Capital Investment Counsel LLC cut its stake in Southern Company (The) (NYSE:SO – Free Report) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,671 shares of the utilities provider’s stock after selling 5,405 shares during the period. Capital Investment Counsel LLC’s holdings in Southern were worth $5,750,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of SO. Empowered Funds LLC boosted its position in Southern by 17.5% in the 1st quarter. Empowered Funds LLC now owns 34,003 shares of the utilities provider’s stock valued at $3,127,000 after buying an additional 5,067 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Southern by 2.8% during the second quarter. Wilmington Savings Fund Society FSB now owns 18,702 shares of the utilities provider’s stock valued at $1,717,000 after acquiring an additional 503 shares during the period. TD Asset Management Inc boosted its holdings in Southern by 2.4% in the second quarter. TD Asset Management Inc now owns 403,551 shares of the utilities provider’s stock valued at $37,058,000 after acquiring an additional 9,590 shares during the last quarter. Harbour Investments Inc. boosted its holdings in Southern by 9.0% in the second quarter. Harbour Investments Inc. now owns 25,524 shares of the utilities provider’s stock valued at $2,344,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Ritholtz Wealth Management increased its position in Southern by 18.1% in the second quarter. Ritholtz Wealth Management now owns 20,036 shares of the utilities provider’s stock worth $1,840,000 after purchasing an additional 3,065 shares during the period. 64.10% of the stock is owned by institutional investors.
Southern Stock Up 1.9%
Southern stock opened at $92.61 on Friday. Southern Company has a fifty-two week low of $83.09 and a fifty-two week high of $100.83. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.75 and a quick ratio of 0.59. The firm has a market capitalization of $101.98 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 2.75 and a beta of 0.45. The company’s 50 day simple moving average is $87.72 and its 200 day simple moving average is $91.38.
Southern Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 17th will be given a $0.74 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.2%. Southern’s dividend payout ratio is currently 73.27%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. BTIG Research began coverage on shares of Southern in a research report on Tuesday, October 21st. They set a “neutral” rating on the stock. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $102.50 price target (up from $99.50) on shares of Southern in a research note on Friday, October 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $105.00 price objective on shares of Southern in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern in a report on Wednesday, January 21st. Finally, Barclays dropped their target price on shares of Southern from $91.00 to $88.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.91.
Get Our Latest Research Report on Southern
Southern Company Profile
(Free Report)
Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.
Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.
Read More
Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Company (The) (NYSE:SO – Free Report).
Receive News & Ratings for Southern Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Southern and related companies with MarketBeat.com’s FREE daily email newsletter.
