Hanlon Investment Management Inc. Takes Position in The Southern Company (NYSE:SO)

Hanlon Investment Management Inc. bought a new stake in shares of The Southern Company (NYSE:SO) in the third quarter, Holdings Channel.com reports. The fund bought 2,237 shares of the utilities provider’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SO. Vista Capital Partners Inc. lifted its stake in Southern by 1.4% during the 2nd quarter. Vista Capital Partners Inc. now owns 8,743 shares of the utilities provider’s stock valued at $678,000 after acquiring an additional 118 shares in the last quarter. Stanley Laman Group Ltd. increased its holdings in Southern by 3.8% in the 3rd quarter. Stanley Laman Group Ltd. now owns 3,246 shares of the utilities provider’s stock worth $293,000 after acquiring an additional 119 shares during the last quarter. DT Investment Partners LLC grew its holdings in Southern by 5.8% during the 3rd quarter. DT Investment Partners LLC now owns 2,201 shares of the utilities provider’s stock valued at $198,000 after buying an additional 121 shares in the last quarter. Modera Wealth Management LLC grew its holdings in Southern by 1.4% during the 2nd quarter. Modera Wealth Management LLC now owns 9,048 shares of the utilities provider’s stock valued at $702,000 after buying an additional 124 shares in the last quarter. Finally, Red Door Wealth Management LLC grew its holdings in Southern by 0.9% during the 2nd quarter. Red Door Wealth Management LLC now owns 13,926 shares of the utilities provider’s stock valued at $1,080,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Insider Activity

In related news, EVP Bryan D. Anderson sold 6,565 shares of Southern stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $89.54, for a total value of $587,830.10. Following the completion of the transaction, the executive vice president now owns 44,467 shares in the company, valued at $3,981,575.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Bryan D. Anderson sold 6,565 shares of Southern stock in a transaction on Friday, September 6th. The shares were sold at an average price of $89.54, for a total value of $587,830.10. Following the transaction, the executive vice president now directly owns 44,467 shares of the company’s stock, valued at $3,981,575.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Y. Kerr II sold 30,000 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the completion of the transaction, the chief executive officer now directly owns 145,088 shares in the company, valued at $13,005,688.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Southern Stock Performance

SO opened at $88.71 on Wednesday. The firm’s fifty day simple moving average is $89.83 and its two-hundred day simple moving average is $83.59. The company has a market cap of $97.20 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 3.14 and a beta of 0.52. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 1.66. The Southern Company has a 52-week low of $65.80 and a 52-week high of $94.45.

Southern (NYSE:SO) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. Southern had a net margin of 17.87% and a return on equity of 12.78%. The business had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $7.14 billion. During the same period last year, the business earned $1.42 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities analysts anticipate that The Southern Company will post 4.04 earnings per share for the current fiscal year.

Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Monday, November 18th. Southern’s payout ratio is 66.98%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SO. Morgan Stanley lifted their price target on Southern from $78.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Guggenheim upped their target price on Southern from $93.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group initiated coverage on Southern in a report on Friday, September 20th. They issued a “hold” rating and a $94.00 price objective for the company. BMO Capital Markets reduced their price target on Southern from $99.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Mizuho lowered shares of Southern from an “outperform” rating to a “neutral” rating and set a $90.00 target price for the company. in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $89.27.

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.