Delta Asset Management LLC TN Sells 683 Shares of Southern Company (The) $SO

Delta Asset Management LLC TN lowered its holdings in shares of Southern Company (The) (NYSE:SO) by 4.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 13,866 shares of the utilities provider’s stock after selling 683 shares during the period. Delta Asset Management LLC TN’s holdings in Southern were worth $1,273,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. grew its position in shares of Southern by 275.0% during the 2nd quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider’s stock worth $27,000 after buying an additional 220 shares during the period. Cheviot Value Management LLC bought a new stake in shares of Southern in the 1st quarter valued at $28,000. Advantage Trust Co lifted its position in shares of Southern by 1,428.6% during the 2nd quarter. Advantage Trust Co now owns 321 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Financial Connections Group Inc. bought a new position in Southern during the first quarter worth $33,000. Finally, Accredited Wealth Management LLC acquired a new stake in Southern in the first quarter worth $36,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Stock Performance

Shares of SO opened at $90.65 on Monday. The firm has a market capitalization of $99.81 billion, a P/E ratio of 23.30, a P/E/G ratio of 3.31 and a beta of 0.45. Southern Company has a 52 week low of $80.46 and a 52 week high of $100.83. The stock has a 50 day moving average price of $94.11 and a two-hundred day moving average price of $92.51. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.54 and a current ratio of 0.74.

Southern (NYSE:SO) last announced its earnings results on Wednesday, October 29th. The utilities provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.09. Southern had a return on equity of 12.09% and a net margin of 15.10%.The company had revenue of $7.82 billion for the quarter, compared to analysts’ expectations of $8.04 billion. During the same quarter in the previous year, the firm earned $1.39 earnings per share. Southern’s quarterly revenue was up 7.5% on a year-over-year basis. Equities analysts forecast that Southern Company will post 4.29 earnings per share for the current fiscal year.

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 17th will be paid a $0.74 dividend. The ex-dividend date is Monday, November 17th. This represents a $2.96 annualized dividend and a dividend yield of 3.3%. Southern’s dividend payout ratio is presently 73.27%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SO shares. TD Cowen started coverage on shares of Southern in a report on Thursday, October 16th. They set a “buy” rating and a $112.00 price objective on the stock. BTIG Research initiated coverage on Southern in a research report on Tuesday, October 21st. They issued a “neutral” rating for the company. Scotiabank reiterated a “sector perform” rating and issued a $99.00 price target on shares of Southern in a report on Friday, October 3rd. Morgan Stanley reissued an “outperform” rating and issued a $99.00 price objective on shares of Southern in a research note on Wednesday, October 22nd. Finally, BMO Capital Markets upped their target price on Southern from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $99.56.

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.