Boston Private Wealth LLC Trims Stake in The Southern Company (NYSE:SO)

Boston Private Wealth LLC trimmed its stake in The Southern Company (NYSE:SO) by 2.3% in the 1st quarter, HoldingsChannel reports. The firm owned 13,966 shares of the utilities provider’s stock after selling 325 shares during the period. Boston Private Wealth LLC’s holdings in The Southern were worth $868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Alpha DNA Investment Management LLC purchased a new stake in shares of The Southern in the 4th quarter worth $26,000. Retirement Group LLC purchased a new stake in The Southern in the 4th quarter worth $27,000. ShoreHaven Wealth Partners LLC purchased a new stake in The Southern in the 4th quarter worth $29,000. Field & Main Bank increased its stake in The Southern by 66.7% in the 4th quarter. Field & Main Bank now owns 500 shares of the utilities provider’s stock worth $31,000 after buying an additional 200 shares in the last quarter. Finally, Canton Hathaway LLC purchased a new stake in The Southern in the 1st quarter worth $31,000. Hedge funds and other institutional investors own 59.09% of the company’s stock.

SO has been the subject of a number of analyst reports. Argus increased their price target on The Southern from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, May 19th. Mizuho cut their price target on The Southern from $61.00 to $59.00 and set an “underperform” rating for the company in a research note on Wednesday. KeyCorp raised their price objective on The Southern from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, April 21st. Credit Suisse Group restated a “buy” rating on shares of The Southern in a research report on Wednesday, May 19th. Finally, Barclays raised their price objective on The Southern from $70.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, May 25th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.08.

In other news, insider Ann P. Daiss sold 5,549 shares of the firm’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $62.75, for a total transaction of $348,199.75. Following the transaction, the insider now directly owns 18,666 shares of the company’s stock, valued at $1,171,291.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen E. Kuczynski sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, April 9th. The stock was sold at an average price of $62.97, for a total transaction of $157,425.00. Following the transaction, the chief executive officer now directly owns 96,651 shares in the company, valued at $6,086,113.47. The disclosure for this sale can be found here. In the last three months, insiders sold 42,474 shares of company stock valued at $2,778,346. 0.43% of the stock is owned by insiders.

Shares of NYSE:SO opened at $63.88 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 1.41. The Southern Company has a 12 month low of $50.40 and a 12 month high of $66.93. The firm has a 50-day simple moving average of $64.45. The company has a market cap of $67.69 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 3.93 and a beta of 0.44.

The Southern (NYSE:SO) last announced its quarterly earnings data on Thursday, April 29th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.44 billion. The Southern had a net margin of 15.99% and a return on equity of 11.28%. As a group, equities research analysts predict that The Southern Company will post 3.33 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 7th. Shareholders of record on Monday, May 17th were paid a $0.66 dividend. The ex-dividend date was Friday, May 14th. This represents a $2.64 annualized dividend and a yield of 4.13%. This is an increase from The Southern’s previous quarterly dividend of $0.64. The Southern’s dividend payout ratio (DPR) is presently 81.23%.

About The Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy and battery energy storage 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, wholesale gas services, and gas pipeline investments operations.

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Institutional Ownership by Quarter for The Southern (NYSE:SO)

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