Triton Wealth Management PLLC Cuts Stock Position in The Southern Company (NYSE:SO)

Triton Wealth Management PLLC decreased its holdings in shares of The Southern Company (NYSE:SO) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,560 shares of the utilities provider’s stock after selling 121 shares during the quarter. Triton Wealth Management PLLC’s holdings in Southern were worth $415,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. HBW Advisory Services LLC boosted its stake in Southern by 219.4% during the third quarter. HBW Advisory Services LLC now owns 8,971 shares of the utilities provider’s stock worth $809,000 after buying an additional 6,162 shares during the period. Duncan Williams Asset Management LLC bought a new position in Southern during the 3rd quarter valued at about $259,000. Wiser Wealth Management Inc purchased a new stake in Southern in the 3rd quarter worth about $1,183,000. Farmers Trust Co. lifted its stake in Southern by 236.3% in the third quarter. Farmers Trust Co. now owns 36,778 shares of the utilities provider’s stock worth $3,317,000 after purchasing an additional 25,843 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Southern by 33.5% during the third quarter. SG Americas Securities LLC now owns 285,849 shares of the utilities provider’s stock valued at $25,778,000 after buying an additional 71,749 shares during the last quarter. Institutional investors own 64.10% of the company’s stock.

Southern Stock Down 0.4 %

Shares of SO traded down $0.39 during midday trading on Friday, hitting $90.31. 3,432,324 shares of the company’s stock traded hands, compared to its average volume of 4,608,267. The Southern Company has a 1 year low of $62.26 and a 1 year high of $91.86. The firm’s fifty day moving average is $87.94 and its 200-day moving average is $80.27. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $98.75 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 3.28 and a beta of 0.52.

Southern (NYSE:SO) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.10 EPS for the quarter, beating the consensus estimate of $0.91 by $0.19. The firm had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.10 billion. Southern had a net margin of 17.67% and a return on equity of 12.88%. Southern’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the firm posted $0.79 EPS. As a group, sell-side analysts anticipate that The Southern Company will post 4.02 earnings per share for the current year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Monday, August 19th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Monday, August 19th. Southern’s dividend payout ratio (DPR) is 74.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SO shares. The Goldman Sachs Group boosted their price objective on Southern from $83.00 to $94.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of Southern from $80.00 to $87.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. Wells Fargo & Company boosted their price objective on shares of Southern from $77.00 to $89.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Guggenheim raised their target price on shares of Southern from $93.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley increased their price objective on Southern from $78.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $88.27.

Insider Activity at Southern

In related news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $88.99, for a total transaction of $211,796.20. Following the sale, the executive vice president now directly owns 12,500 shares of the company’s stock, valued at approximately $1,112,375. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Southern news, EVP Bryan D. Anderson sold 6,565 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $89.54, for a total transaction of $587,830.10. Following the completion of the sale, the executive vice president now directly owns 44,467 shares in the company, valued at approximately $3,981,575.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $88.99, for a total value of $211,796.20. Following the completion of the transaction, the executive vice president now directly owns 12,500 shares of the company’s stock, valued at approximately $1,112,375. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

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.