Rep. Marjorie Taylor Greene Purchases Shares of The Southern Company (NYSE:SO)

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of The Southern Company NYSE: SO. In a filing disclosed on November 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Southern stock on November 7th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Berkshire Hathaway NYSE: BRK.B on 11/7/2024.
• Purchased $1,001 - $15,000 in shares of FedEx NYSE: FDX on 11/7/2024.
• Purchased $1,001 - $15,000 in shares of Dell Technologies NYSE: DELL on 11/7/2024.
• Purchased $1,001 - $15,000 in shares of Hershey NYSE: HSY on 11/7/2024.
• Purchased $1,001 - $15,000 in shares of Tractor Supply NASDAQ: TSCO on 11/7/2024.
• Purchased $1,001 - $15,000 in shares of Blackstone NYSE: BX on 11/7/2024.
• Purchased $1,001 - $15,000 in shares of NextEra Energy NYSE: NEE on 11/7/2024.
• Purchased $1,001 - $15,000 in shares of The Goldman Sachs Group NYSE: GS on 11/7/2024.
• Purchased $1,001 - $15,000 in shares of ServiceNow NYSE: NOW on 11/7/2024.
• Purchased $1,001 - $15,000 in shares of Palo Alto Networks NASDAQ: PANW on 11/7/2024.

Southern Price Performance

Shares of NYSE SO traded down $0.62 during trading on Tuesday, reaching $87.71. The company had a trading volume of 4,171,547 shares, compared to its average volume of 4,453,261. The stock has a market capitalization of $96.10 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 3.15 and a beta of 0.52. The stock has a 50-day moving average price of $89.97 and a two-hundred day moving average price of $83.99. The Southern Company has a twelve month low of $65.80 and a twelve month high of $94.45. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66.

Southern (NYSE:SO - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.10. The company had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $7.14 billion. Southern had a net margin of 17.87% and a return on equity of 12.78%. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $1.42 EPS. As a group, sell-side analysts predict that The Southern Company will post 4.04 earnings per share for the current year.

Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Monday, November 18th. Southern's payout ratio is currently 66.98%.

Insider Activity at Southern

In related news, EVP Bryan D. Anderson sold 6,565 shares of the company's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $89.54, for a total transaction of $587,830.10. Following the completion of the transaction, the executive vice president now directly owns 44,467 shares in the company, valued at $3,981,575.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO James Y. Kerr II sold 30,000 shares of the business's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the completion of the sale, the chief executive officer now directly owns 145,088 shares of the company's stock, valued at $13,005,688.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Bryan D. Anderson sold 6,565 shares of Southern stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $89.54, for a total value of $587,830.10. Following the completion of the sale, the executive vice president now directly owns 44,467 shares in the company, valued at approximately $3,981,575.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SO has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on shares of Southern in a research report on Friday, September 20th. They issued a "hold" rating and a $94.00 price objective for the company. Mizuho lowered shares of Southern from an "outperform" rating to a "neutral" rating and set a $90.00 price objective for the company. in a report on Monday, September 16th. Bank of America increased their price target on shares of Southern from $86.00 to $87.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. Scotiabank increased their target price on Southern from $87.00 to $96.00 and gave the stock a "sector outperform" rating in a report on Tuesday, August 20th. Finally, UBS Group lifted their target price on Southern from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Southern currently has a consensus rating of "Hold" and a consensus price target of $89.27.

Hedge Funds Weigh In On Southern

Hedge funds have recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC raised its position in shares of Southern by 168.1% in the third quarter. Frazier Financial Advisors LLC now owns 311 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 195 shares during the period. Central Pacific Bank Trust Division bought a new stake in Southern during the first quarter valued at about $39,000. Cedar Wealth Management LLC grew its position in shares of Southern by 63.2% in the first quarter. Cedar Wealth Management LLC now owns 545 shares of the utilities provider's stock valued at $39,000 after purchasing an additional 211 shares during the last quarter. TruNorth Capital Management LLC bought a new position in shares of Southern in the second quarter worth about $39,000. Finally, Versant Capital Management Inc lifted its position in shares of Southern by 31.8% during 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. Institutional investors and hedge funds own 64.10% of the company's stock.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia's 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia's 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor's degree in business administration from the University of Georgia. Greene's career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

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.