Telos Capital Management Inc. Trims Stock Holdings in The Southern Company (NYSE:SO)

Telos Capital Management Inc. lessened its position in shares of The Southern Company (NYSE:SO) by 11.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,690 shares of the utilities provider’s stock after selling 8,426 shares during the quarter. Telos Capital Management Inc.’s holdings in Southern were worth $6,014,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in Southern during the first quarter valued at $39,000. Cedar Wealth Management LLC raised its stake in shares of Southern by 63.2% during the 1st quarter. Cedar Wealth Management LLC now owns 545 shares of the utilities provider’s stock valued at $39,000 after buying an additional 211 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Southern in the 2nd quarter valued at about $39,000. Versant Capital Management Inc boosted its stake in shares of Southern by 31.8% in the second quarter. Versant Capital Management Inc now owns 585 shares of the utilities provider’s stock worth $45,000 after buying an additional 141 shares during the last quarter. Finally, West Branch Capital LLC grew its holdings in Southern by 34.7% during the third quarter. West Branch Capital LLC now owns 501 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 129 shares during the period. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Price Performance

Shares of NYSE SO opened at $92.73 on Tuesday. The firm has a 50-day simple moving average of $88.92 and a 200-day simple moving average of $81.95. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $101.39 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 3.34 and a beta of 0.52. The Southern Company has a 52 week low of $64.53 and a 52 week high of $93.73.

Southern (NYSE:SO) last released its earnings results on Thursday, August 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.19. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.10 billion. Southern had a net margin of 17.67% and a return on equity of 12.88%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS. On average, equities analysts predict that The Southern Company will post 4.02 earnings per share for the current fiscal year.

Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Monday, November 18th. Southern’s dividend payout ratio (DPR) is presently 68.57%.

Insider Transactions at Southern

In related news, CEO James Y. Kerr II sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the completion of the sale, the chief executive officer now directly owns 145,088 shares in the company, valued at approximately $13,005,688.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $88.99, for a total transaction of $211,796.20. Following the completion of the sale, the executive vice president now directly owns 12,500 shares of the company’s stock, valued at approximately $1,112,375. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Y. Kerr II sold 30,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the completion of the transaction, the chief executive officer now directly owns 145,088 shares in the company, valued at $13,005,688.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,945 shares of company stock worth $3,488,826 in the last quarter. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SO. Wolfe Research lowered Southern from an “outperform” rating to a “peer perform” rating in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Southern in a report on Friday, September 20th. They set a “hold” rating and a $94.00 price target on the stock. Mizuho cut shares of Southern from an “outperform” rating to a “neutral” rating and set a $90.00 price objective for the company. in a report on Monday, September 16th. Barclays increased their target price on shares of Southern from $71.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Finally, UBS Group lifted their price target on Southern from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.07.

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.