Southern Co (SO) Stake Lowered by LS Investment Advisors LLC
LS Investment Advisors LLC decreased its position in Southern Co (NYSE:SO) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,311 shares of the utilities provider’s stock after selling 1,181 shares during the quarter. LS Investment Advisors LLC’s holdings in Southern were worth $2,900,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Southern during the third quarter worth $105,000. Monroe Bank & Trust MI increased its position in Southern by 17.9% during the second quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 350 shares during the period. AlphaMark Advisors LLC increased its position in Southern by 0.6% during the second quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock worth $113,000 after acquiring an additional 14 shares during the period. Fieldpoint Private Securities LLC bought a new position in Southern during the third quarter worth $118,000. Finally, Thompson Davis & CO. Inc. increased its position in Southern by 152.6% during the second quarter. Thompson Davis & CO. Inc. now owns 2,791 shares of the utilities provider’s stock worth $134,000 after acquiring an additional 1,686 shares during the period. 53.72% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the stock. ValuEngine lowered shares of Southern from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. SunTrust Banks set a $47.00 target price on shares of Southern and gave the stock a “hold” rating in a research report on Monday, February 5th. UBS Group assumed coverage on shares of Southern in a research report on Friday, February 2nd. They set a “neutral” rating and a $46.00 target price on the stock. Royal Bank of Canada reaffirmed a “buy” rating on shares of Southern in a research report on Friday, December 22nd. Finally, Mizuho lowered shares of Southern from a “buy” rating to a “neutral” rating and set a $44.50 target price on the stock. in a research report on Tuesday, January 23rd. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Southern has a consensus rating of “Hold” and a consensus target price of $50.50.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 5.23%. The ex-dividend date of this dividend is Friday, February 16th. Southern’s dividend payout ratio (DPR) is presently 414.29%.
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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.
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