Core Alternative Capital Lowers Stock Position in Southern Company (The) $SO

Core Alternative Capital lessened its holdings in shares of Southern Company (The) (NYSE:SO) by 12.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,848 shares of the utilities provider’s stock after selling 9,379 shares during the period. Southern makes up approximately 1.9% of Core Alternative Capital’s portfolio, making the stock its 12th biggest holding. Core Alternative Capital’s holdings in Southern were worth $6,430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Empowered Funds LLC increased its holdings in Southern by 17.5% in the first quarter. Empowered Funds LLC now owns 34,003 shares of the utilities provider’s stock valued at $3,127,000 after buying an additional 5,067 shares in the last quarter. Kathmere Capital Management LLC increased its stake in Southern by 16.3% in the 2nd quarter. Kathmere Capital Management LLC now owns 2,579 shares of the utilities provider’s stock valued at $237,000 after purchasing an additional 361 shares in the last quarter. Patton Fund Management Inc. purchased a new stake in Southern during the second quarter worth $224,000. Sound Income Strategies LLC raised its stake in shares of Southern by 244.0% during the 2nd quarter. Sound Income Strategies LLC now owns 11,119 shares of the utilities provider’s stock worth $1,021,000 after buying an additional 7,887 shares during the last quarter. Finally, GC Wealth Management RIA LLC boosted its position in shares of Southern by 425.7% in the 2nd quarter. GC Wealth Management RIA LLC now owns 13,290 shares of the utilities provider’s stock worth $1,220,000 after buying an additional 10,762 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Performance

Shares of NYSE:SO opened at $88.83 on Wednesday. The business has a 50-day moving average of $87.52 and a two-hundred day moving average of $91.69. The firm has a market capitalization of $97.81 billion, a PE ratio of 21.99, a P/E/G ratio of 2.67 and a beta of 0.46. 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 Company has a 12 month low of $82.69 and a 12 month high of $100.83.

Southern (NYSE:SO) last issued its earnings results on Wednesday, October 29th. The utilities provider reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.09. Southern had a net margin of 15.42% and a return on equity of 12.52%. The business had revenue of $7.82 billion for the quarter, compared to the consensus estimate of $8.04 billion. During the same quarter last year, the firm posted $1.39 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, research analysts forecast that Southern Company will post 4.29 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group lowered their price target on shares of Southern from $98.00 to $94.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $105.00 price objective on shares of Southern in a research report on Friday. LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $102.50 target price (up previously from $99.50) on shares of Southern in a research note on Friday, October 17th. Wall Street Zen cut shares of Southern from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Finally, Scotiabank restated a “sector perform” rating and set a $99.00 target price on shares of Southern in a research report on Friday, October 3rd. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Southern presently has a consensus rating of “Hold” and an average target price of $94.91.

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.