The Southern Company (NYSE:SO) Shares Purchased by Norris Perne & French LLP MI

Norris Perne & French LLP MI grew its position in shares of The Southern Company (NYSE:SO) by 2.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 393,082 shares of the utilities provider’s stock after purchasing an additional 9,481 shares during the quarter. Southern accounts for 2.0% of Norris Perne & French LLP MI’s portfolio, making the stock its 14th largest position. Norris Perne & French LLP MI’s holdings in Southern were worth $28,200,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Voisard Asset Management Group Inc. acquired a new position in shares of Southern in the 4th quarter worth $31,000. Scarborough Advisors LLC acquired a new stake in shares of Southern in the fourth quarter worth $31,000. Versant Capital Management Inc boosted its position in shares of Southern by 62.0% in the first quarter. Versant Capital Management Inc now owns 444 shares of the utilities provider’s stock worth $32,000 after buying an additional 170 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of Southern in the fourth quarter worth $34,000. Finally, Valley National Advisers Inc. boosted its position in shares of Southern by 63.9% in the fourth quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider’s stock worth $36,000 after buying an additional 205 shares during the period. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Trading Down 0.6 %

SO traded down $0.47 during trading on Friday, reaching $77.57. 6,226,973 shares of the stock traded hands, compared to its average volume of 3,873,369. The company has a quick ratio of 0.65, a current ratio of 0.92 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $84.82 billion, a PE ratio of 20.04, a P/E/G ratio of 2.81 and a beta of 0.51. The stock’s 50-day moving average is $77.58 and its 200 day moving average is $72.26. The Southern Company has a 12 month low of $61.56 and a 12 month high of $80.84.

Southern (NYSE:SO) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.13. Southern had a net margin of 16.74% and a return on equity of 12.07%. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that The Southern Company will post 4 earnings per share for the current year.

Southern Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Monday, May 20th were given a dividend of $0.72 per share. This is an increase from Southern’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Friday, May 17th. Southern’s dividend payout ratio is currently 74.42%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. UBS Group downgraded Southern from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $78.00 to $76.00 in a research note on Thursday, April 4th. BMO Capital Markets reissued an “outperform” rating and set a $76.00 price objective (up previously from $72.00) on shares of Southern in a research report on Monday, April 1st. Scotiabank cut their price target on Southern from $80.00 to $77.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Bank of America upped their price target on Southern from $73.00 to $79.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Finally, Mizuho upped their price target on Southern from $73.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Southern currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.14.

Insider Activity

In related news, CEO Kimberly S. Greene sold 9,126 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total value of $684,815.04. Following the completion of the transaction, the chief executive officer now directly owns 121,504 shares of the company’s stock, valued at approximately $9,117,660.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

About Southern

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.