company in a research note on Thursday, March 5th. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $99.38.

Southern Stock Down 0.1%

SO stock opened at $93.90 on Monday. The stock has a market capitalization of $105.85 billion, a P/E ratio of 23.89, a PEG ratio of 2.84 and a beta of 0.34. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.65. Southern Company has a one year low of $83.80 and a one year high of $100.83. The company has a 50 day moving average price of $93.95 and a two-hundred day moving average price of $91.97.

Southern (NYSE:SO) last released its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.21 by $0.11. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. Southern’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. As a group, sell-side analysts expect that Southern Company will post 4.58 EPS for the current year.

Southern Increases Dividend

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

Insider Activity at Southern

In other Southern news, EVP Christopher Cummiskey sold 6,669 shares of Southern stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $96.55, for a total value of $643,891.95. Following the completion of the sale, the executive vice president directly owned 30,800 shares of the company’s stock, valued at approximately $2,973,740. The trade was a 17.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kimberly S. Greene sold 25,000 shares of Southern stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the completion of the sale, the chief executive officer directly owned 103,602 shares of the company’s stock, valued at $10,015,205.34. The trade was a 19.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by insiders.

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.