Southern Company (The) $SO Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC trimmed its holdings in Southern Company (The) (NYSE:SO) by 22.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,605 shares of the utilities provider’s stock after selling 9,755 shares during the period. Great Lakes Advisors LLC’s holdings in Southern were worth $3,185,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ameriflex Group Inc. increased its position in shares of Southern by 275.0% during the second quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 220 shares during the last quarter. Advantage Trust Co grew its position in Southern by 1,428.6% in the 2nd quarter. Advantage Trust Co now owns 321 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Grey Fox Wealth Advisors LLC acquired a new stake in Southern in the third quarter worth about $29,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Southern in the third quarter worth approximately $34,000. Finally, Chilton Capital Management LLC lifted its holdings in Southern by 120.1% in the 3rd quarter. Chilton Capital Management LLC now owns 361 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Price Performance

NYSE:SO opened at $89.32 on Friday. The firm’s fifty day moving average price is $87.52 and its two-hundred day moving average price is $91.62. Southern Company has a one year low of $82.78 and a one year high of $100.83. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.75 and a quick ratio of 0.59. The company has a market cap of $98.35 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.70 and a beta of 0.46.

Southern (NYSE:SO) last announced 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. Southern had a return on equity of 12.52% and a net margin of 15.42%.The business had revenue of $7.82 billion during the quarter, compared to the consensus estimate of $8.04 billion. During the same period in the prior year, the company earned $1.39 EPS. Southern’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts expect that Southern Company will post 4.29 earnings per share for the current year.

Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 17th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Tuesday, February 17th. Southern’s dividend payout ratio (DPR) is currently 73.27%.

Wall Street Analyst Weigh In

SO has been the subject of a number of research analyst reports. BTIG Research began coverage on Southern in a report on Tuesday, October 21st. They issued a “neutral” rating for the company. JPMorgan Chase & Co. cut their price target on Southern from $104.00 to $93.00 and set a “neutral” rating for the company in a report on Monday, December 15th. KeyCorp reduced their price objective on shares of Southern from $87.00 to $76.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Jefferies Financial Group cut their target price on shares of Southern from $104.00 to $93.00 and set a “neutral” rating for the company in a research note on Monday, December 15th. Finally, LADENBURG THALM/SH SH restated a “neutral” rating and set a $102.50 target price (up previously from $99.50) on shares of Southern in a research report on Friday, October 17th. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.