Impact Partnership Wealth LLC Makes New $286,000 Investment in The Southern Company (NYSE:SO)

Impact Partnership Wealth LLC bought a new position in The Southern Company (NYSE:SO) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,170 shares of the utilities provider’s stock, valued at approximately $286,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SO. Brookstone Capital Management boosted its holdings in shares of Southern by 18.2% during the first quarter. Brookstone Capital Management now owns 79,414 shares of the utilities provider’s stock worth $5,697,000 after purchasing an additional 12,247 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Southern by 4.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 323,294 shares of the utilities provider’s stock worth $23,193,000 after purchasing an additional 13,728 shares during the period. Astoria Portfolio Advisors LLC. boosted its holdings in shares of Southern by 11.9% during the first quarter. Astoria Portfolio Advisors LLC. now owns 5,465 shares of the utilities provider’s stock worth $374,000 after purchasing an additional 582 shares during the period. S.E.E.D. Planning Group LLC boosted its holdings in shares of Southern by 358.5% during the first quarter. S.E.E.D. Planning Group LLC now owns 26,714 shares of the utilities provider’s stock worth $1,916,000 after purchasing an additional 20,888 shares during the period. Finally, Norris Perne & French LLP MI boosted its holdings in shares of Southern by 2.5% during the first quarter. Norris Perne & French LLP MI now owns 393,082 shares of the utilities provider’s stock worth $28,200,000 after purchasing an additional 9,481 shares during the period. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Southern

In other news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $88.99, for a total value of $211,796.20. Following the sale, the executive vice president now owns 12,500 shares in the company, valued at approximately $1,112,375. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Southern news, EVP Bryan D. Anderson sold 6,565 shares of Southern stock in a transaction on Friday, September 6th. The shares were sold at an average price of $89.54, for a total transaction of $587,830.10. Following the sale, the executive vice president now owns 44,467 shares in the company, valued at $3,981,575.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sterling A. Jr. Spainhour sold 2,380 shares of Southern stock in a transaction on Monday, August 5th. The stock was sold at an average price of $88.99, for a total transaction of $211,796.20. Following the sale, the executive vice president now owns 12,500 shares in the company, valued at $1,112,375. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,945 shares of company stock worth $3,488,826. Insiders own 0.18% of the company’s stock.

Southern Trading Down 0.6 %

Shares of Southern stock opened at $93.61 on Friday. The company’s fifty day simple moving average is $89.18 and its 200-day simple moving average is $82.20. The company has a market cap of $102.36 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 3.33 and a beta of 0.52. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66. The Southern Company has a 1 year low of $65.80 and a 1 year high of $94.45.

Southern (NYSE:SO) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.19. The business had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.10 billion. Southern had a net margin of 17.67% and a return on equity of 12.88%. Southern’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $0.79 earnings per share. As a group, sell-side analysts expect that The Southern Company will post 4.02 EPS for the current year.

Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $0.72 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.88 annualized dividend and a dividend yield of 3.08%. Southern’s payout ratio is 68.57%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Guggenheim raised their price objective on shares of Southern from $93.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Wolfe Research lowered shares of Southern from an “outperform” rating to a “peer perform” rating in a research report on Friday, August 2nd. Bank of America raised their price objective on shares of Southern from $86.00 to $87.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Barclays raised their price objective on shares of Southern from $71.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Mizuho lowered shares of Southern from an “outperform” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Southern currently has a consensus rating of “Hold” and a consensus price target of $89.07.

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.