The Southern Company (NYSE:SO) EVP Sloane N. Drake Sells 12,000 Shares of Stock

The Southern Company (NYSE:SO) EVP Sloane N. Drake sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $77.61, for a total value of $931,320.00. Following the completion of the sale, the executive vice president now directly owns 16,771 shares of the company’s stock, valued at approximately $1,301,597.31. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Southern Price Performance

Shares of NYSE SO opened at $77.72 on Thursday. The company has a 50 day moving average of $77.75 and a 200 day moving average of $72.36. The company has a quick ratio of 0.65, a current ratio of 0.92 and a debt-to-equity ratio of 1.67. The Southern Company has a twelve month low of $61.56 and a twelve month high of $80.84. The firm has a market cap of $84.98 billion, a P/E ratio of 20.08, a PEG ratio of 2.79 and a beta of 0.51.

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, beating analysts’ consensus estimates of $0.90 by $0.13. Southern had a return on equity of 12.07% and a net margin of 16.74%. The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.59 billion. During the same period in the prior year, the company posted $0.79 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts expect that The Southern Company will post 4 EPS for the current fiscal year.

Southern Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Monday, May 20th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Friday, May 17th. This is an increase from Southern’s previous quarterly dividend of $0.70. Southern’s dividend payout ratio (DPR) is presently 74.42%.

Analysts Set New Price Targets

A number of equities analysts have commented on SO shares. 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. Scotiabank decreased their target price on shares of Southern from $80.00 to $77.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Morgan Stanley lowered their price target on shares of Southern from $74.00 to $71.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Bank of America raised their price target on shares of Southern from $73.00 to $79.00 and gave the stock a “neutral” rating in a report on Friday, May 31st. Finally, Barclays boosted their price target on shares of Southern from $65.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $76.14.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Voisard Asset Management Group Inc. purchased a new stake in Southern during the 4th quarter valued at $31,000. Scarborough Advisors LLC bought a new position in Southern in the fourth quarter valued at about $31,000. Versant Capital Management Inc grew its stake in shares of Southern by 62.0% during the 1st quarter. Versant Capital Management Inc now owns 444 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 170 shares during the period. BKM Wealth Management LLC purchased a new stake in shares of Southern during the 4th quarter valued at about $34,000. Finally, Valley National Advisers Inc. lifted its stake in shares of Southern by 63.9% in the 4th quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 205 shares during the period. 64.10% of the stock is owned by hedge funds and other institutional investors.

About Southern

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.