Red Door Wealth Management LLC Trims Stake in The Southern Company (NYSE:SO)

Red Door Wealth Management LLC lessened its position in The Southern Company (NYSE:SO) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,009 shares of the utilities provider’s stock after selling 450 shares during the quarter. Red Door Wealth Management LLC’s holdings in Southern were worth $1,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SO. Retirement Wealth Solutions LLC bought a new position in shares of Southern in the 4th quarter worth about $25,000. Frazier Financial Advisors LLC lifted its holdings in shares of Southern by 168.1% during 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 last quarter. West Branch Capital LLC boosted its position 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 worth $45,000 after purchasing an additional 129 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new position in Southern during the 3rd quarter valued at approximately $49,000. Finally, Quarry LP purchased a new position in Southern during the third quarter valued at $49,000. Institutional investors own 64.10% of the company’s stock.

Insider Buying and Selling

In related news, EVP Martin Bernard Davis sold 1,170 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $85.90, for a total value of $100,503.00. Following the sale, the executive vice president now owns 88,393 shares in the company, valued at approximately $7,592,958.70. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by company insiders.

Southern Stock Down 0.4 %

Shares of SO opened at $82.23 on Friday. The Southern Company has a 12-month low of $65.80 and a 12-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. The company has a market capitalization of $90.10 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 2.81 and a beta of 0.52. The business’s 50 day moving average is $84.46 and its 200 day moving average is $86.38.

Southern (NYSE:SO) last issued its earnings results on Thursday, October 31st. The utilities provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.10. The firm had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.14 billion. Southern had a net margin of 17.87% and a return on equity of 12.78%. Southern’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.42 earnings per share. Research analysts expect that The Southern Company will post 4.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SO has been the subject of a number of analyst reports. Scotiabank raised their price objective on shares of Southern from $96.00 to $98.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Morgan Stanley decreased their price objective on shares of Southern from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Guggenheim downgraded Southern from a “buy” rating to a “neutral” rating in a research note on Thursday. BMO Capital Markets decreased their price target on Southern from $99.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Barclays increased their price objective on Southern from $71.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $90.14.

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.