Perigon Wealth Management LLC Has $3.09 Million Holdings in Southern Company (The) $SO

Perigon Wealth Management LLC boosted its position in Southern Company (The) (NYSE:SO) by 26.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 32,548 shares of the utilities provider’s stock after purchasing an additional 6,801 shares during the period. Perigon Wealth Management LLC’s holdings in Southern were worth $3,085,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Avidian Wealth Enterprises LLC lifted its stake in shares of Southern by 2.3% in the 2nd quarter. Avidian Wealth Enterprises LLC now owns 4,697 shares of the utilities provider’s stock valued at $431,000 after purchasing an additional 106 shares during the period. Highline Wealth Partners LLC lifted its stake in Southern by 0.7% in the third quarter. Highline Wealth Partners LLC now owns 15,667 shares of the utilities provider’s stock valued at $1,485,000 after buying an additional 106 shares during the period. Sara Bay Financial lifted its stake in Southern by 2.7% in the third quarter. Sara Bay Financial now owns 4,133 shares of the utilities provider’s stock valued at $392,000 after buying an additional 108 shares during the period. Delta Investment Management LLC grew its position in shares of Southern by 4.6% during the 2nd quarter. Delta Investment Management LLC now owns 2,579 shares of the utilities provider’s stock worth $237,000 after buying an additional 113 shares during the period. Finally, Marco Investment Management LLC increased its stake in shares of Southern by 1.1% in the 2nd quarter. Marco Investment Management LLC now owns 10,234 shares of the utilities provider’s stock valued at $940,000 after acquiring an additional 113 shares in the last quarter. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SO shares. JPMorgan Chase & Co. cut their target price on shares of Southern from $104.00 to $93.00 and set a “neutral” rating on the stock in a research note on Monday, December 15th. Wall Street Zen lowered shares of Southern from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. KeyCorp reduced their target price on Southern from $87.00 to $76.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Morgan Stanley reaffirmed an “underperform” rating and set a $97.00 price target on shares of Southern in a research note on Thursday, November 20th. Finally, Evercore ISI initiated coverage on shares of Southern in a research report on Monday, October 6th. They issued an “in-line” rating and a $103.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $96.21.

Southern Stock Up 0.4%

Shares of NYSE:SO opened at $87.51 on Tuesday. The business’s 50 day moving average is $89.77 and its 200 day moving average is $92.12. Southern Company has a 12-month low of $80.46 and a 12-month high of $100.83. The stock has a market cap of $96.35 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 2.81 and a beta of 0.45. 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 (NYSE:SO) last issued its quarterly earnings data on Wednesday, October 29th. The utilities provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.09. Southern had a return on equity of 12.52% and a net margin of 15.42%.The business had revenue of $7.82 billion for the quarter, compared to analysts’ expectations of $8.04 billion. During the same period last year, the business earned $1.39 EPS. The business’s revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts forecast that Southern Company will post 4.29 earnings per share for the current fiscal year.

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Shareholders of record on Monday, November 17th were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Monday, November 17th. Southern’s dividend payout ratio is presently 73.27%.

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.