The Southern Company (NYSE:SO) Shares Sold by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC cut its stake in shares of The Southern Company (NYSE:SOFree Report) by 5.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 6,464 shares of the utilities provider’s stock after selling 390 shares during the period. Moloney Securities Asset Management LLC’s holdings in Southern were worth $464,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. acquired a new stake in shares of Southern in the fourth quarter valued at about $31,000. Scarborough Advisors LLC purchased a new stake in shares of Southern in the fourth quarter valued at about $31,000. Versant Capital Management Inc grew its holdings in shares of Southern by 62.0% in the first quarter. Versant Capital Management Inc now owns 444 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 170 shares during the period. BKM Wealth Management LLC purchased a new stake in shares of Southern in the fourth quarter valued at about $34,000. Finally, Valley National Advisers Inc. grew its holdings in shares of Southern by 63.9% in the fourth quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 205 shares during the period. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SO. Argus increased their target price on shares of Southern from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Mizuho increased their target price on shares of Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Barclays increased their target price on shares of Southern from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Morgan Stanley lowered their target price on shares of Southern from $74.00 to $71.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $76.00 price objective (up previously from $72.00) on shares of Southern in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $76.14.

Check Out Our Latest Report on SO

Insider Buying and Selling

In other Southern news, EVP Sloane N. Drake sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $77.61, for a total value of $931,320.00. Following the transaction, the executive vice president now directly owns 16,771 shares in the company, valued at approximately $1,301,597.31. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Southern news, EVP Sloane N. Drake sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $77.61, for a total value of $931,320.00. Following the transaction, the executive vice president now directly owns 16,771 shares in the company, valued at approximately $1,301,597.31. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kimberly S. Greene sold 9,126 shares of the company’s stock in a transaction dated 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 $9,117,660.16. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Southern Stock Performance

NYSE:SO opened at $78.04 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.92 and a debt-to-equity ratio of 1.67. The Southern Company has a fifty-two week low of $61.56 and a fifty-two week high of $80.84. The stock has a market cap of $85.33 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 2.81 and a beta of 0.51. The firm’s fifty day simple moving average is $77.99 and its 200-day simple moving average is $72.51.

Southern (NYSE:SOGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.90 by $0.13. Southern had a net margin of 16.74% and a return on equity of 12.07%. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same period in the previous year, the firm earned $0.79 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts expect that The Southern Company will post 4 earnings per share for the current fiscal year.

Southern Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Monday, May 20th were given a $0.72 dividend. The ex-dividend date of this dividend was Friday, May 17th. This is a positive change from Southern’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 3.69%. Southern’s payout ratio is currently 74.42%.

About Southern

(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.

Further Reading

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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