Envestnet Asset Management Inc. Has $200.83 Million Stake in The Southern Company (NYSE:SO)

Envestnet Asset Management Inc. boosted its position in The Southern Company (NYSE:SO - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,439,594 shares of the utilities provider's stock after purchasing an additional 72,370 shares during the quarter. Envestnet Asset Management Inc. owned about 0.22% of Southern worth $200,827,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Southern during the fourth quarter valued at $25,000. YANKCOM Partnership bought a new position in Southern in the 4th quarter valued at about $26,000. WFA Asset Management Corp increased its stake in Southern by 84.9% during the 4th quarter. WFA Asset Management Corp now owns 429 shares of the utilities provider's stock valued at $35,000 after buying an additional 197 shares during the period. Valley National Advisers Inc. raised its position in shares of Southern by 244.4% during the 4th quarter. Valley National Advisers Inc. now owns 434 shares of the utilities provider's stock worth $35,000 after buying an additional 308 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Southern in the 4th quarter worth approximately $35,000. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Trading Up 1.0 %

Shares of SO stock traded up $0.91 during trading hours on Friday, reaching $89.80. 4,021,990 shares of the stock traded hands, compared to its average volume of 4,560,696. The business has a fifty day moving average price of $88.67 and a 200 day moving average price of $87.27. The Southern Company has a 1-year low of $67.53 and a 1-year high of $94.45. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $98.50 billion, a PE ratio of 22.39, a PEG ratio of 3.01 and a beta of 0.39.

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Southern (NYSE:SO - Get Free Report) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). The firm had revenue of $6.34 billion for the quarter, compared to analyst estimates of $5.90 billion. Southern had a net margin of 16.47% and a return on equity of 12.23%. On average, equities research analysts forecast that The Southern Company will post 4.29 EPS for the current year.

Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.88 dividend on an annualized basis and a yield of 3.21%. Southern's payout ratio is presently 71.82%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Guggenheim cut Southern from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. Mizuho boosted their price objective on Southern from $83.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised Southern from an "underweight" rating to a "neutral" rating and set a $94.00 target price for the company in a research note on Tuesday. UBS Group boosted their price target on shares of Southern from $94.00 to $97.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Morgan Stanley restated an "outperform" rating on shares of Southern in a research report on Thursday, March 20th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $92.00.

Insider Activity

In other Southern news, CEO Kimberly S. Greene sold 32,190 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $93.12, for a total value of $2,997,532.80. Following the transaction, the chief executive officer now directly owns 106,819 shares of the company's stock, valued at $9,946,985.28. This represents a 23.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Jeffrey Peoples sold 14,540 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $86.00, for a total value of $1,250,440.00. Following the completion of the sale, the chief executive officer now directly owns 13,236 shares of the company's stock, valued at approximately $1,138,296. The trade was a 52.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,855 shares of company stock worth $4,348,784 in the last 90 days. Company insiders own 0.18% of the company's stock.

Southern Company 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.