Heritage Wealth Advisors lifted its holdings in shares of Southern Co (NYSE:SO) by 57.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,500 shares of the utilities provider’s stock after buying an additional 2,000 shares during the period. Heritage Wealth Advisors’ holdings in Southern were worth $284,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in SO. Sontag Advisory LLC bought a new position in shares of Southern in the fourth quarter worth about $25,000. Tompkins Financial Corp bought a new stake in Southern during the 1st quarter valued at approximately $28,000. Lee Financial Co raised its stake in Southern by 144.4% during the 1st quarter. Lee Financial Co now owns 550 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 325 shares during the period. Ellis Investment Partners LLC bought a new stake in Southern during the 1st quarter valued at approximately $29,000. Finally, Vigilant Capital Management LLC bought a new stake in Southern during the 4th quarter valued at approximately $30,000. 56.59% of the stock is currently owned by institutional investors.
SO has been the topic of several recent analyst reports. Zacks Investment Research downgraded Southern from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Evercore ISI raised Southern from an “in-line” rating to an “outperform” rating in a research note on Friday, May 3rd. reissued a “sell” rating on shares of Southern in a research note on Wednesday, February 13th. ValuEngine raised Southern from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. Finally, Credit Suisse Group set a $51.00 target price on Southern and gave the company a “sell” rating in a research note on Monday, April 22nd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $48.15.
Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.70. Southern had a return on equity of 10.37% and a net margin of 15.03%. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the company posted $0.88 EPS. The company’s revenue was down 15.1% compared to the same quarter last year. On average, equities analysts expect that Southern Co will post 3.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Monday, May 20th will be paid a $0.62 dividend. This is an increase from Southern’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, May 17th. This represents a $2.48 dividend on an annualized basis and a yield of 4.60%. Southern’s payout ratio is presently 78.18%.
In other Southern news, CEO William P. Bowers sold 233,477 shares of Southern stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $51.29, for a total value of $11,975,035.33. Following the sale, the chief executive officer now owns 354,212 shares of the company’s stock, valued at approximately $18,167,533.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ann P. Daiss sold 7,850 shares of Southern stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $54.06, for a total value of $424,371.00. Following the completion of the transaction, the insider now owns 17,862 shares of the company’s stock, valued at approximately $965,619.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,249 shares of company stock worth $13,714,078. Corporate insiders own 0.73% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Heritage Wealth Advisors Has $284,000 Stake in Southern Co (SO)” was originally published by Tech Know Bits and is the property of of Tech Know Bits. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://techknowbits.com/2019/05/16/heritage-wealth-advisors-has-284000-stake-in-southern-co-so.html.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.
Featured Article: Why do commodities matter?
Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Co (NYSE:SO).
Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.