AE Wealth Management LLC increased its position in Southern Co (NYSE:SO) by 25.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,917 shares of the utilities provider’s stock after acquiring an additional 13,760 shares during the quarter. AE Wealth Management LLC’s holdings in Southern were worth $3,266,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Southern in the third quarter valued at approximately $105,000. Monroe Bank & Trust MI boosted its position in shares of Southern by 17.9% in the second quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 350 shares during the period. AlphaMark Advisors LLC boosted its position in shares of Southern by 0.6% in the second quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock valued at $113,000 after acquiring an additional 14 shares during the period. Fieldpoint Private Securities LLC bought a new position in shares of Southern in the third quarter valued at approximately $118,000. Finally, Acropolis Investment Management LLC bought a new position in shares of Southern in the fourth quarter valued at approximately $134,000. Institutional investors own 53.64% of the company’s stock.
A number of equities analysts have recently commented on SO shares. Zacks Investment Research lowered shares of Southern from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. Goldman Sachs Group restated a “sell” rating on shares of Southern in a research report on Wednesday, January 10th. Bank of America restated an “underperform” rating and issued a $51.00 price objective on shares of Southern in a research report on Tuesday, October 24th. Mizuho restated a “buy” rating and issued a $52.00 price objective on shares of Southern in a research report on Tuesday, December 26th. Finally, JPMorgan Chase & Co. began coverage on shares of Southern in a research report on Friday, January 12th. They set an “underweight” rating and a $46.00 target price for the company. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $50.50.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.32 annualized dividend and a yield of 5.35%. Southern’s payout ratio is presently 414.29%.
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
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