Intact Investment Management Inc. Sells 8,200 Shares of Southern Company (The) $SO

Intact Investment Management Inc. decreased its position in Southern Company (The) (NYSE:SO) by 20.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,200 shares of the utilities provider’s stock after selling 8,200 shares during the period. Intact Investment Management Inc.’s holdings in Southern were worth $2,957,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SO. CIBC Asset Management Inc lifted its position in Southern by 0.3% in the third quarter. CIBC Asset Management Inc now owns 390,764 shares of the utilities provider’s stock worth $37,031,000 after purchasing an additional 1,130 shares during the period. BLB&B Advisors LLC raised its stake in shares of Southern by 7.0% in the 3rd quarter. BLB&B Advisors LLC now owns 4,257 shares of the utilities provider’s stock valued at $403,000 after buying an additional 278 shares in the last quarter. Sagespring Wealth Partners LLC lifted its holdings in shares of Southern by 1.7% during the 3rd quarter. Sagespring Wealth Partners LLC now owns 57,036 shares of the utilities provider’s stock worth $5,405,000 after acquiring an additional 952 shares during the period. Kanawha Capital Management LLC boosted its position in shares of Southern by 0.5% during the 3rd quarter. Kanawha Capital Management LLC now owns 119,547 shares of the utilities provider’s stock valued at $11,329,000 after acquiring an additional 567 shares in the last quarter. Finally, Seelaus Asset Management LLC boosted its position in shares of Southern by 6.2% during the 3rd quarter. Seelaus Asset Management LLC now owns 4,793 shares of the utilities provider’s stock valued at $454,000 after acquiring an additional 280 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on SO shares. Royal Bank Of Canada restated a “sector perform” rating and set a $105.00 price target on shares of Southern in a research note on Friday. The Goldman Sachs Group cut Southern from a “buy” rating to a “neutral” rating and set a $98.00 target price for the company. in a report on Thursday, November 6th. Morgan Stanley reaffirmed an “underweight” rating and issued a $85.00 price target on shares of Southern in a research note on Wednesday, January 21st. BTIG Research initiated coverage on Southern in a research note on Tuesday, October 21st. They set a “neutral” rating for the company. Finally, Wells Fargo & Company cut Southern from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $97.00 to $84.00 in a report on Tuesday, January 20th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Southern presently has a consensus rating of “Hold” and a consensus target price of $94.91.

Southern Trading Up 0.7%

SO opened at $88.18 on Tuesday. Southern Company has a 1-year low of $82.69 and a 1-year high of $100.83. The stock has a market capitalization of $97.09 billion, a PE ratio of 21.83, a PEG ratio of 2.65 and a beta of 0.46. The company has a current ratio of 0.75, a quick ratio of 0.59 and a debt-to-equity ratio of 1.69. The firm has a 50-day moving average price of $87.56 and a two-hundred day moving average price of $91.72.

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

Southern Company 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.