FinTrust Capital Advisors LLC Reduces Stake in Southern Co (NYSE:SO)

FinTrust Capital Advisors LLC reduced its stake in Southern Co (NYSE:SO) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,624 shares of the utilities provider’s stock after selling 345 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Southern were worth $532,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Thor Advisors LLC purchased a new position in shares of Southern during the 1st quarter worth $26,000. Atlantic Trust LLC purchased a new position in shares of Southern during the 2nd quarter worth $28,000. Tompkins Financial Corp purchased a new position in shares of Southern during the 1st quarter worth $28,000. Lee Financial Co grew its holdings in shares of Southern by 144.4% during the 1st quarter. Lee Financial Co now owns 550 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 325 shares during the period. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Southern by 200.0% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 600 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 400 shares during the period. Institutional investors own 56.66% of the company’s stock.

Southern stock traded up $0.45 during midday trading on Thursday, reaching $57.51. 435,309 shares of the stock traded hands, compared to its average volume of 4,297,851. The business has a 50-day simple moving average of $56.25. Southern Co has a 12-month low of $42.50 and a 12-month high of $58.78. The firm has a market capitalization of $61.05 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 4.30 and a beta of 0.18. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.59 and a current ratio of 0.76.

Southern (NYSE:SO) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. Southern had a return on equity of 10.04% and a net margin of 20.18%. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same period last year, the business posted $0.80 EPS. Southern’s revenue for the quarter was down 9.4% on a year-over-year basis. On average, analysts expect that Southern Co will post 3.03 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Monday, August 19th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Friday, August 16th. Southern’s dividend payout ratio is currently 80.78%.

A number of equities analysts have recently weighed in on SO shares. Barclays reiterated a “hold” rating and set a $57.00 price target on shares of Southern in a report on Wednesday, June 19th. KeyCorp started coverage on Southern in a report on Tuesday, June 4th. They set a “sector weight” rating for the company. Bank of America lowered their price target on Southern from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, August 1st. ValuEngine cut Southern from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Mizuho raised their target price on Southern from $48.50 to $55.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. Southern has an average rating of “Hold” and a consensus target price of $52.10.

In other Southern news, EVP James Y. Kerr II sold 25,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $58.16, for a total value of $1,454,000.00. Following the sale, the executive vice president now owns 67,655 shares of the company’s stock, valued at approximately $3,934,814.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William P. Bowers sold 164,377 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $56.01, for a total value of $9,206,755.77. Following the completion of the sale, the chief executive officer now directly owns 181,005 shares in the company, valued at approximately $10,138,090.05. The disclosure for this sale can be found here. Insiders sold a total of 769,547 shares of company stock worth $42,411,331 in the last ninety days. 0.88% of the stock is owned by corporate insiders.

Southern Company Profile

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.

Read More: Exchange-Traded Funds (ETFs)

Institutional Ownership by Quarter for Southern (NYSE:SO)

Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.