Rhumbline Advisers Buys 13,773 Shares of Southern Company (The) $SO

Rhumbline Advisers raised its stake in Southern Company (The) (NYSE:SO) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,936,661 shares of the utilities provider’s stock after acquiring an additional 13,773 shares during the period. Rhumbline Advisers’ holdings in Southern were worth $183,537,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cloud Capital Management LLC purchased a new position in shares of Southern in the third quarter worth $25,000. Advantage Trust Co boosted its position in Southern by 1,428.6% during the 2nd quarter. Advantage Trust Co now owns 321 shares of the utilities provider’s stock valued at $29,000 after buying an additional 300 shares during the period. Grey Fox Wealth Advisors LLC bought a new stake in Southern in the 3rd quarter worth $29,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Southern in the third quarter valued at about $34,000. Finally, Chilton Capital Management LLC increased its position in shares of Southern by 120.1% in the third quarter. Chilton Capital Management LLC now owns 361 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 197 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Stock Performance

Shares of SO opened at $90.86 on Wednesday. The company’s 50 day simple moving average is $87.56 and its 200-day simple moving average is $91.37. Southern Company has a 12-month low of $83.09 and a 12-month high of $100.83. The firm has a market cap of $100.05 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.70 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be paid a $0.74 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.96 dividend on an annualized basis and a yield of 3.3%. Southern’s payout ratio is currently 73.27%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SO. Wall Street Zen cut Southern from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern in a report on Wednesday, January 21st. Jefferies Financial Group cut their price objective on Southern from $104.00 to $93.00 and set a “neutral” rating on the stock in a research report on Monday, December 15th. LADENBURG THALM/SH SH restated a “neutral” rating and set a $102.50 target price (up previously from $99.50) on shares of Southern in a report on Friday, October 17th. Finally, BTIG Research initiated coverage on shares of Southern in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Southern presently has an average rating of “Hold” and an average target price 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.