NorthStar Asset Management LLC NJ Invests $253,000 in Southern Company (The) (NYSE:SO)

NorthStar Asset Management LLC NJ purchased a new position in shares of Southern Company (The) (NYSE:SO - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,748 shares of the utilities provider's stock, valued at approximately $253,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Investors Research Corp raised its position in Southern by 400.0% in the 1st quarter. Investors Research Corp now owns 270 shares of the utilities provider's stock valued at $25,000 after buying an additional 216 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Southern during the fourth quarter valued at about $37,000. Rossby Financial LCC purchased a new position in Southern during the first quarter worth about $39,000. Elequin Capital LP increased its stake in Southern by 60.6% in the 4th quarter. Elequin Capital LP now owns 498 shares of the utilities provider's stock valued at $41,000 after buying an additional 188 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Southern during the 4th quarter worth approximately $44,000. Institutional investors own 64.10% of the company's stock.

Southern Price Performance

Southern stock traded down $0.13 during midday trading on Thursday, reaching $95.00. 3,904,609 shares of the stock were exchanged, compared to its average volume of 4,749,036. Southern Company has a 52 week low of $80.46 and a 52 week high of $96.44. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.65 and a current ratio of 0.86. The firm has a market cap of $104.41 billion, a PE ratio of 22.67, a PEG ratio of 3.29 and a beta of 0.38. The company's fifty day moving average is $90.74 and its 200-day moving average is $88.88.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.03. The company had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.17 billion. Southern had a return on equity of 12.70% and a net margin of 16.54%. The firm's revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 earnings per share. On average, sell-side analysts forecast that Southern Company will post 4.29 EPS for the current year.

Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 18th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Monday, August 18th. Southern's payout ratio is 70.64%.

Insiders Place Their Bets

In related news, CEO Kimberly S. Greene sold 13,158 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $95.00, for a total value of $1,250,010.00. Following the completion of the sale, the chief executive officer owned 93,661 shares in the company, valued at $8,897,795. The trade was a 12.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. BMO Capital Markets upped their target price on Southern from $98.00 to $102.00 and gave the company an "outperform" rating in a report on Tuesday. Wells Fargo & Company raised their target price on Southern from $95.00 to $99.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. KeyCorp cut Southern from a "sector weight" rating to an "underweight" rating and set a $78.00 target price on the stock. in a research note on Wednesday, May 14th. JPMorgan Chase & Co. increased their price target on shares of Southern from $94.00 to $97.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Finally, Evercore ISI lifted their price objective on shares of Southern from $90.00 to $94.00 and gave the stock an "in-line" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $93.53.

Southern Profile

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.