Kovack Advisors Inc. Acquires 1,802 Shares of The Southern Company (NYSE:SO)

Kovack Advisors Inc. raised its holdings in The Southern Company (NYSE:SO) by 13.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,769 shares of the utilities provider’s stock after buying an additional 1,802 shares during the period. Kovack Advisors Inc.’s holdings in Southern were worth $1,036,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. BKM Wealth Management LLC bought a new position in shares of Southern during the fourth quarter worth approximately $34,000. Valley National Advisers Inc. increased its stake in 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 during the period. CNB Bank increased its stake in Southern by 1,021.4% during the 3rd quarter. CNB Bank now owns 628 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 572 shares during the period. Your Advocates Ltd. LLP bought a new position in Southern during the 3rd quarter worth $42,000. Finally, Cetera Trust Company N.A bought a new position in Southern during the 4th quarter worth $46,000. Institutional investors own 64.10% of the company’s stock.

Southern Stock Down 1.6 %

Southern stock traded down $1.16 during midday trading on Friday, reaching $73.21. The stock had a trading volume of 5,478,762 shares, compared to its average volume of 4,829,927. The Southern Company has a 12 month low of $61.56 and a 12 month high of $75.80. The company has a market capitalization of $80.14 billion, a P/E ratio of 20.17, a PEG ratio of 4.66 and a beta of 0.49. The company has a fifty day moving average price of $69.64 and a two-hundred day moving average price of $69.36. The company has a current ratio of 0.77, a quick ratio of 0.56 and a debt-to-equity ratio of 1.62.

Southern (NYSE:SO) last released its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.90 billion. Southern had a return on equity of 11.40% and a net margin of 15.79%. The company’s quarterly revenue was down 14.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. As a group, equities analysts expect that The Southern Company will post 3.99 EPS for the current fiscal year.

Southern Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Monday, May 20th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Southern’s previous quarterly dividend of $0.70. Southern’s payout ratio is presently 77.14%.

Insider Transactions at Southern

In other news, CEO Stephen E. Kuczynski sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $66.94, for a total value of $334,700.00. Following the transaction, the chief executive officer now owns 129,552 shares in the company, valued at approximately $8,672,210.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Christopher Cummiskey sold 899 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total value of $60,286.94. Following the transaction, the executive vice president now owns 22,502 shares in the company, valued at $1,508,984.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $66.94, for a total value of $334,700.00. Following the completion of the transaction, the chief executive officer now owns 129,552 shares in the company, valued at approximately $8,672,210.88. The disclosure for this sale can be found here. Insiders have sold 10,899 shares of company stock worth $739,587 in the last 90 days. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. Mizuho raised their target price on Southern from $73.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Southern in a report on Wednesday, February 21st. Barclays raised their price objective on Southern from $65.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, Bank of America raised their price objective on Southern from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.36.

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.