Newbridge Financial Services Group Inc. Purchases 1,099 Shares of The Southern Company (NYSE:SO)

Newbridge Financial Services Group Inc. raised its holdings in The Southern Company (NYSE:SOGet Rating) by 35.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,242 shares of the utilities provider’s stock after purchasing an additional 1,099 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Southern were worth $303,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Home Federal Bank of Tennessee boosted its stake in shares of Southern by 3.9% in the 2nd quarter. Home Federal Bank of Tennessee now owns 9,275 shares of the utilities provider’s stock worth $662,000 after buying an additional 350 shares during the last quarter. HB Wealth Management LLC raised its stake in Southern by 21.8% in the second quarter. HB Wealth Management LLC now owns 158,532 shares of the utilities provider’s stock worth $11,305,000 after buying an additional 28,368 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Southern by 27.5% during the second quarter. Ritholtz Wealth Management now owns 11,286 shares of the utilities provider’s stock valued at $805,000 after purchasing an additional 2,434 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Southern by 7.6% during the second quarter. Rosenberg Matthew Hamilton now owns 4,884 shares of the utilities provider’s stock valued at $357,000 after buying an additional 344 shares during the last quarter. Finally, Juncture Wealth Strategies LLC boosted its holdings in Southern by 2.2% in the second quarter. Juncture Wealth Strategies LLC now owns 11,663 shares of the utilities provider’s stock worth $832,000 after purchasing an additional 252 shares during the last quarter. Institutional investors and hedge funds own 62.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SO. Seaport Res Ptn reiterated a “buy” rating on shares of Southern in a report on Thursday, June 30th. Guggenheim boosted their price target on shares of Southern from $76.00 to $80.00 in a report on Thursday, July 21st. The Goldman Sachs Group upped their price target on shares of Southern from $53.00 to $61.00 and gave the company a “sell” rating in a research note on Monday, August 22nd. Barclays dropped their price objective on shares of Southern from $82.00 to $79.00 and set an “overweight” rating on the stock in a report on Monday, July 18th. Finally, Morgan Stanley lowered their price target on shares of Southern from $69.00 to $68.00 and set an “underweight” rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $75.58.

Southern Price Performance

SO stock traded down $1.29 during trading on Friday, hitting $74.65. The stock had a trading volume of 121,550 shares, compared to its average volume of 3,439,184. The company’s 50 day moving average price is $77.03 and its two-hundred day moving average price is $74.00. The Southern Company has a 1-year low of $60.99 and a 1-year high of $80.57. The stock has a market cap of $79.35 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 5.24 and a beta of 0.50. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.67 and a current ratio of 0.85.

Southern (NYSE:SOGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The utilities provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.23. The company had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $5.31 billion. Southern had a net margin of 12.13% and a return on equity of 12.09%. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 EPS. On average, sell-side analysts forecast that The Southern Company will post 3.63 EPS for the current fiscal year.

Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 15th were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Friday, August 12th. Southern’s dividend payout ratio (DPR) is currently 95.77%.

Insider Activity

In related news, CEO Stephen E. Kuczynski sold 14,500 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $79.47, for a total transaction of $1,152,315.00. Following the transaction, the chief executive officer now directly owns 115,284 shares in the company, valued at $9,161,619.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP James Y. Kerr II sold 25,000 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $76.00, for a total transaction of $1,900,000.00. Following the transaction, the executive vice president now directly owns 136,987 shares of the company’s stock, valued at $10,411,012. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen E. Kuczynski sold 14,500 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $79.47, for a total value of $1,152,315.00. Following the transaction, the chief executive officer now directly owns 115,284 shares in the company, valued at $9,161,619.48. The disclosure for this sale can be found here. In the last three months, insiders sold 54,000 shares of company stock worth $4,109,655. 0.37% of the stock is currently owned by insiders.

Southern Company Profile

(Get Rating)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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