Sanctuary Advisors LLC Has $32.09 Million Stock Position in Southern Company (The) $SO

Key Points

• Sanctuary Advisors LLC increased its stake in Southern Company by 5.1% to 368,033 shares, worth about $32.09 million at the end of the quarter.
• Southern raised its quarterly dividend to $0.76 (from $0.74), an annualized $3.04 representing a 3.3% yield, with an ex-dividend date of May 18 and payment on June 8.
• Southern reported Q4 EPS of $0.55 (missed by $0.01) while revenue rose 10.1% to $6.98 billion; Wall Street’s consensus is a Hold with an average price target around $99.08.

Sanctuary Advisors LLC grew its holdings in shares of Southern Company (The) (NYSE:SO - Free Report) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 368,033 shares of the utilities provider's stock after buying an additional 17,884 shares during the quarter. Sanctuary Advisors LLC's holdings in Southern were worth $32,092,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Gladstone Institutional Advisory LLC grew its holdings in shares of Southern by 0.5% during the third quarter. Gladstone Institutional Advisory LLC now owns 21,461 shares of the utilities provider's stock valued at $2,034,000 after buying an additional 105 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Southern by 0.7% during the third quarter. Venturi Wealth Management LLC now owns 15,230 shares of the utilities provider's stock valued at $1,443,000 after buying an additional 105 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of Southern by 2.1% during the third quarter. Cornerstone Wealth Management LLC now owns 5,155 shares of the utilities provider's stock valued at $489,000 after buying an additional 108 shares during the last quarter. Gateway Investment Advisers LLC grew its holdings in shares of Southern by 4.1% during the third quarter. Gateway Investment Advisers LLC now owns 2,768 shares of the utilities provider's stock valued at $262,000 after buying an additional 109 shares during the last quarter. Finally, PDS Planning Inc grew its holdings in shares of Southern by 1.8% during the third quarter. PDS Planning Inc now owns 6,145 shares of the utilities provider's stock valued at $582,000 after buying an additional 111 shares during the last quarter. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Stock Down 0.4%

Southern stock opened at $93.52 on Friday. Southern Company has a fifty-two week low of $83.09 and a fifty-two week high of $100.83. The stock has a market cap of $105.52 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 2.84 and a beta of 0.41. The firm's 50-day simple moving average is $95.78 and its 200 day simple moving average is $92.15. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.47 and a current ratio of 0.65.

Southern (NYSE:SO - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The utilities provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Southern had a return on equity of 12.52% and a net margin of 14.69%.The firm had revenue of $6.98 billion for the quarter, compared to analysts' expectations of $6.41 billion. During the same quarter last year, the firm posted $0.50 earnings per share. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts predict that Southern Company will post 4.58 EPS for the current fiscal year.

Southern Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, May 18th will be paid a $0.76 dividend. The ex-dividend date is Monday, May 18th. This is a positive change from Southern's previous quarterly dividend of $0.74. This represents a $3.04 dividend on an annualized basis and a yield of 3.3%. Southern's dividend payout ratio is presently 77.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SO shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Southern in a report on Wednesday, January 21st. Royal Bank Of Canada restated a "sector perform" rating and set a $105.00 price target on shares of Southern in a report on Friday, January 23rd. Truist Financial initiated coverage on shares of Southern in a report on Tuesday, April 21st. They set a "hold" rating and a $103.00 price target on the stock. Morgan Stanley cut their price target on shares of Southern from $94.00 to $92.00 and set an "underweight" rating on the stock in a report on Tuesday. Finally, KeyCorp upgraded shares of Southern from an "underweight" rating to a "sector weight" rating in a report on Wednesday, March 4th. Seven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Southern currently has an average rating of "Hold" and an average price target of $99.08.

Insider Transactions at Southern

In other Southern news, 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 value of $2,416,750.00. Following the transaction, the chief executive officer directly owned 103,602 shares in the company, valued at $10,015,205.34. The trade was a 19.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $643,891.95. Following the completion of 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 SEC filing for this sale provides additional information. 0.16% of the stock is owned by insiders.

About Southern

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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