Verity & Verity LLC Acquires 6,172 Shares of Southern Co (NYSE:SO)

Verity & Verity LLC raised its position in Southern Co (NYSE:SO) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,553 shares of the utilities provider’s stock after purchasing an additional 6,172 shares during the quarter. Southern comprises 2.5% of Verity & Verity LLC’s investment portfolio, making the stock its 6th biggest position. Verity & Verity LLC’s holdings in Southern were worth $11,795,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Pettyjohn Wood & White Inc. increased its stake in Southern by 0.3% during the 2nd quarter. Pettyjohn Wood & White Inc. now owns 60,890 shares of the utilities provider’s stock worth $3,366,000 after buying an additional 175 shares during the period. Confluence Wealth Management LLC grew its holdings in Southern by 2.2% during the 2nd quarter. Confluence Wealth Management LLC now owns 8,047 shares of the utilities provider’s stock worth $445,000 after acquiring an additional 175 shares in the last quarter. 6 Meridian grew its holdings in Southern by 1.8% during the 2nd quarter. 6 Meridian now owns 10,278 shares of the utilities provider’s stock worth $568,000 after acquiring an additional 181 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in Southern by 0.8% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,452 shares of the utilities provider’s stock worth $1,296,000 after acquiring an additional 186 shares in the last quarter. Finally, St. Johns Investment Management Company LLC grew its holdings in Southern by 1.9% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 10,573 shares of the utilities provider’s stock worth $584,000 after acquiring an additional 195 shares in the last quarter. Institutional investors own 58.36% of the company’s stock.

Several research analysts have recently issued reports on the stock. Barclays restated a “hold” rating and issued a $57.00 target price on shares of Southern in a report on Wednesday, June 19th. Morgan Stanley lowered their target price on shares of Southern from $55.00 to $54.00 and set an “underweight” rating for the company in a report on Friday, August 16th. UBS Group upped their target price on shares of Southern from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, September 6th. SunTrust Banks set a $59.00 target price on shares of Southern and gave the company a “hold” rating in a report on Tuesday, September 3rd. Finally, Bank of America upped their target price on shares of Southern from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $55.70.

Shares of Southern stock traded down $0.28 during trading hours on Friday, hitting $61.52. The company had a trading volume of 3,467,012 shares, compared to its average volume of 4,632,618. The company’s 50-day moving average is $60.14 and its two-hundred day moving average is $55.89. Southern Co has a twelve month low of $42.50 and a twelve month high of $62.36. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.76 and a quick ratio of 0.59. The company has a market cap of $63.83 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 4.48 and a beta of 0.16.

Southern (NYSE:SO) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.08. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.12 billion. Southern had a net margin of 20.18% and a return on equity of 10.04%. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 EPS. Sell-side analysts expect that Southern Co will post 3.04 EPS for the current year.

In related news, EVP James Y. Kerr II sold 25,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $58.16, for a total transaction of $1,454,000.00. Following the completion of the sale, the executive vice president now owns 67,655 shares in the company, valued at approximately $3,934,814.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Stephen E. Kuczynski sold 2,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $58.28, for a total transaction of $116,560.00. Following the sale, the chief executive officer now owns 69,772 shares of the company’s stock, valued at approximately $4,066,312.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,533 shares of company stock valued at $12,386,567. 0.88% of the stock is owned by company insiders.

Southern Profile

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

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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