Donaldson Capital Management LLC Decreases Stock Holdings in The Southern Company (NYSE:SO)

Donaldson Capital Management LLC reduced its stake in shares of The Southern Company (NYSE:SOGet Rating) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,862 shares of the utilities provider’s stock after selling 1,482 shares during the quarter. Donaldson Capital Management LLC’s holdings in Southern were worth $1,513,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Landmark Wealth Management LLC purchased a new stake in shares of Southern during the 1st quarter worth $25,000. IndexIQ Advisors LLC acquired a new position in Southern during the 1st quarter valued at about $25,000. CarsonAllaria Wealth Management Ltd. acquired a new position in Southern during the 4th quarter valued at about $32,000. Rise Advisors LLC acquired a new position in Southern during the 4th quarter valued at about $34,000. Finally, Hardy Reed LLC acquired a new position in shares of Southern in the first quarter valued at about $36,000. 62.20% of the stock is currently owned by hedge funds and other institutional investors.

Southern Stock Performance

NYSE SO opened at $79.41 on Friday. The company has a market cap of $84.41 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 5.48 and a beta of 0.50. The stock’s 50 day simple moving average is $75.80 and its 200-day simple moving average is $73.12. The Southern Company has a 1-year low of $60.99 and a 1-year high of $80.57. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.85 and a quick ratio of 0.67.

Southern (NYSE:SOGet Rating) last released its earnings results on Thursday, July 28th. The utilities provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.23. The business had revenue of $7.21 billion for the quarter, compared to the consensus estimate of $5.31 billion. Southern had a return on equity of 12.09% and a net margin of 12.13%. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 earnings per share. As a group, equities research analysts anticipate that The Southern Company will post 3.63 EPS for the current fiscal year.

Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Monday, August 15th were issued a $0.68 dividend. The ex-dividend date was Friday, August 12th. This represents a $2.72 annualized dividend and a dividend yield of 3.43%. Southern’s dividend payout ratio is presently 95.77%.

Wall Street Analyst Weigh In

SO has been the topic of a number of research reports. Seaport Res Ptn reissued a “buy” rating on shares of Southern in a report on Thursday, June 30th. Morgan Stanley upped their target price on Southern from $63.00 to $69.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 23rd. The Goldman Sachs Group upped their target price on Southern from $53.00 to $61.00 and gave the stock a “sell” rating in a research note on Monday, August 22nd. Guggenheim upped their target price on Southern from $76.00 to $80.00 in a research note on Thursday, July 21st. Finally, Barclays lowered their target price on Southern from $82.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, July 18th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $74.64.

Insider Activity at Southern

In related news, CEO Stephen E. Kuczynski sold 14,500 shares of the stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $72.92, for a total value of $1,057,340.00. Following the completion of the sale, the chief executive officer now owns 115,284 shares of the company’s stock, valued at $8,406,509.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Southern news, EVP James Y. Kerr II sold 25,000 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $76.00, for a total transaction of $1,900,000.00. Following the completion of the sale, the executive vice president now owns 136,987 shares of the company’s stock, valued at $10,411,012. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Stephen E. Kuczynski sold 14,500 shares of the firm’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $72.92, for a total value of $1,057,340.00. Following the sale, the chief executive officer now directly owns 115,284 shares of the company’s stock, valued at approximately $8,406,509.28. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Southern Company Profile

(Get Rating)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. 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, wholesale gas services, and gas pipeline investments operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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