Exchange Traded Concepts LLC Decreases Stock Position in Southern Company (The) $SO

Exchange Traded Concepts LLC lessened its position in shares of Southern Company (The) (NYSE:SO) by 48.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 155,720 shares of the utilities provider’s stock after selling 147,272 shares during the period. Exchange Traded Concepts LLC’s holdings in Southern were worth $14,758,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Cohen Investment Advisors LLC lifted its holdings in Southern by 2.4% during the third quarter. Cohen Investment Advisors LLC now owns 5,199 shares of the utilities provider’s stock valued at $493,000 after purchasing an additional 122 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Southern by 4.4% during the 3rd quarter. Brighton Jones LLC now owns 14,780 shares of the utilities provider’s stock valued at $1,401,000 after buying an additional 620 shares in the last quarter. Foster Group Inc. boosted its holdings in Southern by 6.5% in the 3rd quarter. Foster Group Inc. now owns 2,775 shares of the utilities provider’s stock worth $263,000 after buying an additional 170 shares during the period. DLK Investment Management LLC purchased a new position in Southern in the 3rd quarter valued at approximately $320,000. Finally, Diversified Enterprises LLC grew its stake in Southern by 1.2% in the 3rd quarter. Diversified Enterprises LLC now owns 44,916 shares of the utilities provider’s stock valued at $4,257,000 after buying an additional 526 shares in the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SO. Morgan Stanley restated an “underperform” rating and set a $97.00 target price on shares of Southern in a research report on Thursday, November 20th. JPMorgan Chase & Co. cut their target price on Southern from $104.00 to $93.00 and set a “neutral” rating for the company in a research note on Monday, December 15th. Evercore ISI began coverage on Southern in a report on Monday, October 6th. They set an “in-line” rating and a $103.00 target price for the company. LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $102.50 price target (up from $99.50) on shares of Southern in a report on Friday, October 17th. Finally, Wells Fargo & Company assumed coverage on shares of Southern in a research report on Monday, October 27th. They issued an “equal weight” rating and a $97.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $96.21.

Southern Stock Performance

NYSE:SO opened at $85.72 on Tuesday. The stock has a market cap of $94.39 billion, a P/E ratio of 21.22, a PEG ratio of 2.75 and a beta of 0.45. The company has a quick ratio of 0.59, a current ratio of 0.75 and a debt-to-equity ratio of 1.69. The business’s 50-day moving average price is $90.93 and its two-hundred day moving average price is $92.20. Southern Company has a twelve month low of $80.46 and a twelve month high of $100.83.

Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, October 29th. The utilities provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.09. The company had revenue of $7.82 billion for the quarter, compared to analysts’ expectations of $8.04 billion. Southern had a net margin of 15.42% and a return on equity of 12.52%. Southern’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.39 earnings per share. As a group, equities analysts predict that Southern Company will post 4.29 EPS for the current fiscal year.

Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, November 17th were given a dividend of $0.74 per share. The ex-dividend date was Monday, November 17th. This represents a $2.96 annualized dividend and a dividend yield of 3.5%. Southern’s dividend payout ratio (DPR) is 73.27%.

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.