Ashton Thomas Private Wealth LLC Increases Position in Southern Company (The) $SO

Ashton Thomas Private Wealth LLC increased its stake in shares of Southern Company (The) (NYSE:SO) by 41.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,549 shares of the utilities provider’s stock after buying an additional 6,852 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Southern were worth $2,232,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SO. Matrix Trust Co purchased a new stake in shares of Southern in the third quarter valued at about $1,813,000. Equitable Trust Co. lifted its stake in Southern by 24.7% in the 2nd quarter. Equitable Trust Co. now owns 34,527 shares of the utilities provider’s stock valued at $3,171,000 after buying an additional 6,843 shares in the last quarter. Donaldson Capital Management LLC grew its holdings in Southern by 2,785.8% during the 3rd quarter. Donaldson Capital Management LLC now owns 563,027 shares of the utilities provider’s stock valued at $53,358,000 after buying an additional 543,517 shares during the last quarter. Alpha Cubed Investments LLC increased its position in Southern by 23.6% during the second quarter. Alpha Cubed Investments LLC now owns 7,145 shares of the utilities provider’s stock worth $656,000 after buying an additional 1,366 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Southern in the third quarter worth $4,852,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Up 0.8%

Shares of NYSE SO opened at $91.06 on Friday. The stock has a market capitalization of $100.26 billion, a PE ratio of 22.54, a P/E/G ratio of 2.73 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 firm has a fifty day moving average of $87.53 and a 200-day moving average of $91.53. Southern Company has a 52-week low of $82.90 and a 52-week high of $100.83.

Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.74 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.96 annualized dividend and a yield of 3.3%. Southern’s dividend payout ratio is currently 73.27%.

Analysts Set New Price Targets

A number of analysts recently commented on SO shares. Barclays decreased their price objective on Southern from $91.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $105.00 price target on shares of Southern in a research note on Friday, January 23rd. UBS Group lowered their price target on shares of Southern from $98.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. The Goldman Sachs Group downgraded shares of Southern from a “buy” rating to a “neutral” rating and set a $98.00 price objective on the stock. in a research note on Thursday, November 6th. Finally, 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 research note on Friday, October 17th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Southern has an average rating of “Hold” and a consensus price target of $94.91.

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.