ForthRight Wealth Management LLC Reduces Position in The Southern Company (NYSE:SO)

ForthRight Wealth Management LLC decreased its stake in shares of The Southern Company (NYSE:SOFree Report) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,486 shares of the utilities provider’s stock after selling 298 shares during the period. ForthRight Wealth Management LLC’s holdings in Southern were worth $876,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SO. VisionPoint Advisory Group LLC purchased a new stake in shares of Southern in the second quarter valued at $27,000. Intrepid Capital Management Inc. purchased a new stake in shares of Southern in the second quarter valued at $30,000. BKM Wealth Management LLC purchased a new stake in shares of Southern in the fourth quarter valued at $34,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Southern in the fourth quarter valued at $34,000. Finally, VitalStone Financial LLC purchased a new stake in shares of Southern in the second quarter valued at $35,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Insider Activity at Southern

In other Southern news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $71.99, for a total transaction of $359,950.00. Following the sale, the chief executive officer now owns 101,284 shares in the company, valued at $7,291,435.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Southern news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $71.99, for a total transaction of $359,950.00. Following the sale, the chief executive officer now owns 101,284 shares in the company, valued at $7,291,435.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David P. Poroch sold 10,099 shares of the stock in a transaction that occurred 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 sale, the insider now owns 28,691 shares in the company, valued at $2,007,222.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,998 shares of company stock valued at $1,806,063. Insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

SO has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on Southern from $75.00 to $72.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. Citigroup assumed coverage on Southern in a research report on Friday, December 8th. They set a “buy” rating and a $82.00 price target for the company. Mizuho boosted their price target on Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday. 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. Finally, Barclays lowered their price target on Southern from $68.00 to $67.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Southern has a consensus rating of “Hold” and an average price target of $74.00.

View Our Latest Report on SO

Southern Price Performance

Shares of NYSE SO opened at $70.98 on Thursday. The Southern Company has a 1-year low of $61.56 and a 1-year high of $75.80. The business has a 50-day moving average of $68.64 and a 200-day moving average of $68.89. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.77 and a quick ratio of 0.56. The company has a market capitalization of $77.70 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 4.45 and a beta of 0.49.

Southern (NYSE:SOGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The firm had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.90 billion. Southern had a return on equity of 11.40% and a net margin of 15.79%. Southern’s revenue for the quarter was down 14.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 earnings per share. On average, equities analysts anticipate that The Southern Company will post 4 EPS for the current fiscal year.

Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Friday, February 16th. Southern’s dividend payout ratio is currently 77.14%.

About Southern

(Free Report)

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.

Read More

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.