Southern Company (The) $SO Shares Sold by Rockland Trust Co.

Rockland Trust Co. trimmed its position in shares of Southern Company (The) (NYSE:SO) by 11.8% in the 3rd quarter, Holdings Channel reports. The firm owned 103,085 shares of the utilities provider’s stock after selling 13,765 shares during the period. Rockland Trust Co.’s holdings in Southern were worth $9,769,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Donaldson Capital Management LLC lifted its position in shares of Southern by 2,785.8% during the third quarter. Donaldson Capital Management LLC now owns 563,027 shares of the utilities provider’s stock worth $53,358,000 after purchasing an additional 543,517 shares in the last quarter. Matrix Trust Co purchased a new stake in Southern during the 3rd quarter worth approximately $1,813,000. Equitable Trust Co. lifted its holdings in Southern by 24.7% during the 2nd quarter. Equitable Trust Co. now owns 34,527 shares of the utilities provider’s stock worth $3,171,000 after buying an additional 6,843 shares in the last quarter. Alpha Cubed Investments LLC lifted its holdings in Southern by 23.6% during the 2nd 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 purchased a new position in Southern in the 3rd quarter valued at approximately $4,852,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SO. BTIG Research started coverage on Southern in a research report on Tuesday, October 21st. They set a “neutral” rating on the stock. Morgan Stanley restated an “underweight” rating and set a $85.00 price target on shares of Southern in a report on Wednesday, January 21st. Wells Fargo & Company lowered Southern from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $97.00 to $84.00 in a research report on Tuesday, January 20th. Wall Street Zen cut Southern from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Finally, KeyCorp cut their target price on shares of Southern from $87.00 to $76.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $94.91.

Southern Price Performance

SO stock opened at $89.38 on Tuesday. The business has a 50 day moving average price of $87.52 and a 200 day moving average price of $91.40. 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 stock has a market cap of $98.42 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 2.72 and a beta of 0.45. Southern Company has a fifty-two week low of $83.09 and a fifty-two week high of $100.83.

Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th will be issued a $0.74 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.96 annualized dividend and a dividend yield of 3.3%. Southern’s dividend payout ratio is presently 73.27%.

About Southern

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.