Southern Company (The) (NYSE:SO) Shares Sold by First Bank & Trust

First Bank & Trust lessened its holdings in shares of Southern Company (The) (NYSE:SO) by 2.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 47,826 shares of the utilities provider’s stock after selling 1,068 shares during the quarter. Southern makes up 0.9% of First Bank & Trust’s portfolio, making the stock its 21st largest holding. First Bank & Trust’s holdings in Southern were worth $4,398,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Miracle Mile Advisors LLC boosted its position in shares of Southern by 0.7% during the first quarter. Miracle Mile Advisors LLC now owns 15,928 shares of the utilities provider’s stock worth $1,465,000 after buying an additional 110 shares during the period. Keudell Morrison Wealth Management raised its stake in Southern by 1.1% during the 1st quarter. Keudell Morrison Wealth Management now owns 10,032 shares of the utilities provider’s stock valued at $922,000 after acquiring an additional 110 shares in the last quarter. West Branch Capital LLC boosted its position in Southern by 23.0% during the 1st quarter. West Branch Capital LLC now owns 616 shares of the utilities provider’s stock worth $57,000 after acquiring an additional 115 shares during the period. PFW Advisors LLC boosted its position in Southern by 1.9% during the 1st quarter. PFW Advisors LLC now owns 6,114 shares of the utilities provider’s stock worth $562,000 after acquiring an additional 116 shares during the period. Finally, Syverson Strege & Co grew its stake in shares of Southern by 2.8% in the fourth quarter. Syverson Strege & Co now owns 4,264 shares of the utilities provider’s stock worth $351,000 after purchasing an additional 117 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Trading Up 0.4%

Shares of NYSE SO opened at $92.22 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.86 and a debt-to-equity ratio of 1.69. Southern Company has a 12 month low of $77.00 and a 12 month high of $94.45. The company has a market cap of $101.35 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 3.28 and a beta of 0.38. The business has a fifty day simple moving average of $89.73 and a 200-day simple moving average of $87.68.

Southern (NYSE:SO) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Southern had a net margin of 16.54% and a return on equity of 12.70%. The company had revenue of $7.78 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was up 17.0% on a year-over-year basis. Sell-side analysts predict that Southern Company will post 4.29 EPS for the current year.

Southern Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Monday, May 19th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 3.21%. This is an increase from Southern’s previous quarterly dividend of $0.72. Southern’s dividend payout ratio is 70.64%.

Analysts Set New Price Targets

SO has been the topic of several research analyst reports. Guggenheim reissued a “neutral” rating and set a $93.00 target price on shares of Southern in a research note on Friday, May 2nd. Jefferies Financial Group upgraded shares of Southern from a “hold” rating to a “buy” rating and lowered their price objective for the company from $102.00 to $100.00 in a research note on Thursday, June 5th. Evercore ISI boosted their target price on Southern from $90.00 to $94.00 and gave the stock an “in-line” rating in a report on Friday, May 2nd. Wells Fargo & Company increased their price target on Southern from $95.00 to $99.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Finally, Raymond James Financial assumed coverage on Southern in a research report on Friday, June 13th. They set an “outperform” rating and a $98.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Southern currently has an average rating of “Hold” and an average target price of $92.93.

Southern Company 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.