35,565 Shares in Southern Company (The) (SO) Purchased by Griffin Asset Management Inc.

Griffin Asset Management Inc. purchased a new stake in Southern Company (The) (NYSE:SO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,565 shares of the utilities provider’s stock, valued at approximately $1,703,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Chicago Partners Investment Group LLC acquired a new position in Southern Company (The) in the 2nd quarter valued at $100,000. IHT Wealth Management LLC grew its holdings in Southern Company (The) by 15.3% in the 1st quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock valued at $115,000 after buying an additional 302 shares in the last quarter. Monroe Bank & Trust MI grew its holdings in Southern Company (The) by 17.9% in the 2nd quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock valued at $110,000 after buying an additional 350 shares in the last quarter. AlphaMark Advisors LLC grew its holdings in Southern Company (The) by 0.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock valued at $113,000 after buying an additional 14 shares in the last quarter. Finally, Ruggie Capital Group grew its holdings in Southern Company (The) by 228.0% in the 1st quarter. Ruggie Capital Group now owns 2,578 shares of the utilities provider’s stock valued at $128,000 after buying an additional 1,792 shares in the last quarter. Institutional investors and hedge funds own 52.64% of the company’s stock.

Shares of Southern Company (NYSE:SO) opened at $50.97 on Monday. The firm has a market capitalization of $51,154.92, a PE ratio of 18.53, a P/E/G ratio of 4.60 and a beta of 0.15. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57. Southern Company has a 12 month low of $46.20 and a 12 month high of $53.51.

Southern Company (The) (NYSE:SO) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04. The business had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.16 billion. Southern Company (The) had a return on equity of 10.81% and a net margin of 2.59%. Southern Company (The)’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $1.27 earnings per share. equities analysts predict that Southern Company will post 2.95 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Monday, November 20th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 4.55%. The ex-dividend date is Friday, November 17th. Southern Company (The)’s dividend payout ratio (DPR) is presently 414.29%.

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In related news, CEO William P. Bowers sold 85,151 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total value of $4,257,550.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christopher C. Womack sold 46,641 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $53.00, for a total value of $2,471,973.00. Following the completion of the sale, the executive vice president now directly owns 56,799 shares in the company, valued at $3,010,347. The disclosure for this sale can be found here. Insiders sold 213,813 shares of company stock worth $11,029,988 over the last ninety days. 0.74% of the stock is currently owned by insiders.

A number of research analysts have commented on SO shares. Barclays PLC reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Southern Company (The) in a report on Tuesday, July 25th. Deutsche Bank AG raised Southern Company (The) from a “hold” rating to a “buy” rating and upped their price objective for the company from $50.00 to $52.00 in a report on Tuesday, August 1st. Mizuho raised Southern Company (The) from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Tuesday, September 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $56.00 price objective (up from $55.00) on shares of Southern Company (The) in a report on Tuesday, September 12th. Finally, Guggenheim raised Southern Company (The) from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $56.00 in a report on Thursday, September 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. Southern Company (The) currently has an average rating of “Hold” and a consensus price target of $49.72.

About Southern Company (The)

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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