Cantor Fitzgerald Investment Advisors L.P. Grows Stock Position in The Southern Company (NYSE:SO)

by · The Cerbat Gem

Cantor Fitzgerald Investment Advisors L.P. lifted its position in shares of The Southern Company (NYSE:SO – Free Report) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,840 shares of the utilities provider’s stock after purchasing an additional 140 shares during the period. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Southern were worth $527,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SO. Central Pacific Bank Trust Division purchased a new position in shares of Southern during the 1st quarter valued at approximately $39,000. Cedar Wealth Management LLC boosted its stake in Southern by 63.2% during the 1st quarter. Cedar Wealth Management LLC now owns 545 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 211 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in Southern during the 2nd quarter worth $39,000. Versant Capital Management Inc increased its position in shares of Southern by 31.8% in the 2nd quarter. Versant Capital Management Inc now owns 585 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 141 shares during the last quarter. Finally, West Branch Capital LLC raised its stake in shares of Southern by 34.7% in the 3rd quarter. West Branch Capital LLC now owns 501 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 129 shares in the last quarter. 64.10% of the stock is currently owned by hedge funds and other institutional investors.

Southern Trading Down 2.1 %

Shares of SO stock opened at $89.86 on Wednesday. The Southern Company has a 1 year low of $65.80 and a 1 year high of $94.45. The firm has a market capitalization of $98.26 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 3.29 and a beta of 0.52. The stock has a fifty day moving average of $89.56 and a two-hundred day moving average of $82.91. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.66 and a current ratio of 0.91.

Southern (NYSE:SO – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.19. Southern had a net margin of 17.67% and a return on equity of 12.88%. The business had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, research analysts expect that The Southern Company will post 4.02 EPS for the current year.

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a $0.72 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.88 dividend on an annualized basis and a yield of 3.20%. Southern’s dividend payout ratio (DPR) is 68.57%.

Analysts Set New Price Targets

Several brokerages recently weighed in on SO. Wolfe Research lowered Southern from an “outperform” rating to a “peer perform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on Southern from $80.00 to $87.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. Barclays lifted their price objective on shares of Southern from $71.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Bank of America increased their target price on shares of Southern from $86.00 to $87.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Scotiabank lifted their price target on shares of Southern from $87.00 to $96.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Southern has an average rating of “Hold” and an average target price of $89.07.

Get Our Latest Stock Report on Southern

Insider Buying and Selling at Southern

In related news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $88.99, for a total transaction of $211,796.20. Following the completion of the transaction, the executive vice president now owns 12,500 shares of the company’s stock, valued at $1,112,375. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $88.99, for a total transaction of $211,796.20. Following the completion of the sale, the executive vice president now directly owns 12,500 shares in the company, valued at approximately $1,112,375. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James Y. Kerr II sold 30,000 shares of Southern stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the completion of the transaction, the chief executive officer now owns 145,088 shares in the company, valued at approximately $13,005,688.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,945 shares of company stock valued at $3,488,826. 0.18% of the stock is owned by corporate insiders.

Southern Company Profile

(Free Report)

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.

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