CCM Investment Advisers LLC Increases Stake in Southern Company (The) $SO

CCM Investment Advisers LLC boosted its position in Southern Company (The) (NYSE:SO) by 10.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 163,407 shares of the utilities provider’s stock after acquiring an additional 15,498 shares during the period. CCM Investment Advisers LLC’s holdings in Southern were worth $14,249,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SO. Strive Asset Management LLC bought a new stake in shares of Southern during the 3rd quarter valued at $37,000. Donaldson Capital Management LLC boosted its stake in Southern by 2,785.8% in the 3rd quarter. Donaldson Capital Management LLC now owns 563,027 shares of the utilities provider’s stock worth $53,358,000 after purchasing an additional 543,517 shares during the period. Matrix Trust Co purchased a new position in Southern during the 3rd quarter valued at about $1,813,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Southern during the third quarter valued at about $4,852,000. Finally, Shelton Capital Management increased its position in shares of Southern by 700.6% during the second quarter. Shelton Capital Management now owns 161,618 shares of the utilities provider’s stock valued at $14,841,000 after buying an additional 141,430 shares during the period. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Stock Performance

Southern stock opened at $94.51 on Thursday. Southern Company has a fifty-two week low of $83.09 and a fifty-two week high of $100.83. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.47 and a current ratio of 0.65. The stock has a market cap of $104.07 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 2.84 and a beta of 0.44. The firm’s fifty day moving average price is $93.16 and its 200-day moving average price is $91.78.

Southern (NYSE:SO) last released its earnings results on Wednesday, February 18th. The utilities provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Southern had a net margin of 14.69% and a return on equity of 12.52%. The firm had revenue of $6.98 billion during the quarter, compared to the consensus estimate of $6.41 billion. During the same period in the prior year, the company earned $0.50 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts expect that Southern Company will post 4.29 earnings per share for the current fiscal year.

Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th were paid a $0.74 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $2.96 annualized dividend and a yield of 3.1%. Southern’s dividend payout ratio is currently 75.32%.

Insider Buying and Selling

In other Southern news, EVP Christopher Cummiskey sold 6,669 shares of Southern stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $96.55, for a total transaction of $643,891.95. Following the transaction, the executive vice president directly owned 30,800 shares of the company’s stock, valued at approximately $2,973,740. This trade represents a 17.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SO shares. Wall Street Zen lowered shares of Southern from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. JPMorgan Chase & Co. decreased their target price on shares of Southern from $104.00 to $93.00 and set a “neutral” rating on the stock in a report on Monday, December 15th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $105.00 price target on shares of Southern in a report on Friday, January 23rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $102.00 price target on shares of Southern in a report on Monday, February 23rd. Finally, Mizuho set a $104.00 price objective on Southern and gave the company an “outperform” rating in a research note on Friday, February 20th. Six research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Southern presently has a consensus rating of “Hold” and a consensus price target of $98.08.

Southern Company Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.