The Southern Company (NYSE:SO) Shares Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC raised its holdings in shares of The Southern Company (NYSE:SO) by 15.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,250 shares of the utilities provider’s stock after purchasing an additional 1,236 shares during the period. Chicago Partners Investment Group LLC’s holdings in Southern were worth $871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new stake in Southern in the 1st quarter worth approximately $39,000. Cedar Wealth Management LLC lifted its stake in shares of Southern by 63.2% during the first quarter. Cedar Wealth Management LLC now owns 545 shares of the utilities provider’s stock worth $39,000 after buying an additional 211 shares during the period. TruNorth Capital Management LLC purchased a new stake in shares of Southern during the second quarter valued at $39,000. Versant Capital Management Inc increased its position in shares of Southern by 31.8% in the 2nd quarter. Versant Capital Management Inc now owns 585 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 141 shares during the period. Finally, West Branch Capital LLC lifted its position in Southern by 34.7% during the 3rd 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. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Stock Performance

Shares of SO stock opened at $88.54 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66. The Southern Company has a 12-month low of $65.80 and a 12-month high of $94.45. The business’s 50 day moving average is $89.74 and its two-hundred day moving average is $83.35. The company has a market capitalization of $96.81 billion, a P/E ratio of 20.59, a P/E/G ratio of 3.26 and a beta of 0.52.

Southern (NYSE:SO) last announced its earnings results on Thursday, October 31st. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $7.14 billion. Southern had a return on equity of 12.90% and a net margin of 17.87%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 EPS. Analysts expect that The Southern Company will post 4.02 EPS for the current fiscal year.

Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $0.72 per share. The ex-dividend date is Monday, November 18th. This represents a $2.88 annualized dividend and a dividend yield of 3.25%. Southern’s dividend payout ratio (DPR) is presently 66.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SO shares. Wolfe Research lowered Southern from an “outperform” rating to a “peer perform” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised their price target on shares of Southern from $83.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Morgan Stanley upped their price objective on shares of Southern from $78.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Jefferies Financial Group began coverage on shares of Southern in a report on Friday, September 20th. They set a “hold” rating and a $94.00 target price for the company. Finally, Barclays upped their price target on shares of Southern from $71.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $89.27.

Insider Activity at Southern

In other Southern news, EVP Bryan D. Anderson sold 6,565 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $89.54, for a total transaction of $587,830.10. Following the completion of the sale, the executive vice president now directly owns 44,467 shares in the company, valued at approximately $3,981,575.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Southern news, EVP Bryan D. Anderson sold 6,565 shares of Southern stock in a transaction on Friday, September 6th. The shares were sold at an average price of $89.54, for a total transaction of $587,830.10. Following the sale, the executive vice president now owns 44,467 shares of the company’s stock, valued at $3,981,575.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Y. Kerr II sold 30,000 shares of the 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 owns 145,088 shares of the company’s stock, valued at $13,005,688.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

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.