Bartlett & Co. LLC Purchases 14 Shares of Southern Company (The) (SO)

Bartlett & Co. LLC increased its stake in shares of Southern Company (The) (NYSE:SO) by 0.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,799 shares of the utilities provider’s stock after buying an additional 14 shares during the period. Bartlett & Co. LLC’s holdings in Southern Company (The) were worth $239,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SO. Livingston Group Asset Management CO operating as Southport Capital Management boosted its position in Southern Company (The) by 126.3% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 10,513 shares of the utilities provider’s stock valued at $523,000 after buying an additional 5,867 shares during the last quarter. Court Place Advisors LLC boosted its position in Southern Company (The) by 1.6% in the first quarter. Court Place Advisors LLC now owns 17,090 shares of the utilities provider’s stock valued at $851,000 after buying an additional 262 shares during the last quarter. Duncker Streett & Co. Inc. boosted its position in Southern Company (The) by 7.9% in the first quarter. Duncker Streett & Co. Inc. now owns 16,141 shares of the utilities provider’s stock valued at $803,000 after buying an additional 1,182 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in Southern Company (The) by 23.9% in the first quarter. Glen Harbor Capital Management LLC now owns 572,740 shares of the utilities provider’s stock valued at $28,511,000 after buying an additional 110,404 shares during the last quarter. Finally, Sit Investment Associates Inc. boosted its stake in shares of Southern Company (The) by 18.1% in the first quarter. Sit Investment Associates Inc. now owns 483,625 shares of the utilities provider’s stock worth $24,075,000 after buying an additional 74,200 shares in the last quarter. 53.88% of the stock is owned by hedge funds and other institutional investors.

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

Southern Company (NYSE SO) traded down 0.35% during trading on Friday, reaching $51.53. 8,791,457 shares of the company’s stock traded hands. The firm has a market capitalization of $51.25 billion, a PE ratio of 19.27 and a beta of 0.11. Southern Company has a one year low of $46.20 and a one year high of $54.64. The company has a 50-day moving average price of $50.32 and a 200 day moving average price of $49.53.

Southern Company (The) (NYSE:SO) last posted its earnings results on Wednesday, May 3rd. The utilities provider reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.08. Southern Company (The) had a net margin of 12.38% and a return on equity of 11.37%. The company had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.58 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. Southern Company (The)’s revenue for the quarter was up 44.6% compared to the same quarter last year. On average, analysts anticipate that Southern Company will post $2.97 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Monday, May 15th were given a $0.58 dividend. The ex-dividend date was Thursday, May 11th. This represents a $2.32 dividend on an annualized basis and a yield of 4.50%. This is a boost from Southern Company (The)’s previous quarterly dividend of $0.56. Southern Company (The)’s dividend payout ratio is presently 85.29%.

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A number of analysts have commented on SO shares. Jefferies Group LLC raised shares of Southern Company (The) from a “hold” rating to a “buy” rating and upped their target price for the company from $50.00 to $56.00 in a report on Friday, March 3rd. Argus cut shares of Southern Company (The) from a “buy” rating to a “hold” rating in a report on Friday, March 3rd. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 target price on shares of Southern Company (The) in a report on Thursday, March 30th. Deutsche Bank AG reduced their target price on shares of Southern Company (The) from $52.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, April 11th. Finally, Mizuho reiterated a “neutral” rating and issued a $49.50 price target on shares of Southern Company (The) in a research report on Wednesday, April 19th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $51.79.

In other Southern Company (The) news, CEO Mark Lantrip sold 25,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $51.50, for a total value of $1,287,500.00. Following the transaction, the chief executive officer now owns 31,080 shares of the company’s stock, valued at $1,600,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Art P. Beattie sold 46,940 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $51.50, for a total transaction of $2,417,410.00. Following the completion of the transaction, the insider now directly owns 59,493 shares in the company, valued at approximately $3,063,889.50. The disclosure for this sale can be found here. Insiders sold 145,549 shares of company stock worth $7,395,190 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

About Southern Company (The)

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

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