Freestone Capital Holdings LLC Has $8.80 Million Holdings in Southern Company (The) $SO

Freestone Capital Holdings LLC lifted its holdings in Southern Company (The) (NYSE:SO - Free Report) by 28.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,888 shares of the utilities provider's stock after acquiring an additional 22,541 shares during the period. Freestone Capital Holdings LLC's holdings in Southern were worth $8,797,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SO. Gladstone Institutional Advisory LLC lifted its position in Southern by 0.5% during the third quarter. Gladstone Institutional Advisory LLC now owns 21,461 shares of the utilities provider's stock worth $2,034,000 after purchasing an additional 105 shares during the period. Venturi Wealth Management LLC lifted its position in Southern by 0.7% during the third quarter. Venturi Wealth Management LLC now owns 15,230 shares of the utilities provider's stock worth $1,443,000 after purchasing an additional 105 shares during the period. Highline Wealth Partners LLC lifted its position in Southern by 0.7% during the third quarter. Highline Wealth Partners LLC now owns 15,667 shares of the utilities provider's stock worth $1,485,000 after purchasing an additional 106 shares during the period. Sara Bay Financial lifted its position in Southern by 2.7% during the third quarter. Sara Bay Financial now owns 4,133 shares of the utilities provider's stock worth $392,000 after purchasing an additional 108 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its position in Southern by 2.1% during the third quarter. Cornerstone Wealth Management LLC now owns 5,155 shares of the utilities provider's stock worth $489,000 after purchasing an additional 108 shares during the period. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Stock Down 1.2%

SO stock opened at $95.96 on Tuesday. The stock has a market capitalization of $108.27 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 2.93 and a beta of 0.41. The company has a current ratio of 0.65, a quick ratio of 0.47 and a debt-to-equity ratio of 1.69. Southern Company has a 12 month low of $83.09 and a 12 month high of $100.83. The firm has a 50-day moving average price of $95.28 and a 200-day moving average price of $92.19.

Southern (NYSE:SO - Get Free Report) last posted 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). The company had revenue of $6.98 billion during the quarter, compared to the consensus estimate of $6.41 billion. Southern had a return on equity of 12.52% and a net margin of 14.69%.The firm's revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company posted $0.50 EPS. As a group, equities research analysts anticipate that Southern Company will post 4.29 EPS for the current fiscal year.

Southern Announces Dividend

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

Insider Transactions at Southern

In related news, CEO Kimberly S. Greene sold 25,000 shares of Southern stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 103,602 shares in the company, valued at $10,015,205.34. This trade represents a 19.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christopher Cummiskey sold 6,669 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $96.55, for a total transaction of $643,891.95. Following the sale, the executive vice president directly owned 30,800 shares in the company, valued at $2,973,740. The trade was a 17.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SO shares. UBS Group cut their price objective on shares of Southern from $98.00 to $94.00 and set a "neutral" rating for the company in a research report on Wednesday, December 17th. JPMorgan Chase & Co. cut their price objective on shares of Southern from $104.00 to $93.00 and set a "neutral" rating for the company in a research report on Monday, December 15th. Truist Financial set a $103.00 price objective on shares of Southern in a research report on Friday, February 20th. Barclays upped their price objective on shares of Southern from $88.00 to $99.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Scotiabank upped their price objective on shares of Southern from $101.00 to $103.00 and gave the stock a "sector perform" rating in a research report on Friday, February 20th. Seven investment 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's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $98.69.

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.

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