Wealthfront Advisers LLC Purchases 7,003 Shares of Southern Company (The) $SO

Wealthfront Advisers LLC increased its holdings in Southern Company (The) (NYSE:SO) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 172,092 shares of the utilities provider’s stock after purchasing an additional 7,003 shares during the period. Wealthfront Advisers LLC’s holdings in Southern were worth $16,309,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Empowered Funds LLC increased its holdings in shares of Southern by 17.5% in the 1st quarter. Empowered Funds LLC now owns 34,003 shares of the utilities provider’s stock worth $3,127,000 after buying an additional 5,067 shares during the last quarter. CWM LLC lifted its holdings in shares of Southern by 5.5% in the 2nd quarter. CWM LLC now owns 98,283 shares of the utilities provider’s stock valued at $9,025,000 after acquiring an additional 5,118 shares during the last quarter. Vest Financial LLC grew its position in Southern by 39.3% in the second quarter. Vest Financial LLC now owns 37,375 shares of the utilities provider’s stock worth $3,432,000 after acquiring an additional 10,537 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Southern by 5.6% in the second quarter. Sequoia Financial Advisors LLC now owns 89,739 shares of the utilities provider’s stock worth $8,241,000 after acquiring an additional 4,796 shares in the last quarter. Finally, Cornerstone Wealth Group LLC increased its stake in Southern by 0.9% during the second quarter. Cornerstone Wealth Group LLC now owns 91,413 shares of the utilities provider’s stock worth $8,394,000 after acquiring an additional 778 shares during the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Stock Performance

SO stock opened at $90.86 on Wednesday. Southern Company has a twelve month low of $83.09 and a twelve month high of $100.83. The firm has a market cap of $100.05 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 2.70 and a beta of 0.45. The business’s fifty day simple moving average is $87.56 and its two-hundred day simple moving average is $91.37. The company has a quick ratio of 0.59, a current ratio of 0.75 and a debt-to-equity ratio of 1.69.

Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 17th will be paid a $0.74 dividend. 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%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SO shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $105.00 price objective on shares of Southern in a research note on Friday, January 23rd. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $102.50 target price (up previously from $99.50) on shares of Southern in a research report on Friday, October 17th. BTIG Research assumed coverage on Southern in a research report on Tuesday, October 21st. They issued a “neutral” rating for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern in a research report on Wednesday, January 21st. Finally, TD Cowen restated a “buy” rating on shares of Southern in a report on Thursday, December 11th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Southern currently has a consensus rating of “Hold” and an average price target of $94.91.

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.