Hyman Charles D Has $31.36 Million Position in The Southern Company (NYSE:SO)

Hyman Charles D decreased its stake in The Southern Company (NYSE:SO) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 447,234 shares of the utilities provider’s stock after selling 3,998 shares during the period. Southern comprises about 1.9% of Hyman Charles D’s holdings, making the stock its 17th largest holding. Hyman Charles D’s holdings in Southern were worth $31,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Insigneo Advisory Services LLC boosted its position in shares of Southern by 3.1% in the third 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 boosted its stake in Southern by 0.8% during the fourth quarter. Good Life Advisors LLC now owns 19,956 shares of the utilities provider’s stock valued at $1,399,000 after buying an additional 149 shares during the period. Insight Inv LLC grew its position in Southern by 1.4% during the fourth quarter. Insight Inv LLC now owns 10,530 shares of the utilities provider’s stock worth $738,000 after buying an additional 150 shares in the last quarter. Patten & Patten Inc. TN increased its stake in Southern by 0.7% in the 4th quarter. Patten & Patten Inc. TN now owns 20,736 shares of the utilities provider’s stock worth $1,454,000 after acquiring an additional 150 shares during the last quarter. Finally, CNB Bank boosted 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 acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Trading Up 0.9 %

Shares of NYSE:SO traded up $0.68 during trading on Wednesday, reaching $77.63. 6,695,041 shares of the company traded hands, compared to its average volume of 4,845,418. 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 Southern Company has a 52-week low of $61.56 and a 52-week high of $77.77. The business’s fifty day moving average is $70.78 and its 200-day moving average is $69.82. The firm has a market capitalization of $84.98 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 4.75 and a beta of 0.48.

Southern (NYSE:SO) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.59 billion. Southern had a net margin of 16.74% and a return on equity of 12.07%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS. As a group, analysts forecast that The Southern Company will post 3.99 EPS for the current year.

Southern Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Monday, May 20th will be given a dividend of $0.72 per share. 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. This represents a $2.88 dividend on an annualized basis and a yield of 3.71%. Southern’s dividend payout ratio is presently 74.42%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and issued a $76.00 price objective (up from $72.00) on shares of Southern in a research report on Monday, April 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Southern in a report on Wednesday, February 21st. Barclays increased 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. Mizuho lifted their price target on Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Scotiabank reduced their price objective on Southern from $80.00 to $77.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.71.

Insiders Place Their Bets

In other Southern news, CEO Kimberly S. Greene sold 9,126 shares of the business’s stock in a transaction 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 transaction, 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 can be accessed through the SEC website. In other news, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’s stock in a transaction that occurred 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 owns 126,528 shares in the company, valued at approximately $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 that occurred 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 sale, the chief executive officer now owns 121,504 shares in the company, valued at $9,117,660.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,126 shares of company stock worth $1,364,115. 0.18% of the stock is currently owned by company 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.