Financial Counselors Inc. Has $16.97 Million Stake in The Southern Company (NYSE:SO)

Financial Counselors Inc. lessened its stake in shares of The Southern Company (NYSE:SO) by 0.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 242,020 shares of the utilities provider’s stock after selling 1,218 shares during the period. Financial Counselors Inc.’s holdings in Southern were worth $16,970,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. VisionPoint Advisory Group LLC bought a new position in shares of Southern in the 2nd quarter valued at $27,000. Intrepid Capital Management Inc. acquired a new position in Southern during the 2nd quarter valued at about $30,000. BKM Wealth Management LLC bought a new position in shares of Southern during the 4th quarter worth approximately $34,000. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Southern in the 4th quarter worth approximately $34,000. Finally, VitalStone Financial LLC bought a new stake in shares of Southern in the 2nd quarter worth approximately $35,000. Institutional investors own 64.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group lowered shares of Southern from a “buy” rating to a “neutral” rating and reduced their price target for the company from $78.00 to $76.00 in a research report on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 target price on shares of Southern in a research note on Wednesday, February 21st. BMO Capital Markets reissued an “outperform” rating and set a $76.00 price target (up previously from $72.00) on shares of Southern in a research report on Monday, April 1st. Barclays cut their target price on shares of Southern from $68.00 to $67.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 17th. Finally, Mizuho lifted their price target on shares of Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Southern has a consensus rating of “Hold” and a consensus target price of $74.14.

Southern Stock Performance

Shares of SO traded down $0.82 during midday trading on Wednesday, hitting $69.77. 8,425,056 shares of the stock traded hands, compared to its average volume of 4,638,189. The Southern Company has a 1-year low of $61.56 and a 1-year high of $75.80. The firm has a market capitalization of $76.37 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 4.37 and a beta of 0.49. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.56 and a current ratio of 0.77. The business’s 50 day moving average price is $68.77 and its two-hundred day moving average price is $68.89.

Southern (NYSE:SO) last issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. The firm had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Southern had a net margin of 15.79% and a return on equity of 11.40%. Southern’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share. Equities research analysts predict that The Southern Company will post 4 EPS for the current fiscal year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.70 per share. The ex-dividend date was Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a yield of 4.01%. Southern’s payout ratio is currently 77.14%.

Insiders Place Their Bets

In related news, insider David P. Poroch sold 10,099 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $69.96, for a total value of $706,526.04. Following the completion of the transaction, the insider now directly owns 28,691 shares in the company, valued at $2,007,222.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $68.92, for a total value of $344,600.00. Following the transaction, the chief executive officer now owns 126,528 shares in the company, valued at $8,720,309.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David P. Poroch sold 10,099 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $69.96, for a total value of $706,526.04. Following the completion of the transaction, the insider now owns 28,691 shares in the company, valued at approximately $2,007,222.36. The disclosure for this sale can be found here. Insiders sold 20,998 shares of company stock valued at $1,446,113 over the last 90 days. 0.37% of the stock is currently owned by company insiders.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.