AlphaCore Capital LLC Acquires 12,842 Shares of Southern Company (The) $SO

Key Points

• AlphaCore Capital LLC boosted its stake in Southern Company by 119.6% in the fourth quarter, buying 12,842 more shares and bringing its total holding to 23,581 shares worth about $2.06 million.
• Southern’s latest earnings beat expectations, reporting $1.32 EPS on revenue of $8.40 billion, both above analyst estimates, while revenue rose 8% year over year.
• The company raised its quarterly dividend to $0.76 per share from $0.74, putting the annualized payout at $3.04 and the dividend yield at about 3.3%.

AlphaCore Capital LLC increased its holdings in Southern Company (The) (NYSE:SO - Free Report) by 119.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,581 shares of the utilities provider's stock after buying an additional 12,842 shares during the period. AlphaCore Capital LLC's holdings in Southern were worth $2,056,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Cloud Capital Management LLC purchased a new stake in Southern in the 3rd quarter worth approximately $25,000. Grey Fox Wealth Advisors LLC purchased a new stake in Southern in the 3rd quarter worth approximately $29,000. Triumph Capital Management purchased a new stake in Southern in the 3rd quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Southern in the 4th quarter worth approximately $31,000. Finally, Legacy Wealth Managment LLC ID purchased a new stake in Southern in the 4th quarter worth approximately $33,000. 64.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Southern news, EVP Christopher Cummiskey sold 6,669 shares of the business's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $96.55, for a total value of $643,891.95. Following the transaction, the executive vice president owned 30,800 shares in the company, valued at approximately $2,973,740. The trade was a 17.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kimberly S. Greene sold 25,000 shares of the business's stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the completion of the transaction, the chief executive officer owned 103,602 shares in the company, valued at $10,015,205.34. The trade was a 19.44% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SO. Citigroup reissued a "buy" rating on shares of Southern in a report on Friday, April 10th. BMO Capital Markets restated an "outperform" rating on shares of Southern in a research report on Friday, February 20th. Wells Fargo & Company set a $96.00 price objective on shares of Southern and gave the company an "equal weight" rating in a research report on Friday, February 20th. Royal Bank Of Canada restated a "sector perform" rating and set a $105.00 price objective on shares of Southern in a research report on Friday, January 23rd. Finally, Morgan Stanley lowered their price objective on shares of Southern from $94.00 to $92.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $99.85.

Southern Price Performance

Shares of NYSE:SO opened at $92.56 on Friday. The stock has a market cap of $104.35 billion, a PE ratio of 23.55, a PEG ratio of 2.80 and a beta of 0.36. The company's fifty day moving average is $95.34 and its 200 day moving average is $91.80. Southern Company has a 52 week low of $83.80 and a 52 week high of $100.83. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68.

Southern (NYSE:SO - Get Free Report) last issued its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.11. The company had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 EPS. Research analysts anticipate that Southern Company will post 4.57 earnings per share for the current year.

Southern Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Monday, May 18th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, May 18th. This is a boost from Southern's previous quarterly dividend of $0.74. Southern's dividend payout ratio is 75.32%.

Southern 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.

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