SNS Financial Group LLC cut its position in Southern Co (NYSE:SO) by 7.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 36,805 shares of the utilities provider’s stock after selling 3,108 shares during the period. SNS Financial Group LLC’s holdings in Southern were worth $1,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Southern during the 3rd quarter valued at $105,000. Taylor Hoffman Wealth Management bought a new stake in shares of Southern during the 4th quarter valued at $104,000. Fieldpoint Private Securities LLC bought a new stake in shares of Southern during the 3rd quarter valued at $118,000. Acropolis Investment Management LLC bought a new stake in shares of Southern during the 4th quarter valued at $134,000. Finally, Thompson Davis & CO. Inc. lifted its position in shares of Southern by 152.6% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,791 shares of the utilities provider’s stock valued at $134,000 after acquiring an additional 1,686 shares during the period. Institutional investors and hedge funds own 53.72% of the company’s stock.
Southern Co (SO) opened at $43.93 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.73. Southern Co has a fifty-two week low of $42.63 and a fifty-two week high of $53.51. The company has a market capitalization of $44,089.38, a price-to-earnings ratio of 78.45, a PEG ratio of 3.26 and a beta of 0.03.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.58 per share. The ex-dividend date is Friday, February 16th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.28%. Southern’s dividend payout ratio (DPR) is currently 414.29%.
A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Southern in a research report on Friday, January 12th. They set an “underweight” rating and a $46.00 target price for the company. Mizuho reiterated a “buy” rating and set a $52.00 target price on shares of Southern in a research report on Tuesday, December 26th. Bank of America reiterated an “underperform” rating and set a $51.00 target price on shares of Southern in a research report on Tuesday, October 24th. Morgan Stanley cut their target price on Southern from $48.00 to $44.00 and set an “underweight” rating for the company in a research report on Tuesday, February 13th. Finally, ValuEngine downgraded Southern from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Southern presently has a consensus rating of “Hold” and an average target price of $50.03.
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The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
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