Benjamin Edwards Inc. Buys 3,768 Shares of The Southern Company (NYSE:SO)

Benjamin Edwards Inc. lifted its stake in The Southern Company (NYSE:SO) by 116.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,008 shares of the utilities provider’s stock after acquiring an additional 3,768 shares during the period. Benjamin Edwards Inc.’s holdings in Southern were worth $544,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SO. Vista Capital Partners Inc. grew its holdings in Southern by 1.4% during the second quarter. Vista Capital Partners Inc. now owns 8,743 shares of the utilities provider’s stock valued at $678,000 after purchasing an additional 118 shares during the last quarter. Modera Wealth Management LLC boosted its holdings in shares of Southern by 1.4% during the 2nd quarter. Modera Wealth Management LLC now owns 9,048 shares of the utilities provider’s stock worth $702,000 after buying an additional 124 shares during the period. Red Door Wealth Management LLC grew its stake in Southern by 0.9% in 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 during the last quarter. Elwood & Goetz Wealth Advisory Group LLC raised its holdings in Southern by 2.1% in the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,352 shares of the utilities provider’s stock worth $493,000 after acquiring an additional 128 shares during the period. Finally, Moloney Securities Asset Management LLC lifted its position in shares of Southern by 2.0% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 6,595 shares of the utilities provider’s stock worth $512,000 after purchasing an additional 131 shares during the last quarter. 64.10% of the stock is owned by institutional investors.

Southern Price Performance

Southern stock opened at $89.70 on Friday. The business has a 50 day simple moving average of $86.20 and a 200 day simple moving average of $78.80. The Southern Company has a one year low of $61.56 and a one year high of $90.34. The company has a market capitalization of $98.08 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 3.22 and a beta of 0.52. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.91 and a quick ratio of 0.66.

Southern (NYSE:SO) last issued its earnings results 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 company had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.10 billion. Southern had a net margin of 17.67% and a return on equity of 12.88%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 EPS. On average, sell-side analysts forecast that The Southern Company will post 4.01 EPS for the current fiscal year.

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, August 19th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Monday, August 19th. Southern’s payout ratio is 74.42%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company lifted their price target on Southern from $77.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Southern in a research report on Friday. They set a “hold” rating and a $94.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Southern from $80.00 to $87.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Scotiabank boosted their price objective on shares of Southern from $87.00 to $96.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley increased their target price on shares of Southern from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Southern currently has a consensus rating of “Hold” and an average target price of $86.33.

Insider Activity

In related news, EVP Bryan D. Anderson sold 6,565 shares of the 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 sale, the executive vice president now directly owns 44,467 shares in the company, valued at approximately $3,981,575.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $88.99, for a total transaction of $211,796.20. Following the transaction, the executive vice president now owns 12,500 shares in the company, valued at approximately $1,112,375. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Bryan D. Anderson sold 6,565 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were 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 owns 44,467 shares of the company’s stock, valued at approximately $3,981,575.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,845 shares of company stock worth $2,266,455. Insiders own 0.18% of the company’s stock.

Southern 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.