Coastline Trust Co Has $247,000 Position in Southern Co (SO)

Coastline Trust Co trimmed its stake in shares of Southern Co (NYSE:SO) by 28.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,670 shares of the utilities provider’s stock after selling 2,210 shares during the quarter. Coastline Trust Co’s holdings in Southern were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Kaizen Advisory LLC grew its holdings in Southern by 133.8% in the second quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 1,307 shares during the period. Destination Wealth Management grew its holdings in Southern by 359.3% in the second quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 1,811 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Southern in the second quarter valued at approximately $119,000. Horan Capital Advisors LLC. acquired a new stake in Southern in the second quarter valued at approximately $121,000. Finally, Sound Income Strategies LLC grew its holdings in Southern by 83.5% in the third quarter. Sound Income Strategies LLC now owns 2,855 shares of the utilities provider’s stock valued at $124,000 after purchasing an additional 1,299 shares during the period. 57.34% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Christopher C. Womack sold 16,371 shares of Southern stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $47.40, for a total value of $775,985.40. Following the sale, the executive vice president now directly owns 10,165 shares of the company’s stock, valued at $481,821. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.73% of the company’s stock.

SO has been the topic of several research analyst reports. Deutsche Bank lowered Southern from a “buy” rating to a “hold” rating and set a $48.00 price objective on the stock. in a report on Tuesday, June 26th. ValuEngine raised Southern from a “sell” rating to a “hold” rating in a report on Friday. Howard Weil initiated coverage on Southern in a report on Tuesday, July 24th. They issued a “sector perform” rating and a $45.00 price objective on the stock. Barclays lowered Southern from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $51.00 to $48.00 in a report on Thursday, August 9th. Finally, Zacks Investment Research raised Southern from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Tuesday, October 9th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Southern has an average rating of “Hold” and an average target price of $46.04.

Shares of NYSE:SO opened at $45.07 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $44.94 billion, a PE ratio of 14.92, a PEG ratio of 3.29 and a beta of -0.05. Southern Co has a 1 year low of $42.38 and a 1 year high of $53.51.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, August 8th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.11. The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.28 billion. Southern had a return on equity of 13.06% and a net margin of 9.96%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. Research analysts anticipate that Southern Co will post 3 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Monday, November 19th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date of this dividend is Friday, November 16th. Southern’s dividend payout ratio is presently 79.47%.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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