Shikiar Asset Management Inc. Lowers Position in The Southern Company (NYSE:SO)

Shikiar Asset Management Inc. cut its holdings in The Southern Company (NYSE:SOGet Rating) by 25.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,850 shares of the utilities provider’s stock after selling 4,300 shares during the quarter. Shikiar Asset Management Inc.’s holdings in Southern were worth $932,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of Southern in the 4th quarter valued at about $161,000. Liberty One Investment Management LLC raised its holdings in shares of Southern by 4.4% in the 4th quarter. Liberty One Investment Management LLC now owns 357,557 shares of the utilities provider’s stock valued at $24,521,000 after purchasing an additional 15,206 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of Southern by 20.0% in the 4th quarter. Koshinski Asset Management Inc. now owns 19,490 shares of the utilities provider’s stock valued at $1,337,000 after purchasing an additional 3,253 shares in the last quarter. Cypress Capital Group raised its holdings in shares of Southern by 11.5% in the 4th quarter. Cypress Capital Group now owns 10,764 shares of the utilities provider’s stock valued at $738,000 after purchasing an additional 1,114 shares in the last quarter. Finally, IVC Wealth Advisors LLC raised its stake in shares of Southern by 3.4% during the 4th quarter. IVC Wealth Advisors LLC now owns 6,625 shares of the utilities provider’s stock worth $454,000 after acquiring an additional 216 shares in the last quarter. 60.58% of the stock is currently owned by institutional investors and hedge funds.

SO stock opened at $67.69 on Thursday. The firm’s fifty day simple moving average is $73.44 and its 200-day simple moving average is $69.98. The company has a market capitalization of $71.92 billion, a P/E ratio of 31.34, a price-to-earnings-growth ratio of 4.71 and a beta of 0.48. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.89 and a quick ratio of 0.70. The Southern Company has a 12 month low of $60.12 and a 12 month high of $77.24.

Southern (NYSE:SOGet Rating) last released its quarterly earnings data on Thursday, April 28th. The utilities provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. The business had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $5.93 billion. Southern had a net margin of 10.09% and a return on equity of 11.35%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. As a group, sell-side analysts forecast that The Southern Company will post 3.56 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 6th. Stockholders of record on Monday, May 16th were issued a $0.68 dividend. This is an increase from Southern’s previous quarterly dividend of $0.66. This represents a $2.72 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Friday, May 13th. Southern’s dividend payout ratio is 125.93%.

SO has been the subject of several recent analyst reports. Mizuho boosted their price objective on shares of Southern from $67.00 to $76.00 and gave the stock a “neutral” rating in a research note on Thursday, April 21st. Wells Fargo & Company boosted their price objective on shares of Southern from $68.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 19th. StockNews.com initiated coverage on shares of Southern in a research note on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley cut their price target on shares of Southern from $67.00 to $66.00 and set an “underweight” rating on the stock in a research note on Monday, May 23rd. Finally, BMO Capital Markets cut their price target on shares of Southern from $81.00 to $70.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $72.88.

In related news, CEO Stephen E. Kuczynski sold 14,500 shares of the stock in a transaction on Friday, June 10th. The shares were sold at an average price of $72.08, for a total transaction of $1,045,160.00. Following the sale, the chief executive officer now directly owns 115,284 shares of the company’s stock, valued at $8,309,670.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bryan D. Anderson sold 26,917 shares of the stock in a transaction on Friday, April 8th. The stock was sold at an average price of $75.96, for a total transaction of $2,044,615.32. Following the sale, the executive vice president now directly owns 30,660 shares in the company, valued at $2,328,933.60. The disclosure for this sale can be found here. Insiders have sold 307,831 shares of company stock worth $22,373,794 over the last three months. 0.37% of the stock is currently owned by insiders.

About Southern (Get Rating)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. 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, wholesale gas services, and gas pipeline investments operations.

See Also

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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