The Southern Company (NYSE:SO) Shares Purchased by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. boosted its holdings in The Southern Company (NYSE:SO) by 1.6% during the 4th quarter, Holdings Channel reports. The fund owned 43,793 shares of the utilities provider’s stock after acquiring an additional 687 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Southern were worth $3,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Insigneo Advisory Services LLC increased its position in Southern by 3.1% in the 3rd quarter. Insigneo Advisory Services LLC now owns 4,883 shares of the utilities provider’s stock valued at $316,000 after acquiring an additional 146 shares during the period. Good Life Advisors LLC increased its position in shares of Southern by 0.8% during the 4th quarter. Good Life Advisors LLC now owns 19,956 shares of the utilities provider’s stock valued at $1,399,000 after purchasing an additional 149 shares during the period. Insight Inv LLC increased its position in shares of Southern by 1.4% during the 4th quarter. Insight Inv LLC now owns 10,530 shares of the utilities provider’s stock valued at $738,000 after purchasing an additional 150 shares during the period. Patten & Patten Inc. TN increased its position in shares of Southern by 0.7% during the 4th quarter. Patten & Patten Inc. TN now owns 20,736 shares of the utilities provider’s stock valued at $1,454,000 after purchasing an additional 150 shares during the period. Finally, CNB Bank increased its position in shares of Southern by 23.9% during the 4th quarter. CNB Bank now owns 778 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 150 shares during the period. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Stock Down 1.6 %

Shares of Southern stock traded down $1.16 during midday trading on Friday, hitting $73.21. The company’s stock had a trading volume of 5,478,762 shares, compared to its average volume of 4,829,927. The firm has a market capitalization of $80.14 billion, a P/E ratio of 20.17, a PEG ratio of 4.66 and a beta of 0.49. The stock has a 50-day simple moving average of $69.64 and a 200-day simple moving average of $69.36. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 1.62. The Southern Company has a 1-year low of $61.56 and a 1-year high of $75.80.

Southern (NYSE:SO) last announced its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. Southern had a return on equity of 11.40% and a net margin of 15.79%. The business had revenue of $6.05 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period last year, the company earned $0.26 earnings per share. Southern’s quarterly revenue was down 14.2% compared to the same quarter last year. As a group, sell-side analysts expect that The Southern Company will post 3.99 earnings per share for the current year.

Southern Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.93%. This is a positive change from Southern’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, May 17th. Southern’s dividend payout ratio (DPR) is currently 77.14%.

Analysts Set New Price Targets

SO has been the topic of several research analyst reports. UBS Group cut Southern from a “buy” rating to a “neutral” rating and lowered their price target for the company from $78.00 to $76.00 in a research report on Thursday, April 4th. Bank of America lifted their price target on Southern from $70.00 to $73.00 and gave the company a “neutral” rating in a research report on Tuesday. Mizuho lifted their price target on Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. BMO Capital Markets reissued an “outperform” rating and set a $76.00 price objective (up from $72.00) on shares of Southern in a research note on Monday, April 1st. Finally, Scotiabank reduced their price objective on Southern from $80.00 to $77.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $74.36.

Insider Buying and Selling

In other Southern news, EVP Christopher Cummiskey sold 899 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total transaction of $60,286.94. Following the transaction, the executive vice president now directly owns 22,502 shares in the company, valued at $1,508,984.12. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern 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 directly owns 126,528 shares in the company, valued at $8,720,309.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher Cummiskey sold 899 shares of Southern stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total value of $60,286.94. Following the completion of the transaction, the executive vice president now owns 22,502 shares in the company, valued at $1,508,984.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,899 shares of company stock worth $739,587. Corporate insiders own 0.18% of the company’s stock.

About Southern

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.