AdvisorNet Financial Inc Has $539,000 Stock Holdings in The Southern Company (NYSE:SO)

AdvisorNet Financial Inc lowered its position in shares of The Southern Company (NYSE:SOFree Report) by 14.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,687 shares of the utilities provider’s stock after selling 1,341 shares during the quarter. AdvisorNet Financial Inc’s holdings in Southern were worth $539,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SO. Rockline Wealth Management LLC acquired a new stake in Southern in the fourth quarter valued at $1,945,000. Bollard Group LLC grew its holdings in Southern by 1.0% during the second quarter. Bollard Group LLC now owns 431,500 shares of the utilities provider’s stock worth $30,313,000 after purchasing an additional 4,082 shares during the period. Cullinan Associates Inc. increased its position in Southern by 200.9% during the third quarter. Cullinan Associates Inc. now owns 76,227 shares of the utilities provider’s stock worth $4,933,000 after buying an additional 50,897 shares during the last quarter. Zullo Investment Group Inc. raised its stake in Southern by 4.8% in the fourth quarter. Zullo Investment Group Inc. now owns 3,437 shares of the utilities provider’s stock valued at $241,000 after buying an additional 157 shares during the period. Finally, Global Retirement Partners LLC lifted its position in shares of Southern by 5.8% in the fourth quarter. Global Retirement Partners LLC now owns 14,856 shares of the utilities provider’s stock valued at $1,045,000 after buying an additional 819 shares during the last quarter. 64.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SO shares. Citigroup began coverage on shares of Southern in a report on Friday, December 8th. They issued a “buy” rating and a $82.00 price objective on the stock. Barclays cut their price objective on shares of Southern from $68.00 to $67.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 17th. Wells Fargo & Company decreased their target price on Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. BMO Capital Markets restated an “outperform” rating and issued a $76.00 price target (up from $72.00) on shares of Southern in a research note on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $80.00 target price on shares of Southern in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $73.77.

Get Our Latest Analysis on Southern

Southern Stock Down 0.9 %

Shares of NYSE:SO opened at $71.10 on Tuesday. The business has a fifty day simple moving average of $68.54 and a 200 day simple moving average of $68.89. The Southern Company has a 12-month low of $61.56 and a 12-month high of $75.80. The firm has a market cap of $77.57 billion, a P/E ratio of 19.59, a P/E/G ratio of 4.48 and a beta of 0.49. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 1.62.

Southern (NYSE:SOGet Free Report) last posted its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Southern had a net margin of 15.79% and a return on equity of 11.40%. The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the prior year, the firm posted $0.26 EPS. The company’s quarterly revenue was down 14.2% on a year-over-year basis. Analysts predict that The Southern Company will post 4 earnings per share for the current year.

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.94%. Southern’s dividend payout ratio (DPR) is presently 77.14%.

Insider Activity

In other Southern news, insider David P. Poroch sold 10,099 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $69.96, for a total transaction of $706,526.04. Following the transaction, the insider now owns 28,691 shares in the company, valued at $2,007,222.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $71.99, for a total transaction of $359,950.00. Following the completion of the sale, the chief executive officer now owns 101,284 shares in the company, valued at $7,291,435.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David P. Poroch sold 10,099 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $69.96, for a total value of $706,526.04. Following the transaction, the insider now owns 28,691 shares in the company, valued at $2,007,222.36. The disclosure for this sale can be found here. Insiders sold a total of 25,998 shares of company stock worth $1,806,063 over the last quarter. 0.37% of the stock is currently owned by corporate insiders.

Southern Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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