ABN AMRO Bank N.V. Takes $1.97 Million Position in Southern Company (The) $SO

ABN AMRO Bank N.V. bought a new position in shares of Southern Company (The) (NYSE:SO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 20,965 shares of the utilities provider’s stock, valued at approximately $1,972,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Matrix Trust Co bought a new stake in Southern during the third quarter worth $1,813,000. Equitable Trust Co. lifted its stake in Southern by 24.7% during the 2nd quarter. Equitable Trust Co. now owns 34,527 shares of the utilities provider’s stock valued at $3,171,000 after acquiring an additional 6,843 shares in the last quarter. Donaldson Capital Management LLC boosted its holdings in Southern by 2,785.8% during the 3rd quarter. Donaldson Capital Management LLC now owns 563,027 shares of the utilities provider’s stock worth $53,358,000 after acquiring an additional 543,517 shares during the last quarter. Alpha Cubed Investments LLC grew its stake in shares of Southern by 23.6% in the 2nd quarter. Alpha Cubed Investments LLC now owns 7,145 shares of the utilities provider’s stock worth $656,000 after acquiring an additional 1,366 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Southern in the third quarter valued at about $4,852,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. BTIG Research began coverage on shares of Southern in a research report on Tuesday, October 21st. They issued a “neutral” rating for the company. JPMorgan Chase & Co. reduced their target price on Southern from $104.00 to $93.00 and set a “neutral” rating for the company in a report on Monday, December 15th. The Goldman Sachs Group downgraded Southern from a “buy” rating to a “neutral” rating and set a $98.00 price target for the company. in a research report on Thursday, November 6th. Barclays cut their price objective on Southern from $91.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Finally, Weiss Ratings restated 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 given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Southern currently has an average rating of “Hold” and an average price target of $94.91.

Southern Price Performance

Southern stock opened at $91.06 on Friday. The business’s 50 day simple moving average is $87.53 and its 200 day simple moving average is $91.53. Southern Company has a 12 month low of $82.90 and a 12 month high of $100.83. The company has a market cap of $100.26 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.73 and a beta of 0.45. The company has a current ratio of 0.75, a quick ratio of 0.59 and a debt-to-equity ratio of 1.69.

Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, February 17th. Southern’s dividend payout ratio is currently 73.27%.

Southern 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.