Patrick Mauro Investment Advisor INC. Cuts Position in Southern Company (The) $SO

Patrick Mauro Investment Advisor INC. trimmed its position in Southern Company (The) (NYSE:SO) by 35.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 23,582 shares of the utilities provider’s stock after selling 12,727 shares during the quarter. Patrick Mauro Investment Advisor INC.’s holdings in Southern were worth $2,056,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Southern in the 4th quarter worth about $1,111,450,000. Eurizon SLJ Capital Ltd purchased a new position in shares of Southern in the 4th quarter worth about $220,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Southern in the 4th quarter worth about $17,019,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Southern in the 4th quarter worth about $1,800,000. Finally, National Pension Service raised its holdings in shares of Southern by 5.3% in the 4th quarter. National Pension Service now owns 2,900,350 shares of the utilities provider’s stock worth $252,911,000 after purchasing an additional 146,674 shares during the period. 64.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SO shares. Jefferies Financial Group reiterated a “hold” rating and issued a $102.00 target price on shares of Southern in a research note on Monday, February 23rd. Citigroup reiterated a “buy” rating on shares of Southern in a research note on Friday, April 10th. Wells Fargo & Company set a $96.00 target price on Southern and gave the company an “equal weight” rating in a research note on Friday, February 20th. Morgan Stanley reiterated an “underweight” rating and issued a $87.00 target price on shares of Southern in a research note on Thursday, May 21st. Finally, TD Cowen increased their target price on Southern from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Southern currently has an average rating of “Hold” and an average target price of $99.38.

Southern Price Performance

Shares of NYSE SO opened at $92.06 on Friday. Southern Company has a fifty-two week low of $83.80 and a fifty-two week high of $100.83. The business has a 50 day moving average price of $94.61 and a two-hundred day moving average price of $91.84. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. The firm has a market cap of $103.78 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 2.80 and a beta of 0.36.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.11. Southern had a return on equity of 12.64% and a net margin of 14.46%.The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.07 billion. During the same quarter last year, the firm earned $1.23 EPS. Southern’s quarterly revenue was up 8.0% on a year-over-year basis. Sell-side analysts expect that Southern Company will post 4.57 earnings per share for the current fiscal year.

Southern Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Monday, May 18th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, May 18th. This is a positive change from Southern’s previous quarterly dividend of $0.74. Southern’s payout ratio is 77.35%.

Insider Activity at Southern

In other news, EVP Christopher Cummiskey sold 6,669 shares of Southern stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $96.55, for a total value of $643,891.95. Following the completion of the transaction, the executive vice president owned 30,800 shares in the company, valued at approximately $2,973,740. This trade represents a 17.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kimberly S. Greene sold 25,000 shares of Southern stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $96.67, for a total value of $2,416,750.00. Following the completion of the transaction, the chief executive officer owned 103,602 shares of the company’s stock, valued at approximately $10,015,205.34. The trade was a 19.44% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by company insiders.

Southern Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.