Waters Parkerson & CO. LLC Sells 700 Shares of The Southern Company (NYSE:SO)

Waters Parkerson & CO. LLC reduced its stake in The Southern Company (NYSE:SOFree Report) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,228 shares of the utilities provider’s stock after selling 700 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in Southern were worth $1,568,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bollard Group LLC raised its holdings in Southern by 1.0% in the 2nd quarter. Bollard Group LLC now owns 431,500 shares of the utilities provider’s stock valued at $30,313,000 after acquiring an additional 4,082 shares during the period. Cullinan Associates Inc. increased its holdings in shares of Southern by 200.9% during the third quarter. Cullinan Associates Inc. now owns 76,227 shares of the utilities provider’s stock worth $4,933,000 after purchasing an additional 50,897 shares during the period. Elevated Capital Advisors LLC increased its holdings in shares of Southern by 2.4% during the second quarter. Elevated Capital Advisors LLC now owns 24,377 shares of the utilities provider’s stock worth $1,712,000 after purchasing an additional 582 shares during the period. Aspen Grove Capital LLC increased its holdings in shares of Southern by 63.1% during the second quarter. Aspen Grove Capital LLC now owns 4,965 shares of the utilities provider’s stock worth $349,000 after purchasing an additional 1,921 shares during the period. Finally, Gratus Capital LLC boosted its position in shares of Southern by 3.9% during the 2nd quarter. Gratus Capital LLC now owns 6,186 shares of the utilities provider’s stock worth $435,000 after acquiring an additional 233 shares in the last quarter. 62.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Southern

In other Southern news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction on Monday, December 11th. The shares were sold at an average price of $71.23, for a total value of $356,150.00. Following the completion of the sale, the chief executive officer now directly owns 106,284 shares of the company’s stock, valued at $7,570,609.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $71.23, for a total transaction of $356,150.00. Following the completion of the transaction, the chief executive officer now directly owns 106,284 shares in the company, valued at $7,570,609.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher Cummiskey sold 899 shares of Southern stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total transaction of $60,286.94. Following the transaction, the executive vice president now owns 22,502 shares of the company’s stock, valued at $1,508,984.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,998 shares of company stock valued at $2,176,813. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

SO has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Southern from $69.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 29th. Scotiabank lowered shares of Southern from a “sector outperform” rating to a “sector perform” rating and set a $78.00 target price on the stock. in a research report on Friday, November 3rd. Morgan Stanley raised their target price on shares of Southern from $66.00 to $67.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 21st. BMO Capital Markets upgraded shares of Southern from a “market perform” rating to an “outperform” rating and raised their target price for the company from $72.00 to $77.00 in a research report on Thursday, January 11th. Finally, Mizuho cut their target price on shares of Southern from $76.00 to $73.00 and set a “buy” rating on the stock in a research report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.00.

Check Out Our Latest Stock Analysis on Southern

Southern Trading Down 0.1 %

NYSE SO traded down $0.06 during mid-day trading on Monday, reaching $66.85. 258,812 shares of the stock were exchanged, compared to its average volume of 4,311,811. The Southern Company has a one year low of $61.56 and a one year high of $75.80. The stock has a 50 day simple moving average of $70.10 and a 200-day simple moving average of $68.90. The stock has a market cap of $72.91 billion, a P/E ratio of 24.16, a P/E/G ratio of 4.18 and a beta of 0.50. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.84 and a quick ratio of 0.63.

Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Friday, February 16th. Southern’s dividend payout ratio (DPR) is currently 101.08%.

Southern Company Profile

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through three segments: Gas Distribution Operations, Gas Pipeline Investments, and Gas Marketing Services. 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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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