Wealthcare Advisory Partners LLC cut its stake in shares of Southern Company (The) (NYSE:SO – Free Report) by 14.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,770 shares of the utilities provider’s stock after selling 8,334 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Southern were worth $4,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of SO. Vanguard Group Inc. increased its stake in shares of Southern by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 108,057,413 shares of the utilities provider’s stock worth $9,422,606,000 after buying an additional 1,643,090 shares during the period. Capital World Investors boosted its position in Southern by 22.6% during the 4th quarter. Capital World Investors now owns 41,142,076 shares of the utilities provider’s stock valued at $3,587,589,000 after buying an additional 7,593,224 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Southern by 18.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,459,462 shares of the utilities provider’s stock valued at $3,004,866,000 after buying an additional 5,436,212 shares during the period. Geode Capital Management LLC grew its holdings in Southern by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 27,259,125 shares of the utilities provider’s stock worth $2,381,344,000 after acquiring an additional 384,860 shares during the last quarter. Finally, Norges Bank bought a new stake in Southern in the 4th quarter worth $1,111,450,000. 64.10% of the stock is currently owned by institutional investors.
Southern Stock Up 0.6%
Shares of Southern stock opened at $91.86 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The company’s fifty day simple moving average is $94.63 and its two-hundred day simple moving average is $94.25. The company has a market cap of $105.67 billion, a P/E ratio of 22.03, a PEG ratio of 1.76 and a beta of 0.34. Southern Company has a 12-month low of $83.80 and a 12-month high of $100.83.
Southern Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, August 17th. Southern’s dividend payout ratio is presently 72.90%.
Wall Street Analyst Weigh In
SO has been the subject of several recent analyst reports. Truist Financial lowered their price objective on shares of Southern from $103.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, May 29th. Mizuho set a $106.00 target price on shares of Southern in a report on Friday, July 31st. Wall Street Zen cut Southern from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings restated a “buy (b)” rating on shares of Southern in a report on Wednesday, July 29th. Finally, Seaport Research Partners lowered Southern from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Southern presently has a consensus rating of “Hold” and a consensus target price of $100.26.
Get Our Latest Stock Analysis on Southern
About Southern
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.
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