SG Americas Securities LLC Sells 317,820 Shares of Southern Company (The) $SO

SG Americas Securities LLC reduced its holdings in shares of Southern Company (The) (NYSE:SO) by 50.5% in the fourth quarter, HoldingsChannel reports. The fund owned 311,075 shares of the utilities provider’s stock after selling 317,820 shares during the period. SG Americas Securities LLC’s holdings in Southern were worth $27,126,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Capital World Investors increased its stake in shares of Southern by 320.3% during the third quarter. Capital World Investors now owns 33,548,852 shares of the utilities provider’s stock valued at $3,179,425,000 after purchasing an additional 25,567,431 shares in the last quarter. Norges Bank purchased a new position in shares of Southern during the second quarter valued at approximately $1,179,715,000. Soroban Capital Partners LP boosted its position in shares of Southern by 83.8% in the 2nd quarter. Soroban Capital Partners LP now owns 4,097,422 shares of the utilities provider’s stock worth $376,266,000 after purchasing an additional 1,867,912 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Southern by 1,518.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,044,101 shares of the utilities provider’s stock worth $95,880,000 after buying an additional 979,587 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of Southern by 790.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 811,737 shares of the utilities provider’s stock worth $74,542,000 after buying an additional 720,589 shares during the last quarter. Institutional investors own 64.10% of the company’s stock.

Insider Activity

In other news, EVP Christopher Cummiskey sold 6,669 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $96.55, for a total transaction of $643,891.95. Following the sale, the executive vice president owned 30,800 shares of the company’s stock, valued at $2,973,740. This trade represents a 17.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.

Southern Stock Performance

Shares of SO opened at $95.40 on Friday. The company has a market cap of $105.05 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 2.85 and a beta of 0.44. The business’s fifty day simple moving average is $93.29 and its two-hundred day simple moving average is $91.80. Southern Company has a 12 month low of $83.09 and a 12 month high of $100.83. The company has a current ratio of 0.65, a quick ratio of 0.47 and a debt-to-equity ratio of 1.69.

Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, February 18th. The utilities provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Southern had a return on equity of 12.52% and a net margin of 14.69%.The business had revenue of $6.98 billion during the quarter, compared to analysts’ expectations of $6.41 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts anticipate that Southern Company will post 4.29 earnings per share for the current fiscal year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.74 per share. The ex-dividend date was Tuesday, February 17th. This represents a $2.96 annualized dividend and a yield of 3.1%. Southern’s dividend payout ratio is currently 75.32%.

Analysts Set New Price Targets

SO has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern in a research note on Wednesday, January 21st. JPMorgan Chase & Co. cut their target price on Southern from $104.00 to $93.00 and set a “neutral” rating on the stock in a research note on Monday, December 15th. Morgan Stanley restated an “underweight” rating on shares of Southern in a report on Friday, February 20th. TD Cowen lifted their price target on Southern from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Finally, Wells Fargo & Company set a $96.00 price target on shares of Southern and gave the stock an “equal weight” rating in a research note on Friday, February 20th. Six investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $98.08.

Southern Company Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.