Employees Retirement System of Texas trimmed its holdings in shares of Southern Co (NYSE:SO) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,000 shares of the utilities provider’s stock after selling 3,000 shares during the period. Employees Retirement System of Texas’ holdings in Southern were worth $2,356,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of SO. Taylor Hoffman Wealth Management bought a new stake in Southern in the fourth quarter valued at approximately $104,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Southern in the third quarter valued at approximately $105,000. Fieldpoint Private Securities LLC bought a new stake in Southern in the third quarter valued at approximately $118,000. Acropolis Investment Management LLC bought a new stake in Southern in the fourth quarter valued at approximately $134,000. Finally, Bank of Nova Scotia Trust Co. bought a new stake in Southern in the third quarter valued at approximately $147,000. 53.87% of the stock is owned by institutional investors and hedge funds.
Shares of Southern Co (SO) opened at $44.03 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.84. Southern Co has a 12-month low of $42.38 and a 12-month high of $53.51. The stock has a market cap of $44,429.57, a price-to-earnings ratio of 14.59, a PEG ratio of 3.33 and a beta of 0.03.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 20th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 5.27%. The ex-dividend date is Friday, February 16th. Southern’s dividend payout ratio is 272.94%.
Several equities research analysts have commented on SO shares. Guggenheim reaffirmed a “buy” rating and issued a $52.00 target price on shares of Southern in a research note on Wednesday, January 3rd. Mizuho reaffirmed a “buy” rating and issued a $52.00 target price on shares of Southern in a research note on Tuesday, December 26th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Southern in a research note on Friday, December 22nd. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Tuesday, December 12th. Finally, Deutsche Bank lowered their target price on shares of Southern from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $49.70.
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Co (NYSE:SO).
Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.