Wealthspire Advisors LLC Sells 24,995 Shares of The Southern Company (NYSE:SO)

Wealthspire Advisors LLC lowered its stake in The Southern Company (NYSE:SO) by 83.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,907 shares of the utilities provider’s stock after selling 24,995 shares during the quarter. Wealthspire Advisors LLC’s holdings in The Southern were worth $297,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SO. E Fund Management Co. Ltd. bought a new stake in shares of The Southern during the 1st quarter valued at $115,000. Formidable Asset Management LLC boosted its holdings in shares of The Southern by 12.2% during the 1st quarter. Formidable Asset Management LLC now owns 4,039 shares of the utilities provider’s stock valued at $251,000 after buying an additional 439 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of The Southern by 18.2% during the 1st quarter. Prudential Financial Inc. now owns 1,040,041 shares of the utilities provider’s stock valued at $64,649,000 after buying an additional 160,229 shares in the last quarter. Haverford Trust Co. boosted its holdings in shares of The Southern by 4.8% during the 1st quarter. Haverford Trust Co. now owns 7,616 shares of the utilities provider’s stock valued at $473,000 after buying an additional 352 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its holdings in shares of The Southern by 59.3% during the 1st quarter. Cresset Asset Management LLC now owns 9,422 shares of the utilities provider’s stock valued at $585,000 after buying an additional 3,506 shares in the last quarter. Institutional investors and hedge funds own 59.30% of the company’s stock.

Shares of NYSE:SO opened at $62.51 on Thursday. The stock has a 50 day moving average of $64.78 and a 200 day moving average of $63.99. The company has a market cap of $66.19 billion, a PE ratio of 21.05, a price-to-earnings-growth ratio of 4.01 and a beta of 0.45. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.46. The Southern Company has a 12-month low of $56.69 and a 12-month high of $67.54.

The Southern (NYSE:SO) last announced its quarterly earnings data on Thursday, July 29th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.05. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5 billion. The Southern had a return on equity of 11.43% and a net margin of 14.47%. Equities research analysts predict that The Southern Company will post 3.35 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 7th. Shareholders of record on Monday, August 16th were paid a $0.66 dividend. The ex-dividend date of this dividend was Friday, August 13th. This represents a $2.64 annualized dividend and a yield of 4.22%. The Southern’s payout ratio is 81.23%.

In other The Southern news, CEO Stephen E. Kuczynski sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, October 8th. The stock was sold at an average price of $62.65, for a total value of $156,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Martin Bernard Davis sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $64.61, for a total value of $452,270.00. Following the sale, the executive vice president now directly owns 28,089 shares in the company, valued at $1,814,830.29. The disclosure for this sale can be found here. Insiders sold a total of 89,747 shares of company stock valued at $5,969,659 over the last 90 days. 0.43% of the stock is currently owned by corporate insiders.

Several research firms have recently issued reports on SO. Guggenheim raised The Southern from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Tuesday, September 7th. Wells Fargo & Company reissued a “buy” rating on shares of The Southern in a research report on Monday, August 2nd. Mizuho decreased their target price on The Southern from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Monday, October 4th. Finally, Morgan Stanley cut their price target on The Southern from $64.00 to $63.00 and set an “underweight” rating for the company in a research note on Friday, September 17th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $68.23.

The Southern Company Profile

The Southern Co is a holding company. The firm engages in the sale of electricity. It operates through the following segments: Traditional Electric Operating Companies, Southern Power and Southern Company Gas. The Traditional Electric Operating Companies segment refers to vertically integrated utilities that own generation, transmission and distribution facilities, and supplies electric services in the states of Alabama, Georgia, Florida, and Mississippi.

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Institutional Ownership by Quarter for The Southern (NYSE:SO)

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