Laurel Wealth Advisors LLC Cuts Stock Position in Southern Company (The) $SO

Laurel Wealth Advisors LLC trimmed its holdings in shares of Southern Company (The) (NYSE:SO) by 98.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,340 shares of the utilities provider’s stock after selling 4,373,991 shares during the period. Laurel Wealth Advisors LLC’s holdings in Southern were worth $4,486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Finemark National Bank & Trust grew its stake in shares of Southern by 47.0% in the third quarter. Finemark National Bank & Trust now owns 6,388 shares of the utilities provider’s stock valued at $605,000 after buying an additional 2,043 shares in the last quarter. Aprio Wealth Management LLC boosted its holdings in Southern by 13.5% in the 3rd quarter. Aprio Wealth Management LLC now owns 15,821 shares of the utilities provider’s stock worth $1,499,000 after acquiring an additional 1,879 shares during the period. Huntington National Bank grew its position in Southern by 4.3% in the third quarter. Huntington National Bank now owns 261,211 shares of the utilities provider’s stock valued at $24,755,000 after acquiring an additional 10,660 shares in the last quarter. Argent Trust Co grew its position in Southern by 68.9% in the third quarter. Argent Trust Co now owns 72,676 shares of the utilities provider’s stock valued at $6,888,000 after acquiring an additional 29,637 shares in the last quarter. Finally, Mosaic Family Wealth Partners LLC raised its stake in shares of Southern by 23.5% during the third quarter. Mosaic Family Wealth Partners LLC now owns 7,858 shares of the utilities provider’s stock valued at $738,000 after purchasing an additional 1,497 shares during the period. 64.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Southern from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. UBS Group cut their price objective on shares of Southern from $98.00 to $94.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Weiss Ratings restated a “buy (b)” rating on shares of Southern in a research note on Wednesday, January 21st. Scotiabank lifted their target price on Southern from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Southern in a research note on Friday, February 20th. Five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $97.64.

Southern Price Performance

SO opened at $97.38 on Monday. The company has a market capitalization of $107.22 billion, a P/E ratio of 24.78, a PEG ratio of 2.94 and a beta of 0.44. The company has a 50-day moving average of $89.74 and a 200-day moving average of $91.33. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.47 and a current ratio of 0.65. Southern Company has a 1-year low of $83.09 and a 1-year high of $100.83.

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

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th will be given a $0.74 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.96 annualized dividend and a dividend yield of 3.0%. Southern’s dividend payout ratio (DPR) is presently 75.32%.

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.