Tufton Capital Management Reduces Holdings in Southern Company (The) (SO)

Tufton Capital Management cut its holdings in Southern Company (The) (NYSE:SO) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,573 shares of the utilities provider’s stock after selling 95 shares during the quarter. Tufton Capital Management’s holdings in Southern Company (The) were worth $219,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Symmetry Partners LLC acquired a new stake in Southern Company (The) during the 1st quarter worth about $103,000. Stuart Chaussee & Associates Inc. raised its holdings in Southern Company (The) by 358.8% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock worth $111,000 after buying an additional 1,740 shares during the period. IHT Wealth Management LLC raised its holdings in Southern Company (The) by 15.3% during the 1st quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock worth $115,000 after buying an additional 302 shares during the period. AlphaMark Advisors LLC raised its holdings in Southern Company (The) by 115.7% during the 1st quarter. AlphaMark Advisors LLC now owns 2,349 shares of the utilities provider’s stock worth $117,000 after buying an additional 1,260 shares during the period. Finally, Ruggie Capital Group raised its holdings in Southern Company (The) by 228.0% during the 1st quarter. Ruggie Capital Group now owns 2,578 shares of the utilities provider’s stock worth $128,000 after buying an additional 1,792 shares during the period. Hedge funds and other institutional investors own 53.27% of the company’s stock.

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Southern Company (NYSE SO) opened at 50.64 on Friday. The firm’s 50-day moving average price is $48.86 and its 200 day moving average price is $49.47. Southern Company has a 1-year low of $46.20 and a 1-year high of $53.73. The stock has a market cap of $50.61 billion, a PE ratio of 83.29 and a beta of 0.13.

Southern Company (The) (NYSE:SO) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.23 billion. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. Southern Company (The)’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period last year, the company earned $0.74 earnings per share. Equities research analysts expect that Southern Company will post $2.94 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $2.32 annualized dividend and a dividend yield of 4.58%. Southern Company (The)’s dividend payout ratio is currently 346.27%.

In other news, EVP Christopher C. Womack sold 75,144 shares of Southern Company (The) stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the completion of the transaction, the executive vice president now directly owns 85,298 shares in the company, valued at approximately $4,204,338.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Several research firms have issued reports on SO. J P Morgan Chase & Co began coverage on Southern Company (The) in a report on Tuesday, August 8th. They set an “overweight” rating and a $16.78 price objective on the stock. Credit Suisse Group upgraded Southern Company (The) from an “underperform” rating to a “neutral” rating in a report on Thursday, August 3rd. Citigroup Inc. boosted their price objective on Southern Company (The) from $42.00 to $43.00 and gave the stock a “sell” rating in a report on Wednesday, July 26th. Morgan Stanley set a $50.00 price objective on Southern Company (The) and gave the stock a “sell” rating in a report on Thursday, August 10th. Finally, Deutsche Bank AG upgraded Southern Company (The) from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $52.00 in a report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $49.63.

Southern Company (The) Profile

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.

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

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