Providence First Trust Co Lowers Stock Position in Southern Company (The) $SO

Providence First Trust Co lessened its holdings in shares of Southern Company (The) (NYSE:SO - Free Report) by 85.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,780 shares of the utilities provider's stock after selling 16,166 shares during the period. Providence First Trust Co's holdings in Southern were worth $242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cloud Capital Management LLC bought a new stake in Southern during the third quarter worth about $25,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Southern during the third quarter valued at approximately $29,000. Triumph Capital Management purchased a new position in shares of Southern during the third quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Southern in the 4th quarter worth approximately $31,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Southern in the 3rd quarter worth approximately $34,000. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Stock Performance

Shares of SO stock opened at $93.60 on Thursday. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. The company has a 50 day moving average price of $95.89 and a 200-day moving average price of $91.97. Southern Company has a 52 week low of $83.09 and a 52 week high of $100.83. The firm has a market capitalization of $105.52 billion, a PE ratio of 23.82, a P/E/G ratio of 2.90 and a beta of 0.36.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The utilities provider reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.11. Southern had a net margin of 14.46% and a return on equity of 12.64%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities research analysts expect that Southern Company will post 4.57 earnings per share for the current year.

Southern Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Monday, May 18th will be paid a $0.76 dividend. This is an increase from Southern's previous quarterly dividend of $0.74. The ex-dividend date is Monday, May 18th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.2%. Southern's dividend payout ratio (DPR) is 75.32%.

Analysts Set New Price Targets

SO has been the subject of a number of analyst reports. Weiss Ratings raised Southern from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 1st. Morgan Stanley cut their target price on Southern from $94.00 to $92.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 21st. Wells Fargo & Company set a $96.00 price target on Southern and gave the company an "equal weight" rating in a report on Friday, February 20th. Scotiabank lifted their price target on Southern from $101.00 to $103.00 and gave the stock a "sector perform" rating in a research report on Friday, February 20th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $102.00 price target on shares of Southern in a research note on Monday, February 23rd. 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $99.85.

Insider Buying and Selling at Southern

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

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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