Gryphon Financial Partners LLC Makes New Investment in The Southern Company (NYSE:SO)

Gryphon Financial Partners LLC purchased a new stake in The Southern Company (NYSE:SOFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,341 shares of the utilities provider’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Insigneo Advisory Services LLC grew its position in Southern by 3.1% in the 3rd quarter. Insigneo Advisory Services LLC now owns 4,883 shares of the utilities provider’s stock worth $316,000 after purchasing an additional 146 shares during the last quarter. Good Life Advisors LLC grew its position in Southern by 0.8% in the 4th quarter. Good Life Advisors LLC now owns 19,956 shares of the utilities provider’s stock worth $1,399,000 after purchasing an additional 149 shares during the last quarter. Insight Inv LLC grew its position in Southern by 1.4% in the 4th quarter. Insight Inv LLC now owns 10,530 shares of the utilities provider’s stock worth $738,000 after purchasing an additional 150 shares during the last quarter. Patten & Patten Inc. TN grew its position in Southern by 0.7% in the 4th quarter. Patten & Patten Inc. TN now owns 20,736 shares of the utilities provider’s stock worth $1,454,000 after purchasing an additional 150 shares during the last quarter. Finally, CNB Bank grew its position in Southern by 23.9% in the 4th quarter. CNB Bank now owns 778 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SO. Barclays raised their price objective on shares of Southern from $65.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Scotiabank reduced their price objective on shares of Southern from $80.00 to $77.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Argus raised their price objective on shares of Southern from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Royal Bank of Canada reissued an “outperform” rating and set a $80.00 price target on shares of Southern in a report on Wednesday, February 21st. Finally, Wells Fargo & Company lifted their price target on shares of Southern from $72.00 to $77.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Southern presently has an average rating of “Moderate Buy” and a consensus target price of $76.60.

Check Out Our Latest Report on SO

Insider Activity at Southern

In related news, CEO Kimberly S. Greene sold 9,126 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total value of $684,815.04. Following the completion of the transaction, the chief executive officer now owns 121,504 shares in the company, valued at approximately $9,117,660.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Southern news, CEO Kimberly S. Greene sold 9,126 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total transaction of $684,815.04. Following the completion of the transaction, the chief executive officer now owns 121,504 shares in the company, valued at approximately $9,117,660.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’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 transaction, the chief executive officer now owns 126,528 shares of the company’s stock, valued at approximately $8,720,309.76. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Southern Trading Up 2.6 %

SO stock opened at $80.14 on Monday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.65 and a current ratio of 0.92. The company’s 50-day simple moving average is $74.22 and its 200 day simple moving average is $71.16. The Southern Company has a 52 week low of $61.56 and a 52 week high of $80.23. The company has a market capitalization of $87.72 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 3.32 and a beta of 0.48.

Southern (NYSE:SOGet Free Report) last announced its quarterly earnings data 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 firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.59 billion. Southern had a net margin of 16.74% and a return on equity of 12.07%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. As a group, sell-side analysts anticipate that The Southern Company will post 3.99 earnings per share for the current year.

Southern Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Southern’s previous quarterly dividend of $0.70. Southern’s dividend payout ratio (DPR) is 74.42%.

Southern 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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