Kentucky Trust Co Makes New Investment in The Southern Company (NYSE:SO)

Kentucky Trust Co purchased a new stake in shares of The Southern Company (NYSE:SO) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 52,617 shares of the utilities provider’s stock, valued at approximately $4,331,000. Southern accounts for approximately 2.5% of Kentucky Trust Co’s portfolio, making the stock its 8th largest position.

A number of other large investors also recently bought and sold shares of SO. Fiduciary Alliance LLC lifted its position in Southern by 250.9% during the third quarter. Fiduciary Alliance LLC now owns 10,477 shares of the utilities provider’s stock valued at $945,000 after purchasing an additional 7,491 shares during the period. Creative Planning lifted its position in Southern by 3.4% during the third quarter. Creative Planning now owns 368,646 shares of the utilities provider’s stock valued at $33,245,000 after purchasing an additional 12,011 shares during the period. Prospect Financial Services LLC bought a new position in Southern during the third quarter valued at approximately $213,000. Foster Victor Wealth Advisors LLC lifted its position in Southern by 3.2% during the third quarter. Foster Victor Wealth Advisors LLC now owns 73,913 shares of the utilities provider’s stock valued at $6,573,000 after purchasing an additional 2,279 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new position in Southern during the third quarter valued at approximately $321,000. 64.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Southern

In related news, EVP Martin Bernard Davis sold 1,170 shares of Southern stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $85.90, for a total transaction of $100,503.00. Following the completion of the sale, the executive vice president now owns 88,393 shares in the company, valued at $7,592,958.70. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley reduced their target price 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. BMO Capital Markets reduced their target price on shares of Southern from $99.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Scotiabank upped their target price on shares of Southern from $96.00 to $98.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Mizuho increased their price objective on shares of Southern from $83.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Guggenheim cut shares of Southern from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. One equities 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.79.

Southern Price Performance

SO stock opened at $86.45 on Wednesday. The Southern Company has a 52 week low of $65.80 and a 52 week high of $94.45. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 1.66. The company has a fifty day simple moving average of $83.33 and a two-hundred day simple moving average of $86.74. The firm has a market capitalization of $94.72 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53.

Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.72 per share. The ex-dividend date is Tuesday, February 18th. This represents a $2.88 annualized dividend and a yield of 3.33%. Southern’s dividend payout ratio (DPR) is currently 66.98%.

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.