Tyche Wealth Partners LLC Has $2.19 Million Stock Holdings in The Southern Company (NYSE:SO)

Tyche Wealth Partners LLC decreased its position in The Southern Company (NYSE:SO) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 26,576 shares of the utilities provider’s stock after selling 328 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Southern were worth $2,188,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mizuho Securities USA LLC boosted its stake in shares of Southern by 17,272.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 14,647,000 shares of the utilities provider’s stock valued at $1,320,866,000 after purchasing an additional 14,562,689 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Southern by 8,741.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,502,813 shares of the utilities provider’s stock valued at $135,524,000 after buying an additional 1,485,816 shares during the period. Synovus Financial Corp grew its holdings in shares of Southern by 72.4% in the 3rd quarter. Synovus Financial Corp now owns 3,077,959 shares of the utilities provider’s stock valued at $277,570,000 after buying an additional 1,293,072 shares during the period. Geode Capital Management LLC grew its holdings in shares of Southern by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 24,521,339 shares of the utilities provider’s stock valued at $2,203,386,000 after buying an additional 1,075,768 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Southern in the 4th quarter valued at $51,605,000. Institutional investors own 64.10% of the company’s stock.

Southern Stock Performance

Shares of SO stock opened at $83.84 on Thursday. The Southern Company has a 12 month low of $65.80 and a 12 month high of $94.45. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $91.86 billion, a P/E ratio of 19.50, a PEG ratio of 2.86 and a beta of 0.53. The firm’s 50 day moving average is $83.70 and its 200 day moving average is $86.67.

Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Tuesday, February 18th. Southern’s payout ratio is 66.98%.

Insider Transactions at Southern

In related news, EVP Martin Bernard Davis sold 1,170 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $85.90, for a total transaction of $100,503.00. Following the transaction, the executive vice president now owns 88,393 shares of the company’s stock, valued at approximately $7,592,958.70. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SO shares. Scotiabank boosted their price target on shares of Southern from $96.00 to $98.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Morgan Stanley reduced their price objective on shares of Southern from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Guggenheim downgraded shares of Southern from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Mizuho increased their price objective on shares of Southern from $83.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Barclays increased their price objective on shares of Southern from $71.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Southern has an average rating of “Hold” and an average price target of $89.79.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.