Community Bank & Trust Waco Texas Purchases 2,256 Shares of The Southern Company (NYSE:SO)

Community Bank & Trust Waco Texas raised its position in The Southern Company (NYSE:SO) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,516 shares of the utilities provider’s stock after purchasing an additional 2,256 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Southern were worth $4,664,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of Southern by 12.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,732 shares of the utilities provider’s stock worth $1,239,000 after buying an additional 2,095 shares during the last quarter. Summit Global Investments increased its stake in shares of Southern by 7.1% in the third quarter. Summit Global Investments now owns 12,531 shares of the utilities provider’s stock worth $811,000 after acquiring an additional 833 shares during the period. Searcy Financial Services Inc. ADV purchased a new position in shares of Southern during the 3rd quarter valued at about $206,000. DAVENPORT & Co LLC boosted its position in Southern by 0.7% in the 3rd quarter. DAVENPORT & Co LLC now owns 112,331 shares of the utilities provider’s stock worth $7,271,000 after purchasing an additional 794 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of Southern by 3.8% during the 3rd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 13,281 shares of the utilities provider’s stock worth $860,000 after purchasing an additional 482 shares during the period. Institutional investors own 64.10% of the company’s stock.

Southern Trading Up 0.2 %

Shares of Southern stock traded up $0.13 during mid-day trading on Wednesday, hitting $73.38. The stock had a trading volume of 1,227,958 shares, compared to its average volume of 4,644,823. The firm has a 50-day moving average of $69.23 and a two-hundred day moving average of $69.24. The firm has a market cap of $80.32 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 4.56 and a beta of 0.49. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 1.62. The Southern Company has a 12-month low of $61.56 and a 12-month high of $75.80.

Southern (NYSE:SO) last posted its earnings results on Thursday, February 15th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. Southern had a return on equity of 11.40% and a net margin of 15.79%. The company had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the firm earned $0.26 earnings per share. The firm’s quarterly revenue was down 14.2% compared to the same quarter last year. Sell-side analysts forecast that The Southern Company will post 4 earnings per share for the current year.

Southern Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Monday, May 20th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, May 17th. This is a positive change from Southern’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 3.92%. Southern’s dividend payout ratio is 77.13%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. BMO Capital Markets reissued an “outperform” rating and set a $76.00 price target (up from $72.00) on shares of Southern in a report on Monday, April 1st. Barclays raised their target price on Southern from $65.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Mizuho upped their price target on Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Scotiabank dropped their price objective on Southern from $80.00 to $77.00 and set a “sector outperform” rating on the stock in a report on Monday. Finally, UBS Group downgraded Southern from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $78.00 to $76.00 in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Southern currently has an average rating of “Moderate Buy” and a consensus target price of $74.36.

Insiders Place Their Bets

In other news, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $68.92, for a total value of $344,600.00. Following the sale, the chief executive officer now directly owns 126,528 shares in the company, valued at approximately $8,720,309.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $68.92, for a total value of $344,600.00. Following the completion of the sale, the chief executive officer now owns 126,528 shares in the company, valued at approximately $8,720,309.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Christopher Cummiskey sold 899 shares of Southern stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total value of $60,286.94. Following the completion of the transaction, the executive vice president now owns 22,502 shares in the company, valued at $1,508,984.12. The disclosure for this sale can be found here. Insiders have sold a total of 10,899 shares of company stock worth $739,587 in the last ninety days. 0.28% of the stock is owned by corporate insiders.

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.