Southern Company (The) $SO Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its holdings in shares of Southern Company (The) (NYSE:SO) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 207,170 shares of the utilities provider’s stock after selling 6,728 shares during the period. ProShare Advisors LLC’s holdings in Southern were worth $19,634,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SO. Gladstone Institutional Advisory LLC boosted its stake in shares of Southern by 0.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 21,461 shares of the utilities provider’s stock valued at $2,034,000 after buying an additional 105 shares in the last quarter. Venturi Wealth Management LLC raised its position in Southern by 0.7% in the third quarter. Venturi Wealth Management LLC now owns 15,230 shares of the utilities provider’s stock worth $1,443,000 after acquiring an additional 105 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in Southern by 2.3% in the second quarter. Avidian Wealth Enterprises LLC now owns 4,697 shares of the utilities provider’s stock valued at $431,000 after acquiring an additional 106 shares during the period. Highline Wealth Partners LLC boosted its position in shares of Southern by 0.7% during the 3rd quarter. Highline Wealth Partners LLC now owns 15,667 shares of the utilities provider’s stock worth $1,485,000 after purchasing an additional 106 shares in the last quarter. Finally, Sara Bay Financial grew its stake in shares of Southern by 2.7% during the 3rd quarter. Sara Bay Financial now owns 4,133 shares of the utilities provider’s stock worth $392,000 after purchasing an additional 108 shares during the period. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Trading Up 1.7%

Shares of SO opened at $90.86 on Wednesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.75 and a quick ratio of 0.59. Southern Company has a 1-year low of $83.09 and a 1-year high of $100.83. The stock has a market cap of $100.05 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 2.70 and a beta of 0.45. The firm has a 50 day simple moving average of $87.56 and a 200-day simple moving average of $91.37.

Southern Dividend Announcement

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

Analyst Ratings Changes

SO has been the subject of several recent analyst reports. The Goldman Sachs Group cut shares of Southern from a “buy” rating to a “neutral” rating and set a $98.00 price objective for the company. in a research note on Thursday, November 6th. BTIG Research initiated coverage on shares of Southern in a research report on Tuesday, October 21st. They set a “neutral” rating for the company. Morgan Stanley reissued an “underweight” rating and set a $85.00 price target on shares of Southern in a research note on Wednesday, January 21st. KeyCorp dropped their price objective on Southern from $87.00 to $76.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Finally, Wall Street Zen cut Southern from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.