Eventide Asset Management LLC Has $9.69 Million Stake in Southern Company (The) $SO

Eventide Asset Management LLC decreased its position in Southern Company (The) (NYSE:SO) by 72.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 110,842 shares of the utilities provider’s stock after selling 295,557 shares during the period. Eventide Asset Management LLC’s holdings in Southern were worth $9,688,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Gentry Private Wealth LLC lifted its holdings in Southern by 2.3% in the third quarter. Gentry Private Wealth LLC now owns 4,991 shares of the utilities provider’s stock valued at $473,000 after buying an additional 114 shares during the period. Cassaday & Co Wealth Management LLC increased its stake in Southern by 0.9% in the third quarter. Cassaday & Co Wealth Management LLC now owns 12,534 shares of the utilities provider’s stock valued at $1,188,000 after purchasing an additional 116 shares in the last quarter. Accredited Investors Inc. increased its stake in Southern by 5.2% in the fourth quarter. Accredited Investors Inc. now owns 2,446 shares of the utilities provider’s stock valued at $213,000 after purchasing an additional 120 shares in the last quarter. Jacobi Capital Management LLC increased its stake in Southern by 0.4% in the third quarter. Jacobi Capital Management LLC now owns 28,741 shares of the utilities provider’s stock valued at $2,724,000 after purchasing an additional 121 shares in the last quarter. Finally, Patton Fund Management Inc. increased its stake in Southern by 5.0% in the fourth quarter. Patton Fund Management Inc. now owns 2,556 shares of the utilities provider’s stock valued at $223,000 after purchasing an additional 121 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Trading Down 0.1%

Shares of SO stock opened at $93.90 on Monday. Southern Company has a 52-week low of $83.80 and a 52-week high of $100.83. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.65. The company has a 50-day simple moving average of $93.95 and a two-hundred day simple moving average of $91.97. The company has a market capitalization of $105.85 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 2.84 and a beta of 0.34.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.11. Southern had a net margin of 14.46% and a return on equity of 12.64%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the prior year, the firm posted $1.23 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. Research analysts anticipate that Southern Company will post 4.58 EPS for the current fiscal year.

Southern Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $102.00 price target on shares of Southern in a research note on Monday, February 23rd. Barclays lifted their price target on shares of Southern from $88.00 to $99.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Southern in a research note on Friday, February 20th. Citigroup reaffirmed a “buy” rating on shares of Southern in a research note on Friday, April 10th. Finally, Truist Financial decreased their price target 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. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $99.38.

Insider Transactions at Southern

In other Southern news, CEO Kimberly S. Greene sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 103,602 shares in the company, valued at $10,015,205.34. The trade was a 19.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the executive vice president owned 30,800 shares in the company, valued at approximately $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 insiders.

Southern Company 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.