Southern Company (The) $SO is Cahaba Wealth Management Inc.’s 10th Largest Position

Cahaba Wealth Management Inc. lessened its position in Southern Company (The) (NYSE:SO) by 2.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 343,359 shares of the utilities provider’s stock after selling 7,490 shares during the period. Southern makes up 2.4% of Cahaba Wealth Management Inc.’s investment portfolio, making the stock its 10th largest holding. Cahaba Wealth Management Inc.’s holdings in Southern were worth $32,540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Perigon Wealth Management LLC lifted its position in Southern by 26.4% in the third quarter. Perigon Wealth Management LLC now owns 32,548 shares of the utilities provider’s stock valued at $3,085,000 after purchasing an additional 6,801 shares during the period. BankPlus Trust Department raised its stake in shares of Southern by 9.5% during the 3rd quarter. BankPlus Trust Department now owns 6,580 shares of the utilities provider’s stock worth $624,000 after buying an additional 572 shares in the last quarter. NovaPoint Capital LLC lifted its holdings in shares of Southern by 10.6% in the 3rd quarter. NovaPoint Capital LLC now owns 16,097 shares of the utilities provider’s stock valued at $1,525,000 after buying an additional 1,539 shares during the period. FSM Wealth Advisors LLC purchased a new stake in shares of Southern in the third quarter valued at approximately $218,000. Finally, Apollon Financial LLC grew its holdings in Southern by 0.4% during the third quarter. Apollon Financial LLC now owns 46,196 shares of the utilities provider’s stock worth $4,378,000 after acquiring an additional 184 shares during the period. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Stock Performance

NYSE SO opened at $87.21 on Friday. Southern Company has a fifty-two week low of $80.46 and a fifty-two week high of $100.83. The stock has a market cap of $96.02 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 2.81 and a beta of 0.45. The business has a fifty day moving average of $89.97 and a 200-day moving average of $92.12. The company has a quick ratio of 0.59, a current ratio of 0.75 and a debt-to-equity ratio of 1.69.

Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.09. The business had revenue of $7.82 billion during the quarter, compared to the consensus estimate of $8.04 billion. Southern had a net margin of 15.42% and a return on equity of 12.52%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 earnings per share. As a group, analysts predict that Southern Company will post 4.29 earnings per share 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 issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, November 17th. Southern’s dividend payout ratio is presently 73.27%.

Analysts Set New Price Targets

SO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their target price on Southern from $104.00 to $93.00 and set a “neutral” rating for the company in a report on Monday, December 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Southern from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $102.50 target price (up from $99.50) on shares of Southern in a report on Friday, October 17th. Finally, Mizuho decreased 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $96.21.

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.