Southern Co (SO) Stake Decreased by WEALTHFRONT Corp

WEALTHFRONT Corp lessened its position in shares of Southern Co (NYSE:SO) by 13.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,105 shares of the utilities provider’s stock after selling 6,340 shares during the period. WEALTHFRONT Corp’s holdings in Southern were worth $1,836,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in shares of Southern during the 2nd quarter worth approximately $119,000. Horan Capital Advisors LLC. bought a new stake in shares of Southern during the 2nd quarter worth approximately $121,000. Sound Income Strategies LLC lifted its holdings in shares of Southern by 83.5% during the 3rd quarter. Sound Income Strategies LLC now owns 2,855 shares of the utilities provider’s stock worth $124,000 after acquiring an additional 1,299 shares during the period. Psagot Investment House Ltd. bought a new stake in shares of Southern during the 3rd quarter worth approximately $127,000. Finally, Pathstone Family Office LLC bought a new stake in shares of Southern during the 3rd quarter worth approximately $141,000. 56.58% of the stock is owned by institutional investors.

Shares of NYSE:SO opened at $47.04 on Thursday. The company has a market capitalization of $48.60 billion, a P/E ratio of 15.48, a P/E/G ratio of 3.46 and a beta of -0.07. The company has a quick ratio of 0.58, a current ratio of 0.72 and a debt-to-equity ratio of 1.48. Southern Co has a one year low of $42.38 and a one year high of $52.00.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, November 7th. The utilities provider reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.07. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.68 billion. Southern had a net margin of 10.35% and a return on equity of 12.88%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.12 EPS. On average, research analysts forecast that Southern Co will post 3.03 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Monday, November 19th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend is Friday, November 16th. Southern’s payout ratio is 79.47%.

In related news, CEO Kimberly S. Greene sold 15,000 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $47.03, for a total value of $705,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is owned by corporate insiders.

SO has been the subject of a number of recent analyst reports. ValuEngine raised shares of Southern from a “sell” rating to a “hold” rating in a report on Friday, October 19th. Barclays downgraded shares of Southern from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $51.00 to $48.00 in a report on Thursday, August 9th. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, October 9th. UBS Group upped their price target on shares of Southern from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, October 29th. Finally, Citigroup downgraded shares of Southern from a “neutral” rating to a “sell” rating and set a $45.00 price target for the company. in a report on Wednesday, August 8th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. Southern presently has an average rating of “Hold” and a consensus price target of $46.32.

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Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.

Read More: Cost of Capital Explained

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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