KPP Advisory Services LLC Lowers Holdings in The Southern Company (NYSE:SO)

KPP Advisory Services LLC reduced its position in shares of The Southern Company (NYSE:SOFree Report) by 4.2% during the 4th quarter, HoldingsChannel reports. The fund owned 9,208 shares of the utilities provider’s stock after selling 407 shares during the period. KPP Advisory Services LLC’s holdings in Southern were worth $646,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. American Trust Investment Advisors LLC boosted its stake in shares of Southern by 1.6% during the 4th quarter. American Trust Investment Advisors LLC now owns 52,982 shares of the utilities provider’s stock worth $3,715,000 after acquiring an additional 837 shares in the last quarter. Sollinda Capital Management LLC purchased a new stake in shares of Southern during the 4th quarter worth about $380,000. State of Tennessee Treasury Department boosted its stake in shares of Southern by 2.6% during the 4th quarter. State of Tennessee Treasury Department now owns 514,766 shares of the utilities provider’s stock worth $36,095,000 after acquiring an additional 12,849 shares in the last quarter. XML Financial LLC boosted its stake in shares of Southern by 40.1% during the 4th quarter. XML Financial LLC now owns 13,270 shares of the utilities provider’s stock worth $931,000 after acquiring an additional 3,801 shares in the last quarter. Finally, Mosley Wealth Management purchased a new stake in shares of Southern during the 4th quarter worth about $430,000. 64.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Southern in a research note on Wednesday, February 21st. Argus lifted their price target on Southern from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. UBS Group downgraded Southern from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $78.00 to $76.00 in a research note on Thursday, April 4th. Morgan Stanley upped their target price on shares of Southern from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $76.00 price target (up from $72.00) on shares of Southern in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.36.

Read Our Latest Report on Southern

Insider Buying and Selling

In related news, CEO Kimberly S. Greene sold 9,126 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total transaction of $684,815.04. Following the sale, the chief executive officer now directly owns 121,504 shares of the company’s stock, valued at approximately $9,117,660.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction on Monday, March 11th. The stock was sold at an average price of $68.92, for a total value of $344,600.00. Following the completion of 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 document filed with the SEC, which is available at the SEC website. Also, CEO Kimberly S. Greene sold 9,126 shares of Southern stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total value of $684,815.04. Following the completion of the transaction, the chief executive officer now owns 121,504 shares of the company’s stock, valued at $9,117,660.16. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Southern Trading Down 0.9 %

SO traded down $0.71 on Friday, hitting $77.94. The company had a trading volume of 3,865,793 shares, compared to its average volume of 4,124,041. The company has a current ratio of 0.92, a quick ratio of 0.65 and a debt-to-equity ratio of 1.67. The firm has a market cap of $85.22 billion, a P/E ratio of 20.14, a PEG ratio of 2.80 and a beta of 0.51. The company’s fifty day moving average price is $75.09 and its 200 day moving average price is $71.50. The Southern Company has a 1 year low of $61.56 and a 1 year high of $80.84.

Southern (NYSE:SOGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.59 billion. Southern had a net margin of 16.74% and a return on equity of 12.07%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.79 EPS. As a group, equities analysts expect that The Southern Company will post 4 earnings per share for the current year.

Southern Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Monday, May 20th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Friday, May 17th. This is an increase from Southern’s previous quarterly dividend of $0.70. Southern’s payout ratio is currently 74.42%.

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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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