Gilman Hill Asset Management LLC grew its position in The Southern Company (NYSE:SO – Free Report) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,256 shares of the utilities provider’s stock after purchasing an additional 141 shares during the period. Gilman Hill Asset Management LLC’s holdings in Southern were worth $253,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Voisard Asset Management Group Inc. bought a new stake in shares of Southern during the 4th quarter worth about $31,000. Scarborough Advisors LLC bought a new stake in shares of Southern during the 4th quarter worth about $31,000. Versant Capital Management Inc boosted its stake in shares of Southern by 62.0% during the 1st quarter. Versant Capital Management Inc now owns 444 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 170 shares in the last quarter. Valley National Advisers Inc. boosted its stake in shares of Southern by 63.9% during the 4th quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 205 shares in the last quarter. Finally, Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Southern by 3,628.6% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 522 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 508 shares in the last quarter. 64.10% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Southern
In other Southern news, CEO Anthony L. Wilson sold 6,900 shares of Southern stock in a transaction on Friday, July 5th. The stock was sold at an average price of $77.61, for a total value of $535,509.00. Following the completion of the transaction, the chief executive officer now owns 85,309 shares in the company, valued at approximately $6,620,831.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Anthony L. Wilson sold 6,900 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $77.61, for a total transaction of $535,509.00. Following the completion of the sale, the chief executive officer now owns 85,309 shares in the company, valued at $6,620,831.49. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sloane N. Drake sold 12,000 shares of Southern stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $77.61, for a total value of $931,320.00. Following the sale, the executive vice president now directly owns 16,771 shares of the company’s stock, valued at $1,301,597.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,280 shares of company stock worth $1,678,625. 0.18% of the stock is currently owned by insiders.
Southern Price Performance
Southern (NYSE:SO – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. Southern had a return on equity of 12.88% and a net margin of 17.67%. The firm had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.10 billion. During the same period last year, the firm posted $0.79 EPS. The business’s revenue was up 12.4% on a year-over-year basis. On average, equities analysts anticipate that The Southern Company will post 4.01 EPS for the current year.
Southern Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Monday, August 19th will be given a $0.72 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $2.88 annualized dividend and a yield of 3.32%. Southern’s payout ratio is 74.42%.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the company. Morgan Stanley decreased their price target on Southern from $74.00 to $71.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Wolfe Research downgraded Southern from an “outperform” rating to a “peer perform” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their target price on Southern from $83.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Argus increased their target price on Southern from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, Scotiabank increased their target price on Southern from $77.00 to $87.00 and gave the company a “sector outperform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Southern presently has an average rating of “Hold” and an average target price of $80.93.
Check Out Our Latest Stock Analysis on SO
About Southern
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.
Read More
- Five stocks we like better than Southern
- How to Use High Beta Stocks to Maximize Your Investing Profits
- MarketBeat Week in Review – 8/5 – 8/9
- What Are Growth Stocks and Investing in Them
- Cassava Sciences: A Hot Stock to Trade, Invest, or Avoid?
- How to Invest in Blue Chip Stocks
- The Cannabis Sector: Profitability Takes Center Stage
Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Southern Company (NYSE:SO – Free Report).
Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.