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

Ashton Thomas Private Wealth LLC raised its holdings in shares of Southern Company (The) (NYSE:SO) by 41.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 23,549 shares of the utilities provider’s stock after acquiring 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.

Other large investors also recently made changes to their positions in the company. Matrix Trust Co purchased a new stake in Southern during the 3rd quarter worth $1,813,000. Equitable Trust Co. lifted its stake in shares of Southern by 24.7% during the second quarter. Equitable Trust Co. now owns 34,527 shares of the utilities provider’s stock worth $3,171,000 after purchasing an additional 6,843 shares in the last quarter. Donaldson Capital Management LLC boosted its position in shares of Southern by 2,785.8% in the third quarter. Donaldson Capital Management LLC now owns 563,027 shares of the utilities provider’s stock worth $53,358,000 after buying an additional 543,517 shares during the period. Alpha Cubed Investments LLC boosted its position in shares of Southern by 23.6% in 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 during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Southern in the third quarter valued at about $4,852,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Performance

Southern stock opened at $91.06 on Friday. Southern Company has a 52 week low of $82.90 and a 52 week high of $100.83. The company has a current ratio of 0.75, a quick ratio of 0.59 and a debt-to-equity ratio of 1.69. The stock has a market cap of $100.26 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.73 and a beta of 0.45. The stock has a 50 day moving average of $87.53 and a 200-day moving average of $91.53.

Southern Dividend Announcement

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

Wall Street Analysts Forecast Growth

SO has been the topic of several recent research reports. TD Cowen reissued a “buy” rating on shares of Southern in a research report on Thursday, December 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern in a research note on Wednesday, January 21st. Morgan Stanley reissued an “underweight” rating and set a $85.00 target price on shares of Southern in a research report on Wednesday, January 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $105.00 price target on shares of Southern in a report on Friday, January 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Southern from $104.00 to $93.00 and set a “neutral” rating on the stock in a research note on Monday, December 15th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.