Provenance Wealth Advisors LLC lifted its position in Southern Company (The) (NYSE:SO – Free Report) by 27,742.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,580 shares of the utilities provider’s stock after purchasing an additional 10,542 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Southern were worth $877,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE increased its stake in Southern by 4.9% in the 1st quarter. Bank of America Corp DE now owns 8,380,592 shares of the utilities provider’s stock worth $808,895,000 after acquiring an additional 392,210 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Southern during the 2nd quarter worth approximately $737,256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Southern by 9.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,681,674 shares of the utilities provider’s stock valued at $543,793,000 after acquiring an additional 508,149 shares during the last quarter. Swiss National Bank boosted its position in shares of Southern by 7.2% during the 1st quarter. Swiss National Bank now owns 3,231,400 shares of the utilities provider’s stock valued at $311,895,000 after acquiring an additional 216,900 shares during the last quarter. Finally, National Pension Service boosted its position in shares of Southern by 1.9% during the 2nd quarter. National Pension Service now owns 2,932,978 shares of the utilities provider’s stock valued at $280,715,000 after acquiring an additional 54,111 shares during the last quarter. 64.10% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
SO has been the topic of several research reports. Citigroup reduced their price target on shares of Southern from $114.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, September 25th. HSBC started coverage on shares of Southern in a research note on Thursday, October 22nd. They set a “buy” rating and a $99.50 price target on the stock. Barclays lowered their price objective on shares of Southern from $101.00 to $92.00 and set an “equal weight” rating for the company in a research report on Friday, October 16th. Wall Street Zen raised shares of Southern from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Southern in a report on Wednesday, October 21st. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Southern presently has an average rating of “Hold” and a consensus price target of $97.24.
View Our Latest Stock Report on SO
Southern Price Performance
NYSE:SO opened at $93.02 on Thursday. The firm has a market capitalization of $107.01 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 2.47 and a beta of 0.30. Southern Company has a 1 year low of $81.69 and a 1 year high of $99.58. The business has a 50 day simple moving average of $88.02 and a 200-day simple moving average of $92.44. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.79 and a quick ratio of 0.59.
Southern Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 16th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, November 16th. Southern’s dividend payout ratio is presently 72.90%.
Southern Company Profile
Southern Company (NYSE: SO) is an energy holding company headquartered in Atlanta, Georgia. Through its subsidiaries, the company generates, transmits, distributes and sells electricity, while also providing natural gas distribution and related energy services.
Southern’s electric utility operations include Alabama Power, Georgia Power and Mississippi Power, which serve customers across Alabama, Georgia and Mississippi. The company’s generation portfolio includes nuclear, natural gas, coal, hydroelectric and renewable energy resources.
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