Aveo Capital Partners LLC Purchases New Stake in The Southern Company (NYSE:SO)

Aveo Capital Partners LLC purchased a new stake in The Southern Company (NYSE:SOFree Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,318 shares of the utilities provider’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Insigneo Advisory Services LLC increased its holdings in shares of Southern by 3.1% in the third quarter. Insigneo Advisory Services LLC now owns 4,883 shares of the utilities provider’s stock valued at $316,000 after purchasing an additional 146 shares during the last quarter. Good Life Advisors LLC increased its stake in Southern by 0.8% during the fourth quarter. Good Life Advisors LLC now owns 19,956 shares of the utilities provider’s stock worth $1,399,000 after acquiring an additional 149 shares during the last quarter. Insight Inv LLC increased its stake in Southern by 1.4% during the fourth quarter. Insight Inv LLC now owns 10,530 shares of the utilities provider’s stock worth $738,000 after acquiring an additional 150 shares during the last quarter. Patten & Patten Inc. TN increased its stake in Southern by 0.7% during the fourth quarter. Patten & Patten Inc. TN now owns 20,736 shares of the utilities provider’s stock worth $1,454,000 after acquiring an additional 150 shares during the last quarter. Finally, CNB Bank increased its stake in Southern by 23.9% during the fourth quarter. CNB Bank now owns 778 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Kimberly S. Greene sold 9,126 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total value of $684,815.04. Following the completion of the sale, the chief executive officer now directly owns 121,504 shares of the company’s stock, valued at approximately $9,117,660.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Stephen E. Kuczynski sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $68.92, for a total transaction of $344,600.00. Following the sale, the chief executive officer now owns 126,528 shares of the company’s stock, valued at approximately $8,720,309.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kimberly S. Greene sold 9,126 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total value of $684,815.04. Following the sale, the chief executive officer now directly owns 121,504 shares in the company, valued at approximately $9,117,660.16. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Southern Stock Up 2.6 %

Shares of NYSE SO opened at $80.14 on Monday. The company has a market capitalization of $87.72 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 3.32 and a beta of 0.48. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.92 and a quick ratio of 0.65. The business has a 50-day moving average of $74.22 and a two-hundred day moving average of $71.16. The Southern Company has a 1 year low of $61.56 and a 1 year high of $80.23.

Southern (NYSE:SOGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The company had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.59 billion. Southern had a return on equity of 12.07% and a net margin of 16.74%. Southern’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 EPS. On average, analysts forecast that The Southern Company will post 3.99 earnings per share for the current fiscal year.

Southern Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Monday, May 20th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.59%. This is an increase from Southern’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, May 17th. Southern’s payout ratio is 74.42%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group cut Southern from a “buy” rating to a “neutral” rating and cut their target price for the stock from $78.00 to $76.00 in a research note on Thursday, April 4th. Bank of America lifted their price objective on Southern from $73.00 to $79.00 and gave the company a “neutral” rating in a research note on Friday. Barclays lifted their price objective on Southern from $65.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $76.00 price objective (up from $72.00) on shares of Southern in a research note on Monday, April 1st. Finally, Scotiabank dropped their price objective on Southern from $80.00 to $77.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $76.60.

Read Our Latest Stock Report on Southern

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.

See Also

Institutional Ownership by Quarter for Southern (NYSE:SO)

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