Peoples Financial Services CORP. Sells 300 Shares of Southern Co (NYSE:SO)

Peoples Financial Services CORP. reduced its holdings in shares of Southern Co (NYSE:SO) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,950 shares of the utilities provider’s stock after selling 300 shares during the quarter. Peoples Financial Services CORP.’s holdings in Southern were worth $1,434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SO. Norges Bank bought a new position in shares of Southern during the 4th quarter worth approximately $317,444,000. FMR LLC boosted its stake in shares of Southern by 24.1% during the 1st quarter. FMR LLC now owns 12,907,022 shares of the utilities provider’s stock worth $667,035,000 after acquiring an additional 2,503,587 shares during the period. Geode Capital Management LLC boosted its stake in shares of Southern by 10.3% during the 4th quarter. Geode Capital Management LLC now owns 12,763,112 shares of the utilities provider’s stock worth $559,911,000 after acquiring an additional 1,188,667 shares during the period. California Public Employees Retirement System boosted its stake in shares of Southern by 20.6% during the 1st quarter. California Public Employees Retirement System now owns 6,398,661 shares of the utilities provider’s stock worth $330,683,000 after acquiring an additional 1,095,027 shares during the period. Finally, Federated Investors Inc. PA boosted its stake in shares of Southern by 9.6% during the 1st quarter. Federated Investors Inc. PA now owns 9,681,312 shares of the utilities provider’s stock worth $500,330,000 after acquiring an additional 849,842 shares during the period. Institutional investors own 56.63% of the company’s stock.

Shares of NYSE:SO traded down $0.06 during trading on Tuesday, reaching $55.42. 2,957,150 shares of the company traded hands, compared to its average volume of 4,540,021. The business’s 50 day moving average price is $55.56. The company has a market capitalization of $57.60 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 4.06 and a beta of 0.20. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.88 and a quick ratio of 0.69. Southern Co has a 52 week low of $42.50 and a 52 week high of $57.08.

Southern (NYSE:SO) last released its earnings results on Wednesday, May 1st. The utilities provider reported $0.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.70. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.66 billion. Southern had a return on equity of 10.37% and a net margin of 15.03%. The company’s revenue was down 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. As a group, sell-side analysts forecast that Southern Co will post 3.02 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Monday, August 19th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, August 16th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.47%. Southern’s payout ratio is 80.78%.

In other news, CEO Stephen E. Kuczynski sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $56.00, for a total transaction of $112,000.00. Following the completion of the sale, the chief executive officer now directly owns 73,772 shares in the company, valued at approximately $4,131,232. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark A. Crosswhite sold 267,442 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $54.42, for a total value of $14,554,193.64. Following the sale, the chief executive officer now owns 125,727 shares of the company’s stock, valued at $6,842,063.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 750,397 shares of company stock valued at $41,266,682. Corporate insiders own 0.88% of the company’s stock.

Several brokerages have recently commented on SO. ValuEngine downgraded Yext from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. Evercore ISI upgraded Southern from an “in-line” rating to an “outperform” rating in a research note on Friday, May 3rd. Barclays reiterated a “top pick” rating and set a GBX 3,250 ($42.47) target price on shares of in a research note on Wednesday, June 19th. Credit Suisse Group set a $199.00 price target on NextEra Energy and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Zacks Investment Research downgraded HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $49.67.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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