Smith Chas P & Associates PA Cpas Sells 14,955 Shares of Southern Company (The) $SO

Smith Chas P & Associates PA Cpas decreased its position in shares of Southern Company (The) (NYSE:SO) by 55.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,192 shares of the utilities provider’s stock after selling 14,955 shares during the quarter. Smith Chas P & Associates PA Cpas’ holdings in Southern were worth $1,155,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Southern during the second quarter valued at about $1,179,715,000. Laurel Wealth Advisors LLC increased its stake in shares of Southern by 9,099.6% in the second quarter. Laurel Wealth Advisors LLC now owns 4,421,331 shares of the utilities provider’s stock valued at $406,011,000 after buying an additional 4,373,271 shares during the period. Soroban Capital Partners LP raised its holdings in Southern by 83.8% in the 2nd quarter. Soroban Capital Partners LP now owns 4,097,422 shares of the utilities provider’s stock valued at $376,266,000 after buying an additional 1,867,912 shares during the last quarter. Vanguard Group Inc. boosted its position in Southern by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 105,904,243 shares of the utilities provider’s stock worth $9,725,187,000 after buying an additional 1,694,066 shares during the period. Finally, Soundwatch Capital LLC bought a new stake in Southern during the 2nd quarter worth approximately $103,342,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Down 0.3%

Shares of Southern stock opened at $96.92 on Wednesday. The stock’s 50-day moving average is $90.19 and its 200 day moving average is $91.37. Southern Company has a one year low of $83.09 and a one year high of $100.83. The firm has a market cap of $106.72 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 2.94 and a beta of 0.44. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.65 and a quick ratio of 0.47.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, February 18th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). The business had revenue of $6.98 billion during the quarter, compared to analyst estimates of $6.41 billion. Southern had a net margin of 14.69% and a return on equity of 12.52%. Southern’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. Equities research analysts anticipate that Southern Company will post 4.29 EPS for the current year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 17th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, February 17th. Southern’s payout ratio is presently 75.32%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SO shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $105.00 price target on shares of Southern in a research report on Friday, January 23rd. KeyCorp raised Southern from an “underweight” rating to a “sector weight” rating in a report on Wednesday. UBS Group reduced their price target on Southern from $98.00 to $94.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Wells Fargo & Company set a $96.00 price target on Southern and gave the company an “equal weight” rating in a research note on Friday, February 20th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $102.00 price objective on shares of Southern in a research note on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $97.64.

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.