Delta Global Management LP Buys New Shares in Southern Company (The) $SO

Delta Global Management LP bought a new stake in Southern Company (The) (NYSE:SO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,147 shares of the utilities provider’s stock, valued at approximately $2,367,000.

Several other hedge funds have also recently made changes to their positions in the company. Strive Asset Management LLC purchased a new stake in Southern in the third quarter valued at $37,000. Spirepoint Private Client LLC boosted its holdings in Southern by 13.3% in the fourth quarter. Spirepoint Private Client LLC now owns 97,631 shares of the utilities provider’s stock valued at $8,513,000 after purchasing an additional 11,460 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in Southern by 243.3% in the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 20,816 shares of the utilities provider’s stock valued at $1,815,000 after purchasing an additional 14,753 shares during the last quarter. Marble Wealth LLC purchased a new stake in Southern in the fourth quarter valued at $4,443,000. Finally, Wolverine Asset Management LLC purchased a new stake in Southern in the fourth quarter valued at $2,462,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Christopher Cummiskey sold 6,669 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $96.55, for a total transaction 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. The trade was a 17.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kimberly S. Greene sold 25,000 shares of the business’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following 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 disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company’s stock.

Southern Stock Down 0.2%

Shares of NYSE SO opened at $93.82 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.65 and a quick ratio of 0.45. The company has a market capitalization of $105.76 billion, a P/E ratio of 23.87, a P/E/G ratio of 2.84 and a beta of 0.34. The company has a 50 day simple moving average of $93.87 and a 200-day simple moving average of $92.00. Southern Company has a 1 year low of $83.80 and a 1 year high of $100.83.

Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, topping 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 company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts predict that Southern Company will post 4.58 earnings per share for the current year.

Southern Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, May 18th were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.2%. This is a positive change from Southern’s previous quarterly dividend of $0.74. The ex-dividend date was Monday, May 18th. Southern’s payout ratio is presently 77.35%.

Analyst Ratings Changes

Several research firms have commented on SO. Seaport Research Partners lowered shares of Southern from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Barclays raised their price target on shares of Southern from $88.00 to $99.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Citigroup reaffirmed a “buy” rating on shares of Southern in a research note on Friday, April 10th. Scotiabank raised their price target on shares of Southern from $101.00 to $103.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. Finally, Weiss Ratings raised shares of Southern from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Seven equities research 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 MarketBeat.com, Southern currently has a consensus rating of “Hold” and a consensus price target of $99.38.

About Southern

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.