Mogy Joel R Investment Counsel Inc. Trims Position in The Southern Company (NYSE:SO)

Mogy Joel R Investment Counsel Inc. reduced its holdings in The Southern Company (NYSE:SO) by 14.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,131 shares of the utilities provider’s stock after selling 1,202 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in Southern were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SO. Rockline Wealth Management LLC acquired a new position in shares of Southern during the fourth quarter worth about $1,945,000. Zullo Investment Group Inc. boosted its holdings in Southern by 4.8% in the 4th quarter. Zullo Investment Group Inc. now owns 3,437 shares of the utilities provider’s stock worth $241,000 after acquiring an additional 157 shares during the period. Global Retirement Partners LLC grew its position in Southern by 5.8% in the fourth quarter. Global Retirement Partners LLC now owns 14,856 shares of the utilities provider’s stock valued at $1,045,000 after acquiring an additional 819 shares in the last quarter. Apella Capital LLC purchased a new stake in shares of Southern during the fourth quarter valued at approximately $301,000. Finally, Alpine Woods Capital Investors LLC acquired a new position in shares of Southern during the fourth quarter worth $3,795,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Price Performance

Shares of SO stock traded down $1.16 during midday trading on Friday, reaching $73.21. 5,478,762 shares of the company were exchanged, compared to its average volume of 4,829,927. The company’s 50 day moving average price is $69.64 and its two-hundred day moving average price is $69.36. The company has a market cap of $80.14 billion, a P/E ratio of 20.17, a PEG ratio of 4.66 and a beta of 0.49. The Southern Company has a 12 month low of $61.56 and a 12 month high of $75.80. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.56 and a current ratio of 0.77.

Southern (NYSE:SO) last announced its 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. Southern had a return on equity of 11.40% and a net margin of 15.79%. The firm had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the company earned $0.26 earnings per share. The firm’s quarterly revenue was down 14.2% compared to the same quarter last year. On average, 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 announced 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 is a positive change from Southern’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Friday, May 17th. Southern’s payout ratio is presently 77.14%.

Analysts Set New Price Targets

A number of analysts have weighed in on SO shares. BMO Capital Markets reissued an “outperform” rating and set a $76.00 target price (up from $72.00) on shares of Southern in a report on Monday, April 1st. Mizuho raised their target price on shares of Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Bank of America upped their target price on Southern from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays raised their target price on Southern from $65.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company lowered their price target on shares of Southern from $75.00 to $72.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. One 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.36.

Insiders Place Their Bets

In related news, EVP Christopher Cummiskey sold 899 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total transaction of $60,286.94. Following the completion of the sale, the executive vice president now directly owns 22,502 shares in the company, valued at $1,508,984.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Christopher Cummiskey sold 899 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total transaction of $60,286.94. Following the sale, the executive vice president now directly owns 22,502 shares of the company’s stock, valued at $1,508,984.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $66.94, for a total value of $334,700.00. Following the completion of the transaction, the chief executive officer now owns 129,552 shares of the company’s stock, valued at approximately $8,672,210.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,899 shares of company stock worth $739,587. 0.18% of the stock is owned by corporate 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.