Zions Bancorporation National Association UT Sells 19,559 Shares of Southern Company (The) $SO

Zions Bancorporation National Association UT lessened its stake in Southern Company (The) (NYSE:SO) by 45.4% in the third quarter, HoldingsChannel reports. The firm owned 23,506 shares of the utilities provider’s stock after selling 19,559 shares during the period. Zions Bancorporation National Association UT’s holdings in Southern were worth $2,228,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Gladstone Institutional Advisory LLC boosted its position in shares of Southern by 0.5% during the third quarter. Gladstone Institutional Advisory LLC now owns 21,461 shares of the utilities provider’s stock worth $2,034,000 after purchasing an additional 105 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Southern by 0.7% in the third quarter. Venturi Wealth Management LLC now owns 15,230 shares of the utilities provider’s stock worth $1,443,000 after acquiring an additional 105 shares in the last quarter. Avidian Wealth Enterprises LLC raised its position in shares of Southern by 2.3% during the second quarter. Avidian Wealth Enterprises LLC now owns 4,697 shares of the utilities provider’s stock worth $431,000 after purchasing an additional 106 shares during the period. Highline Wealth Partners LLC lifted its holdings in shares of Southern by 0.7% during the 3rd quarter. Highline Wealth Partners LLC now owns 15,667 shares of the utilities provider’s stock valued at $1,485,000 after purchasing an additional 106 shares in the last quarter. Finally, Sara Bay Financial grew its position in shares of Southern by 2.7% in the 3rd quarter. Sara Bay Financial now owns 4,133 shares of the utilities provider’s stock valued at $392,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Performance

Shares of SO opened at $94.93 on Tuesday. The company has a market cap of $104.53 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 2.87 and a beta of 0.45. The firm has a 50-day moving average of $88.09 and a 200-day moving average of $91.33. Southern Company has a one year low of $83.09 and a one year 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.

Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders 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 yield of 3.1%. The ex-dividend date of this dividend is Tuesday, February 17th. Southern’s payout ratio is 73.27%.

Wall Street Analyst Weigh In

Several brokerages have commented on SO. Royal Bank Of Canada restated a “sector perform” rating and set a $105.00 target price on shares of Southern in a report on Friday, January 23rd. Mizuho dropped their price target on Southern from $97.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, December 11th. BTIG Research started coverage on Southern in a report on Tuesday, October 21st. They set a “neutral” rating for the company. TD Cowen reaffirmed a “buy” rating on shares of Southern in a research report on Thursday, December 11th. Finally, Jefferies Financial Group lowered their price objective on shares of Southern from $104.00 to $93.00 and set a “neutral” rating on the stock in a report on Monday, December 15th. Four 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’s stock. According to MarketBeat, Southern currently has a consensus rating of “Hold” and an average price target of $94.91.

Southern Profile

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.