Requisite Capital Management LLC Takes $512,000 Position in Southern Company (The) $SO

Requisite Capital Management LLC acquired a new stake in Southern Company (The) (NYSE:SO) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 5,870 shares of the utilities provider’s stock, valued at approximately $512,000.

Several other institutional investors have also added to or reduced their stakes in SO. Cloud Capital Management LLC bought a new stake in Southern in the 3rd quarter valued at $25,000. Grey Fox Wealth Advisors LLC bought a new stake in Southern during the 3rd quarter worth about $29,000. Triumph Capital Management bought a new stake in Southern during the 3rd quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Southern during the 4th quarter worth about $31,000. Finally, Legacy Wealth Managment LLC ID bought a new stake in Southern during the 4th quarter worth about $33,000. 64.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Jefferies Financial Group reissued a “hold” rating and set a $102.00 price target on shares of Southern in a research report on Monday, February 23rd. Scotiabank boosted their price target on shares of Southern from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Morgan Stanley cut their price target on shares of Southern from $94.00 to $92.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 21st. TD Cowen boosted their price objective on shares of Southern from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Finally, Citigroup reiterated a “buy” rating on shares of Southern in a research note on Friday, April 10th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $99.85.

Insider Transactions at Southern

In other news, EVP Christopher Cummiskey sold 6,669 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $96.55, for a total value of $643,891.95. Following the sale, the executive vice president directly owned 30,800 shares in the company, valued at approximately $2,973,740. This trade represents a 17.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kimberly S. Greene sold 25,000 shares of the business’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the sale, the chief executive officer directly owned 103,602 shares in the company, valued at approximately $10,015,205.34. The trade was a 19.44% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by corporate insiders.

Southern Stock Performance

Shares of NYSE:SO opened at $92.56 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. The firm has a market cap of $104.35 billion, a PE ratio of 23.55, a PEG ratio of 2.80 and a beta of 0.36. The company’s 50 day moving average price is $95.34 and its two-hundred day moving average price is $91.77. Southern Company has a 12-month low of $83.80 and a 12-month high of $100.83.

Southern (NYSE:SO) last issued its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.11. Southern had a return on equity of 12.64% and a net margin of 14.46%.The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same quarter last year, the business posted $1.23 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. Equities research analysts predict that Southern Company will post 4.57 earnings per share for the current year.

Southern Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, May 18th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, May 18th. This is a positive change from Southern’s previous quarterly dividend of $0.74. This represents a $3.04 annualized dividend and a yield of 3.3%. Southern’s payout ratio is presently 75.32%.

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.