The Southern Company (NYSE:SO) Shares Sold by Asset Planning Corporation

Asset Planning Corporation cut its position in shares of The Southern Company (NYSE:SO) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,235 shares of the utilities provider’s stock after selling 165 shares during the quarter. Southern comprises 0.4% of Asset Planning Corporation’s portfolio, making the stock its 29th biggest position. Asset Planning Corporation’s holdings in Southern were worth $596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SO. Retirement Wealth Solutions LLC acquired a new stake in shares of Southern in the fourth quarter valued at about $25,000. Frazier Financial Advisors LLC grew its stake in shares of Southern by 168.1% in the third quarter. Frazier Financial Advisors LLC now owns 311 shares of the utilities provider’s stock valued at $28,000 after buying an additional 195 shares in the last quarter. West Branch Capital LLC grew its stake in shares of Southern by 34.7% in the third quarter. West Branch Capital LLC now owns 501 shares of the utilities provider’s stock valued at $45,000 after buying an additional 129 shares in the last quarter. Quarry LP acquired a new stake in shares of Southern in the third quarter valued at about $49,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of Southern in the third quarter valued at about $49,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Trading Down 1.2 %

NYSE:SO opened at $83.91 on Friday. The Southern Company has a 12-month low of $65.80 and a 12-month high of $94.45. The firm has a market capitalization of $91.93 billion, a P/E ratio of 19.51, a P/E/G ratio of 2.83 and a beta of 0.52. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.91 and a quick ratio of 0.66. The business has a 50 day simple moving average of $83.92 and a 200 day simple moving average of $86.60.

Southern (NYSE:SO) last announced its earnings results on Thursday, October 31st. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.10. The firm had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $7.14 billion. Southern had a return on equity of 12.78% and a net margin of 17.87%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 EPS. Equities research analysts predict that The Southern Company will post 4.05 EPS for the current year.

Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Tuesday, February 18th. Southern’s payout ratio is currently 66.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SO shares. Guggenheim lowered Southern from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Barclays increased their price target on Southern from $71.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. BMO Capital Markets reduced their price target on Southern from $99.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Scotiabank increased their price target on Southern from $96.00 to $98.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Finally, Morgan Stanley reduced their target price on Southern from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $90.14.

Insider Buying and Selling at Southern

In other news, EVP Martin Bernard Davis sold 1,170 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $85.90, for a total value of $100,503.00. Following the sale, the executive vice president now owns 88,393 shares of the company’s stock, valued at approximately $7,592,958.70. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by company insiders.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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, gas distribution operations, and gas pipeline investments operations.