Aptus Capital Advisors LLC Raises Stock Holdings in Southern Company (The) $SO

Aptus Capital Advisors LLC increased its position in Southern Company (The) (NYSE:SO) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 391,245 shares of the utilities provider’s stock after buying an additional 9,895 shares during the period. Aptus Capital Advisors LLC’s holdings in Southern were worth $34,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strive Asset Management LLC purchased a new position in Southern in the 3rd quarter worth $37,000. Spirepoint Private Client LLC raised its stake in shares of Southern by 13.3% during the 4th quarter. Spirepoint Private Client LLC now owns 97,631 shares of the utilities provider’s stock valued at $8,513,000 after buying an additional 11,460 shares during the last quarter. Caprock Group LLC purchased a new position in shares of Southern during the 3rd quarter valued at about $1,584,000. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in shares of Southern by 243.3% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 20,816 shares of the utilities provider’s stock valued at $1,815,000 after buying an additional 14,753 shares during the last quarter. Finally, Marble Wealth LLC purchased a new position in shares of Southern during the 4th quarter valued at about $4,443,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Price Performance

Shares of Southern stock opened at $93.90 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. Southern Company has a twelve month low of $83.80 and a twelve month high of $100.83. The business has a 50-day moving average price of $93.95 and a 200 day moving average price of $91.95. The firm has a market cap of $105.85 billion, a PE ratio of 23.89, a P/E/G ratio of 2.84 and a beta of 0.34.

Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $8.07 billion. During the same quarter in the previous year, the business earned $1.23 EPS. Southern’s revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts predict that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, May 18th were paid a $0.76 dividend. The ex-dividend date was Monday, May 18th. This represents a $3.04 annualized dividend and a dividend yield of 3.2%. This is a boost from Southern’s previous quarterly dividend of $0.74. Southern’s dividend payout ratio (DPR) is presently 77.35%.

Insider Activity

In related news, CEO Kimberly S. Greene sold 25,000 shares of Southern stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $96.67, for a total value of $2,416,750.00. Following the completion of the transaction, the chief executive officer owned 103,602 shares in the company, valued at $10,015,205.34. The trade was a 19.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher Cummiskey sold 6,669 shares of Southern stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $96.55, for a total value of $643,891.95. Following the completion of the transaction, the executive vice president owned 30,800 shares of the company’s stock, valued at approximately $2,973,740. This represents a 17.80% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SO has been the subject of a number of recent research reports. Truist Financial reduced their price objective on Southern from $103.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, May 29th. Seaport Research Partners lowered Southern from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Weiss Ratings upgraded Southern from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Raymond James Financial reiterated an “outperform” rating and set a $104.00 price objective on shares of Southern in a research note on Friday, May 1st. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Southern in a research note on Friday, February 20th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $99.38.

Southern 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.