Cibc World Market Inc. Has $2.55 Million Holdings in Southern Company (The) $SO

Cibc World Market Inc. decreased its holdings in Southern Company (The) (NYSE:SO) by 78.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,917 shares of the utilities provider’s stock after selling 98,569 shares during the quarter. Cibc World Market Inc.’s holdings in Southern were worth $2,551,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SO. Norges Bank acquired a new stake in shares of Southern in the second quarter valued at about $1,179,715,000. Laurel Wealth Advisors LLC lifted its stake in shares of Southern by 9,099.6% in the second quarter. Laurel Wealth Advisors LLC now owns 4,421,331 shares of the utilities provider’s stock worth $406,011,000 after acquiring an additional 4,373,271 shares during the period. Soroban Capital Partners LP boosted its holdings in Southern by 83.8% in the second quarter. Soroban Capital Partners LP now owns 4,097,422 shares of the utilities provider’s stock valued at $376,266,000 after acquiring an additional 1,867,912 shares during the last quarter. Vanguard Group Inc. increased its position in Southern by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 105,904,243 shares of the utilities provider’s stock valued at $9,725,187,000 after purchasing an additional 1,694,066 shares during the period. Finally, Soundwatch Capital LLC bought a new position in Southern during the 2nd quarter worth approximately $103,342,000. 64.10% of the stock is owned by institutional investors.

Southern Stock Up 2.6%

Shares of NYSE:SO opened at $94.93 on Monday. The business’s 50 day simple moving average is $87.90 and its two-hundred day simple moving average is $91.33. The firm has a market cap of $104.53 billion, a P/E ratio of 23.50, a PEG ratio of 2.87 and a beta of 0.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.59 and a current ratio of 0.75. Southern Company has a 52-week low of $83.09 and a 52-week high of $100.83.

Southern Dividend Announcement

The firm 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. This represents a $2.96 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, February 17th. Southern’s payout ratio is 73.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SO shares. The Goldman Sachs Group lowered 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. BTIG Research started coverage on shares of Southern in a research report on Tuesday, October 21st. They set a “neutral” rating on the stock. Barclays lowered their price objective on Southern from $91.00 to $88.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. JPMorgan Chase & Co. cut their target price on Southern from $104.00 to $93.00 and set a “neutral” rating on the stock in a research report on Monday, December 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern in a research note on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Southern currently has an average rating of “Hold” and an average 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.