MADDEN SECURITIES Corp Invests $985,000 in Southern Co (NYSE:SO)

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MADDEN SECURITIES Corp purchased a new position in shares of Southern Co (NYSE:SO) in the 2nd quarter, Holdings Channel reports. The firm purchased 19,005 shares of the utilities provider’s stock, valued at approximately $985,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SO. Keudell Morrison Wealth Management boosted its position in shares of Southern by 14.9% during the 2nd quarter. Keudell Morrison Wealth Management now owns 12,774 shares of the utilities provider’s stock worth $662,000 after purchasing an additional 1,661 shares in the last quarter. Verity & Verity LLC boosted its position in shares of Southern by 4.9% during the 2nd quarter. Verity & Verity LLC now owns 190,119 shares of the utilities provider’s stock worth $10,111,000 after purchasing an additional 8,807 shares in the last quarter. CENTRAL TRUST Co boosted its position in shares of Southern by 5.6% during the 2nd quarter. CENTRAL TRUST Co now owns 72,645 shares of the utilities provider’s stock worth $3,766,000 after purchasing an additional 3,842 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Southern by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 45,400 shares of the utilities provider’s stock worth $2,354,000 after purchasing an additional 800 shares in the last quarter. Finally, NuWave Investment Management LLC bought a new position in shares of Southern during the 2nd quarter worth about $127,000. Institutional investors and hedge funds own 58.82% of the company’s stock.

In other news, EVP James Y. Kerr II sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $59.41, for a total value of $2,970,500.00. Following the transaction, the executive vice president now owns 117,206 shares in the company, valued at $6,963,208.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen E. Kuczynski sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $54.47, for a total transaction of $108,940.00. Following the completion of the transaction, the chief executive officer now owns 83,996 shares in the company, valued at approximately $4,575,262.12. The disclosure for this sale can be found here. Insiders sold 54,500 shares of company stock worth $3,227,590 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.

SO has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Southern from $52.00 to $53.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 17th. Mizuho lowered their target price on shares of Southern from $59.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, June 15th. Credit Suisse Group upgraded shares of Southern from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $60.00 to $61.00 in a report on Monday, May 4th. Barclays lowered their target price on shares of Southern from $68.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. Finally, Argus upgraded shares of Southern from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Monday, April 13th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $61.97.

NYSE:SO traded up $0.50 during trading hours on Tuesday, hitting $53.68. The stock had a trading volume of 5,940,616 shares, compared to its average volume of 5,669,623. Southern Co has a one year low of $41.96 and a one year high of $71.10. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.99 and a quick ratio of 0.78. The firm has a market capitalization of $56.95 billion, a price-to-earnings ratio of 15.93, a P/E/G ratio of 4.22 and a beta of 0.42. The company has a 50 day simple moving average of $54.85 and a two-hundred day simple moving average of $59.28.

Southern (NYSE:SO) last issued its earnings results on Thursday, April 30th. The utilities provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.07. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.45 billion. Southern had a net margin of 16.83% and a return on equity of 10.57%. The firm’s revenue was down 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. Equities research analysts anticipate that Southern Co will post 3.15 earnings per share for the current year.

Southern Profile

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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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